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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): April 20, 1998
Big 5 Corp.
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(Exact name of registrant as specified in its charter)
Delaware 333-43129 95-1854273
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(State or other (Commission (IRS Employer
jurisdiction of File Number) Identification No.)
incorporation)
2525 East El Segundo Boulevard
El Segundo, California 90245
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(Address of principal executive offices)
Registrant's telephone number, including area code: 310/536-0611
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(Former name, if changed since last report)
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Item 5. Other Events.
BIG 5 CORP. REPORTS FIRST QUARTER RESULTS
El Segundo, California (April 20, 1998) -- Big 5 Corp. reported net
sales of $110.1 million for the first quarter ended March 29, 1998 an increase
of 13.7%, compared to net sales of $96.8 million for the comparable prior
period. The Company's comparable store sales increased 8.9% for the quarter.
The Company also experienced an increase in cash flow with "earnings before
interest, taxes, depreciation and amortization" (EBITDA) increasing 51.6% to
approximately $6.0 million for the first quarter ended March 29, 1998 from
approximately $4.0 million during the same period last year.
The strong results for the quarter were primarily due to the continued
success of the Company's merchandising programs, a favorable winter season,
positive general economic conditions in the Western United States and an extra
business day in the accounting period due to the timing of the Easter holiday.
Big 5 Corp. is the leading sporting goods retailer in the Western United
States, operating 209 stores under the "Big 5 Sporting Goods" name. The Company
operates in California, Washington, Nevada, Arizona, Idaho, Oregon, New Mexico,
Texas and Utah. The Company had net sales of $443.5 million and EBITDA of $34.5
million for the fiscal year ended December 28, 1997. In November 1997, the
Company completed a transaction valued at approximately $250 million, in which
management acquired a majority interest in the Company.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
Big 5 Corp.
By: /s/ CHARLES P. KIRK
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Charles P. Kirk
Senior Vice President and
Chief Financial Officer
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