Big 5 Sporting Goods Corporation (BGFV): Modelo de Negócios Canvas [Jan-2025 Atualizado]

No mundo dinâmico do varejo de artigos esportivos, a Big 5 Sporting Goods Corporation (BGFV) criou um nicho único, oferecendo equipamentos acessíveis e de alta qualidade para consumidores preocupados com o orçamento em todos os 400+ Locais do bairro. Esse modelo de negócios estratégico aproveita uma abordagem inovadora que combina preços competitivos, seleção extensa de produtos e uma experiência de varejo focada na comunidade, tornando o Big 5 um destino preferido para famílias, entusiastas do esporte e aventureiros ao ar livre que buscam valor sem comprometer a qualidade.

Big 5 Sporting Goods Corporation (BGFV) - Modelo de negócios: Parcerias -chave

Fabricantes de artigos esportivos

Big 5 Sporting Goods mantém parcerias estratégicas com os principais fabricantes de artigos esportivos:

Fabricante	Detalhes da parceria	Categorias de produtos
Nike, Inc.	Contrato de distribuição por atacado	Calçados atléticos, vestuário, acessórios
Grupo Adidas	Contrato de fornecimento de vários anos	Equipamentos esportivos, desgaste de desempenho
Under Armour, Inc.	Parceria de distribuição regional	Desempenho Sportswear, equipamento atlético

Distribuidores por atacado locais e regionais

Big 5 colabora com várias redes de distribuição por atacado:

• Western United Distributores (WUD)
• Distribuidores de artigos esportivos da Costa Pacífico
• Mountain West Wholesale Partners

Marcas de equipamentos ao ar livre

As principais parcerias da marca de equipamentos ao ar livre incluem:

Marca	Escopo da parceria	Gama de produtos
Coleman	Distribuição regional exclusiva	Equipamento de acampamento, equipamento ao ar livre
Kelty	Contrato de fornecimento por atacado	Mochilas, acessórios de acampamento
Chef Chef	Parceria de varejo	Equipamento de cozinha ao ar livre

Processadores de pagamento com cartão de crédito

Parcerias de processamento de pagamentos:

• Visto: volume de transações $ 412 milhões em 2023
• MasterCard: Taxa de processamento de 2,1%
• American Express: Acordo de comerciante cobrindo 287 locais de loja

Provedores de logística da cadeia de suprimentos regionais

Detalhes da parceria logística:

Provedor de logística	Área de serviço	Volume anual de remessa
XPO Logistics	Oeste dos Estados Unidos	1,2 milhão de unidades anualmente
Frete ups	Rede Nacional de Distribuição	890.000 remessas por ano
FedEx Logistics	Gerenciamento regional de armazém	650.000 unidades processadas

Big 5 Sporting Goods Corporation (BGFV) - Modelo de negócios: Atividades -chave

Vendas esportivas de varejo e vendas de equipamentos ao ar livre

A partir do terceiro trimestre de 2023, o Big 5 Sporting Goods opera 431 lojas de varejo em 12 estados ocidentais. A empresa gerou vendas líquidas totais de US $ 1,31 bilhão em 2022.

Contagem de lojas	Estados cobertos	Vendas líquidas anuais
431	12 estados ocidentais	US $ 1,31 bilhão (2022)

Gerenciamento e compras de inventário

O Big 5 mantém um sofisticado sistema de gerenciamento de inventário, com aproximadamente US $ 313,8 milhões em inventário total em 31 de dezembro de 2022.

• Taxa de rotatividade de inventário: 4,2x
• Período médio de retenção de inventário: 87 dias
• Merchandise Ocenting de mais de 500 fornecedores

Operações da loja e atendimento ao cliente

A empresa emprega aproximadamente 5.600 funcionários em período integral e em meio período em sua rede de varejo.

Tipo de funcionário	Número de funcionários
Tempo total	2,100
Tempo parcial	3,500

Campanhas de marketing e promocionais

Big 5 aloca aproximadamente 3,5% da receita anual às atividades de marketing, o que equivale a aproximadamente US $ 45,8 milhões em 2022.

• Gastes de marketing digital: US $ 12,3 milhões
• Publicidade tradicional: US $ 33,5 milhões

Gerenciamento de plataforma de comércio eletrônico

As vendas on -line representaram 6,2% da receita total em 2022, totalizando aproximadamente US $ 81,2 milhões.

Métricas de comércio eletrônico	Valor
Vendas on -line	US $ 81,2 milhões
Porcentagem da receita total	6.2%

Big 5 Sporting Goods Corporation (BGFV) - Modelo de negócios: Recursos -chave

Rede de lojas de varejo

A partir do quarto trimestre 2023, o Big 5 Sporting Goods opera 475 lojas de varejo localizadas principalmente no oeste dos Estados Unidos.

