Big 5 Sporting reports FY23 revenue $884.7M vs $995.5M last year

For the fiscal 2023 full year, net sales were $884.7M compared to net sales of $995.5M for fiscal 2022. Same store sales decreased 11.2% for the fiscal 2023 full year compared to fiscal 2022. The Company’s merchandise margins were essentially flat for the fiscal 2023 full year compared to fiscal 2022.The Company ended the 2023 fiscal year with no borrowings under its credit facility and with a cash balance of $9.2M . Total merchandise inventories decreased by 7.8% as of the end of fiscal 2023 versus the end of the prior fiscal year. The Company expects to issue earnings results for the fiscal 2023 fourth quarter and full year in late February 2024.