Big 5 Sporting Goods

Last updated
Big 5 Sporting Goods Corporation
Big 5 Sporting Goods
Company type Public
Nasdaq:  BGFV
S&P 600 Component
Industry
Founded1955;70 years ago (1955)
FounderMaury Liff
Headquarters,
United States
Number of locations
431 [1]
Key people
Steven G. Miller (CEO)
RevenueIncrease2.svg US$884.7 million (FY 2023) [2]
Decrease2.svg US$-48.2M 39 Weeks 2024 (FY 2024) [3]
Total assets Increase2.svg US$647M (FY 2023) [4]
Total equity Increase2.svg US$40.41M (FY 2024) [4]
Number of employees
2,300est. [5]
Website big5sportinggoods.com
Big 5 Sporting Goods store in Glendale, California (2007) Big5Glendale.jpg
Big 5 Sporting Goods store in Glendale, California (2007)

Big 5 Sporting Goods Corporation is a sporting goods retailer headquartered in El Segundo, California, with 434 stores in Arizona, California, Colorado, Idaho, Nevada, New Mexico, Oregon, Texas, Utah, Washington and Wyoming. [6] Steven G. Miller is the chairman, president, and CEO.

Contents

History

Big 5 was founded in September 1955 by Maurie I. Liff, Harry A. Liff and Robert W. Miller. [6] The name Big 5 is derived from the first five Army surplus stores that were opened in California. [7] Sportswest and Sportsland were acquired in May 1988 from Pay 'n Save subsequently.

In 1990, the company was fined $125,000 for selling discounted brand-name shoes that were actually poorly manufactured by those brands to be distributed only in Big 5 stores. For example, some New Balance models sold in Big 5 stores used a cardboard heel cup instead of a plastic heel cup. The investigation started when long-distance runner Gary Tuttle reported the oddly poor quality of the name-brand shoes he had purchased at Big 5 stores. [8]

In 1997, Robert W. Miller and his son Steven G. Miller bought Big 5 back from Leonard Green & Partners, owners since 1992, by acquiring a majority stake. By then, the company was making $400 million in revenue with 202 stores in 9 states. [9]

In 2016, the company posted net sales of $1.02 billion with 432 stores in 11 States. [10]

Description

Big 5 stores are smaller than big-box competitors, with an average size of 11,000 square feet, giving it an access to smaller malls and towns. The store sell name-brand products and Big 5 products. [7]

Big 5 stores sell firearms, but face ever-stricter local regulations regarding the secure sale of firearms. [11]

References

  1. Big 5 Sporting Goods Corporation Announces Fiscal 2011 First Quarter Results
  2. Big 5 Sporting Goods (BGFV) annual SEC income statement filing via Wikinvest.
  3. 1 2 Big 5 Sporting Goods (BGFV) annual SEC balance sheet filing via Wikinvest.
  4. "Company Profile for Big 5 Sporting Goods Corporation (BGFV)" . Retrieved 21 October 2008.
  5. 1 2 Dow Jones Client Solutions (September 5, 2010). "Investor Relations Home". Big 5 Sporting Goods. Big 5 Sporting Goods, Inc. Archived from the original on 6 September 2010. Retrieved September 5, 2010. Big 5 is the leading sporting goods retailer in western United States, operating stores in 12 states.
  6. 1 2 "Big 5 founder Robert W. Miller dies at age 85". Whittier Daily News. 2008-09-17. Retrieved 2024-05-22.
  7. Reed, Mack (1990-05-16). "Big 5 Fined $125,000 for False Advertising". Los Angeles Times. Retrieved 2024-05-22.
  8. Vrana, Debora (1997-10-09). "Big 5 Founder to Buy Majority Stake in Firm". Los Angeles Times. Retrieved 2024-05-22.
  9. "How Big 5 Sporting Goods is succeeding where other sporting goods stores have failed". Pasadena Star News. 2017-01-19. Retrieved 2024-05-22.
  10. "Council asks for new restrictions on gun sales and ownership". Santa Monica Daily Press. 2023-06-19. Retrieved 2024-05-22.