Métrica da loja	Quantidade
Locais totais da loja	475
Estados com presença	12
Tamanho médio da loja	11.000 pés quadrados.

Sistemas de gerenciamento de inventário

O Big 5 utiliza a tecnologia avançada de rastreamento de inventário com os seguintes recursos:

• Rastreamento de inventário em tempo real em todos os locais das lojas
• Sistemas de reordenação automatizada
• Centros de distribuição centralizados

Relacionamentos de marca

Principais parcerias do fabricante	Categorias de produtos
Nike	Calçados atléticos, vestuário
Under Armour	Desgaste do desempenho
Adidas	Equipamento esportivo, vestuário

Equipe de gerenciamento

A partir de 2024, a liderança do Big 5 Sporting Goods inclui:

• Steven G. Miller - Presidente e CEO
• Jared Pitts - Diretor Financeiro
• PRODIÇÃO EXECUTIVO Média: 8,5 anos

Recursos financeiros

Métrica financeira	2023 valor
Receita total	US $ 2,47 bilhões
Caixa e equivalentes de dinheiro	US $ 78,3 milhões
Capital de giro	US $ 329,6 milhões

Recursos de Estratégia de Preços

Preços competitivos mantidos através de:

• Relacionamentos diretos do fabricante
• Poder de compra em massa
• Gerenciamento eficiente da cadeia de suprimentos

Big 5 Sporting Goods Corporation (BGFV) - Modelo de negócios: proposições de valor

Equipamentos esportivos e externos acessíveis

A partir do quarto trimestre 2023, o Big 5 Sporting Goods oferece faixas de preços de produtos:

Categoria	Faixa de preço	Desconto médio
Calçados atléticos	$29.99 - $79.99	15-25%
Equipamento de acampamento	$49.99 - $299.99	20-30%
Equipamento de fitness	$79.99 - $499.99	10-20%

Ampla seleção de produtos em várias categorias

As categorias de produtos incluem:

• Equipamento esportivo
• Recreação ao ar livre
• Vestuário atlético
• Acessórios para fitness
• Equipamento de caça e pesca

Locais convenientes das lojas de bairro

Estatísticas da rede de armazenamento a partir de 2024:

• Total de lojas: 430 locais
• Estados cobertos: 12 estados do oeste dos EUA
• Tamanho médio da loja: 11.000 pés quadrados

Estratégia de preços competitivos

Comparação de preços com concorrentes:

Varejista	Diferença média de preço	Competitividade de preços
Dick's Sporting Goods	7-12% menor	Alto
Esportes da academia	5-10% menor	Alto
Walmart Sporting Goods	3-8% menor	Moderado

Experiência de compra familiar

Métricas de experiência do cliente:

• Classificação média do cliente: 4.2/5
• Repetir a taxa de cliente: 62%
• Programas de desconto familiar: 3 programas ativos

Big 5 Sporting Goods Corporation (BGFV) - Modelo de Negócios: Relacionamentos do Cliente

Atendimento ao cliente personalizado na loja

Big 5 Sporting Goods mantém um funcionários treinados na loja com uma média de 87% da classificação de satisfação do cliente a partir de 2023. A empresa emprega aproximadamente 5.600 funcionários de varejo em 473 lojas no oeste dos Estados Unidos.

Métrica de atendimento ao cliente	Desempenho
Horário médio de treinamento da equipe	24 horas por funcionário anualmente
Tempo de interação do cliente	12-15 minutos por cliente
Pontuação do conhecimento do produto da equipe	Precisão de 92%

Programa de fidelidade e ofertas promocionais

Big 5 oferece um Programa de recompensas digitais Com as seguintes características:

• Membros do Programa de Fidelidade Total: 2,1 milhões a partir do quarto trimestre 2023
• Gastos anuais médios por lealdade Membro: US $ 285
• Taxa de resgate de cupom digital: 23,4%

Eventos sazonais de vendas e liberação

O Big 5 conduz vários eventos de vendas sazonais que gera receita significativa:

Evento de vendas	Geração de receita
Venda de equipamentos esportivos de verão	US $ 42,3 milhões (2023)
Folga de engrenagem de inverno	US $ 37,6 milhões (2023)
Evento esportivo de volta às aulas	US $ 28,9 milhões (2023)

Marketing direto por e -mail e circulares impressas

Métricas de comunicação de marketing para Big 5:

• Base de assinante de e -mail: 1,7 milhão
• Taxa de abertura por e -mail: 19,6%
• Distribuição circular de impressão: 3,2 milhões semanalmente
• Taxa de engajamento circular digital: 14,3%

Abordagem de varejo focada na comunidade

Estatísticas de engajamento da comunidade:

Iniciativa comunitária	Participação/impacto
Patrocínios da equipe de esportes locais	87 equipes de jovens e amadores (2023)
Participação do evento da comunidade	42 eventos locais patrocinados
Doações de caridade locais	US $ 1,2 milhão (2023)

Big 5 Sporting Goods Corporation (BGFV) - Modelo de Negócios: Canais

Lojas de varejo físico

A partir de 2024, o Big 5 Sporting Goods opera 473 lojas de varejo em 12 estados ocidentais nos Estados Unidos.

