Financials: Big 5 1Q same-store sales jump; Garmin sales slip; Lafuma struggles in Europe
The latest financial reports from outdoor and fitness brands and retailers.
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Outdoor, fitness and sporting goods retailers continue to report positive results following a cold and snowy spring.
Big 5 Sporting Goods (Nasdaq: BGFV) was the latest winner, reporting an impressive 10.5 percent increase in same-store sales for the first quarter 2013, benefiting from the winter weather and a rise in firearm sales, officials said. That compares to a year ago, when a lack of cold temperatures and snow led to a 3 percent decline in same-store sales.
For this year’s first-quarter, total sales — including one store relocation — rose 12.7 percent to $246.3 million. Net income jumped to $7.5 million versus just $156,000 a year ago.
Big 5 officials said sales were particularly strong in March and that the positive trend has continued into the second quarter. They projected second-quarter 2013 same-store sales to rise in the mid-single-percentage range. Officials added that they are also working toward debuting an e-commerce platform.
Click here for Big 5’s full first-quarter 2013 results, issued April 30, 2013.
Garmin 1Q sales slip
Garmin (Nasdaq: GRMN) reported lower revenue and profit for the first quarter 2013, but its fitness GPS products continued to gain ground.
Garmin’s first-quarter sales fell 4 percent to $532 million, versus a year ago, while profit slipped to $79.5 million compared to $88.6 million a year ago.
The company’s outdoor segment sales fell 1 percent to $76 million, while its fitness segment rose 2 percent to $72 million.
As SNEWS reported last quarter, Garmin seems to be having better success of late with its fitness GPS watches that focus more on tracking performance than its outdoor GPS units that concentrate on location and navigation.
Click here for Garmin’s full first-quarter 2013 results, issued May 1.
European troubles weigh on Lafuma
France’s Lafuma Group continues to struggle as its European sales take a beating amidst its home continent’s economic woes.
The French outdoor company — parent to Lafuma, Eider, Millet and Oxbow — reported revenue down 15.4 percent to EUR 102.7 million ($134.7 million) in the first half of its fiscal 2012/13 year.
Sales for its Great Outdoor group, consisting of Lafuma, fell 16.5 percent, its Board Sports group (Oxbow) fell 35.2 percent, while it’s Mountain Group (Millet and Eider) fared slightly better, only losing 3 percent in sales.
Lafuma officials said there will be no avoiding a full-year decline in sales this fiscal year, but its new management team plans to present a business plan in June 2013 to help stabilize losses.
Click here for Lafuma’s full first/second-quarter 2012/13 report, issued April 23.
