Big 5 stock falls after Q3 results, dividend increase

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Shares of Big 5 Sporting Goods Corp. fell more than 9% in the extended session Tuesday after the retailer reported fiscal 2020 third-quarter sales below Wall Street expectations, but which the company called the “strongest” in memory. Big 5 earned $28.4 million, or $1.31 a share, in the quarter, compared with $6.4 million, or 30 cents a share, in the third quarter of fiscal 2019. Sales rose to $305 million, compared with $266 million a year ago. Same-store sales rose 15% for the quarter, the company said. FactSet consensus called for sales of $313 million in the quarter. There was no consensus for GAAP EPS available on FactSet. “I am pleased to report an exceptional third quarter, which represents the strongest sales and earnings performance in our 65-year history,” Chief Executive Steven G. Miller said in a statement. The retailer’s products resonated “with consumers who are looking for ways to stay healthy and active.” The company ended the quarter with no borrowings and nearly $56 million in cash, it said. As a result, its board authorized a dividend increase to 10 cents a share from 5 cents a share, payable Dec. 15 to stockholders of record as of Dec. 1, it said.

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