By AMANDA KIMBLE
STEPHENVILLE (July 14, 2016) – Local shoppers have received a bit of bad news. Soon there will be one less place to shop, as Big 5 Sporting Goods will be closing its doors.
While local management verified the pending closure, they declined to say when the shuttering of the store is expected and how many employees work at Big 5 in Stephenville.
Questions to corporate contacts, but calls to Big 5 offices in California were not returned as of posting.
But, several newspapers are reporting the Stephenville location is one of five closing across Texas. A banner outside of Washington Street store announces the pending closure, saying everything must go. Similar signs are reportedly hanging outside of Big 5 locations in Amarillo, Plainview, Lubbock and Odessa.
Trading as BGFV on the NASDAQ Index, Big 52-week low June 1, according to equities.com.
In early May, the corporation announced its first quarter earnings and losses for the 2016 fiscal year, with net sales more than $9 million below the same quarter last year and an almost two-percent decrease in sales.
In May, Big 5 investor relations reported four stores had closed during the first quarter of fiscal year (FY) 2016, ending the quarter with 434 stores in operation. It also said the corporation anticipated closing approximately 10 stores during FY 2016.
Texas is the most easterly home to Big 5, which is spread throughout 11 states and headquartered in El Segundo, California. Despite the announcement of closures in the Lone Star State, the FY 2016 outlook included the opening of new stores in other locations at the end of the first quarter.
With big box stores offering similar products at comparable prices, FY 2016 has been tough on sporting good stores. Earlier this year, two companies filed for bankruptcy, leading to the closure of 140 Sports Authority stores and almost 50 Sports Chalet stores, according to consumerist.com.