The following is a summary of the Big 5 Sporting Goods Corporation (BGFV) Q3 2024 Earnings Call Transcript:

Financial Performance:

• Q3 2024 reported net sales were $220.6 million, down from $239.9 million in Q3 2023 with same-store sales decreasing 7.5%.

• Gross profit for Q3 2024 was $64.2 million with a gross profit margin of 29.1%, compared to $79.6 million and a margin of 33.2% in Q3 2023.

• Net loss for Q3 2024 was $29.9 million or $1.36 per basic share, impacted by non-cash charges, compared to a net profit of $1.9 million or $0.08 per diluted share in Q3 2023.

Business Progress:

• Inventory at the end of Q3 2024 was down by 8.7% year-over-year, reflecting efforts to align inventories with current sales performance.

• Plans include opening 3 new stores and closing 11 stores by the end of fiscal 2024, reaching a total of 422 stores.

Opportunities:

• Adjustments to promotional strategies ahead of Thanksgiving aim to energize sales reflecting a flexible and responsive retail strategy in challenging times.

Risks:

• Continued economic headwinds influencing consumer spending persist.

• Expectation of same-store sales in Q4 2024 to range from positive to negative low single digits due to ongoing macroeconomic challenges.

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