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Big 5 Sporting Goods Corp – A Benchmark Chain of Sports Goods
When you look for one of America’s top retailers of name brand sporting goods and accessories, Big 5 Sporting Goods is the name which will pop out amongst the top. The sporting goods retailer is headquartered in El Segundo, California, and has a distribution center at Sycamore Canyon Blvd. Riverside, California.
Their store format is traditional area-wise as each store occupies approximately 11,000 square feet. They offer a full-line sports product range composed of the team and individual equipment’s for winter and summer recreation sports, golf, camping, hunting, fishing, tennis, roller sports, and fitness. Equipment includes accessories, apparel, and shoes.
At present, Big 5 Sporting Goods Corp operates in nearly 432 stores across 11 US states. The e-commerce platform is listed on NASDAQ (BGFV). Big 5 went public with an IPO in June 2002 and earned over $100 Million to further finance its growth in future. The company strategy for growth is based on controlled expansion in the markets beyond the state of California, low prices, and convenient shopping. The annual revenue of the company is estimated at $1.03 Billion. Big 5 holds a market cap of $344.84 Million, with the net annual income of $13.47Million. There is a 32.22% growth in the company’s gross quarterly profit with its profit margins seeing a 2.93% growth per quarter.
The Third Fiscal Quarter Results For 2016 show –
- 8% Same Store Sales Increase.
- Including charges of $0.03 per diluted share, the 3rd quarter diluted share earnings are reported at $0.38.
- 20% Increase in the quarterly cash dividend to $0.15 per share.
The foundation of the current over $1 Billion sports good retailer was laid down in 1955 with the opening of “Big 5 Stores” in September 1955 in downtown Southern California under the cooperate name of United Merchandising Corporation. Maurie I. Liff, Harry A. Liff, and Robert W. Miller were the co-founders. In fact, the current CEO (Chief Executive Officer) of the company Steven G. Miller is the son of Robert W. Miller. At the start the company used to deal in surplus items of WORLD WAR II. Soon they added sports goods to the mix. After the overwhelming response from the population of Southern California, in December 1963 the trade name was changed to “Big 5 Sporting Goods.”
In 1971 Thrifty Drug Stores acquired Big 5 Sporting Goods. Robert Miller was leading the company which acted as a subsidiary to Thrifty. In 1992 Leonard Green & Partners, a Los Angeles private equity firm, acquired Big 5 Sporting Goods. Steven Miller was named President and Chief Operating Officer with Robert Miller performing the role of CEO and Chairman of Big 5. After the management of the company raised $250 Million led by the Millers, the company’s controlling stake went into the hands of management and therefore, many employees take a personal interest in making Big 5 Sporting Goods prosperous.
Social Responsibility –
Big 5 Sporting Goods limit its charitable contributions to fundraisers and donations in the form of Big 5 Ticket to Shop card due to the hundreds of requests for donations and sponsorships. Within 5-6 months, which is usually the cards expiry date, these cards can be used for raffles, auctions, prize giveaways, and drawings.
Besides, there are several events in which Big 5 Sporting Goods actively takes part in, such as Duke City Marathon, Los Angeles Cancer Challenge, Hollenbeck Toy Drive, Big 5K LA Marathon, Bay To Breakers etc.
As of now, the company is enjoying foremost place in the good books of the investors, thanks to its robust outlook, strong earning trends, dynamic store presentation strategies, financial stability, and productive growth plans. All these factors have helped to carry VGM Style Score of “A” and has steered its way to gain the Zacks Rank #1 (Strong Buy). Moreover, its share have witnessed a staggering surge of 75.2% in 2016, hence making it a preferred company to put your money in.
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