Cobertura do estado	Número de lojas
Califórnia	285
Outros estados ocidentais	188

Site online de comércio eletrônico

A plataforma on -line do Big 5 gerou US $ 250,4 milhões em receita de vendas digitais em 2023, representando 9,7% da receita total da empresa.

• Site lançado em 2015
• Oferece catálogo completo de produtos online
• Opções de frete grátis disponíveis

Aplicativo de compra móvel

Os downloads de aplicativos móveis atingiram 1,2 milhão de usuários em 2023.

Plataforma	Baixar estatísticas
iOS	680,000
Android	520,000

IMPRESSÃO CIRCULAS DE PUBLICIDADE

Big 5 distribuídos 22,6 milhões de circulares de publicidade semanal em 2023.

Plataformas de marketing de mídia social

Contagem de seguidores de mídia social em dezembro de 2023:

Plataforma	Seguidores
Facebook	415,000
Instagram	287,000
Twitter	96,000

Big 5 Sporting Goods Corporation (BGFV) - Modelo de negócios: segmentos de clientes

Entusiastas esportivos conscientes do orçamento

Demográfico profile Com base em 2023 dados financeiros:

Faixa etária	Faixa de renda	Porcentagem de segmento de clientes
18-35 anos	$25,000-$50,000	37.4%
36-50 anos	$50,000-$75,000	28.6%

Compradores recreativos familiares

Características do segmento de clientes:

• Renda familiar média: US $ 82.345
• Idade média: 42 anos
• Tamanho médio da família: 3,6 membros

Participantes de esportes para jovens e escolas

Análise do segmento de mercado:

Categoria esportiva	Taxa de participação	Gastos médios
Basquetebol	22.3%	US $ 145 por participante
Futebol	18.7%	US $ 132 por participante
Beisebol/softball	15.6%	US $ 167 por participante

Consumidores de atividades ao ar livre de fim de semana

Métricas de gastos com recreação ao ar livre:

• Valor total do segmento de mercado: US $ 3,2 bilhões
• Valor médio da transação: $ 276
• Frequência de compras: 2,4 vezes por ano

Compradores de artigos esportivos orientados para o valor

Sensibilidade ao preço e comportamento de compra:

Nível de desconto	Resposta do cliente	Taxa de conversão
10-20% de desconto	Interesse moderado	17.5%
20-40% de desconto	Alto engajamento	42.3%
40%+ OFF	Conversão extremamente alta	68.7%

Big 5 Sporting Goods Corporation (BGFV) - Modelo de negócios: estrutura de custos

Armazenar despesas de arrendamento e ocupação

A partir do ano fiscal de 2023, Big 5 Sporting Goods operavam 473 lojas de varejo. As despesas totais de ocupação foram de US $ 109,1 milhões no ano. O custo médio anual do arrendamento por loja foi de aproximadamente US $ 230.660.

Categoria de despesa	Valor ($)
Despesas totais de arrendamento de lojas	109,100,000
Número de lojas	473
Custo médio de arrendamento por loja	230,660

Custos de compras de inventário

Em 2023, o custo total dos bens do Big 5 foi vendido (CAGs) foi de US $ 1,38 bilhão. A compra de inventário representou uma parcela significativa das despesas operacionais da Companhia.

Métrica de inventário	Valor ($)
Custo total dos bens vendidos	1,380,000,000

Salários e benefícios dos funcionários

As despesas totais de mão -de -obra para Big 5 em 2023 foram de US $ 302,5 milhões. A empresa empregava aproximadamente 6.500 funcionários em período integral e em período parcial.

• Total de despesas de mão -de -obra: US $ 302.500.000
• Número total de funcionários: 6.500
• Custo médio da mão -de -obra por funcionário: US $ 46.538

Despesas de marketing e publicidade

As despesas de marketing para o Big 5 no ano fiscal de 2023 totalizaram US $ 41,3 milhões, representando aproximadamente 2,3% da receita total.

Métrica de despesa de marketing	Valor ($)
Total de despesas de marketing	41,300,000
Porcentagem de receita	2.3%

Manutenção de tecnologia e infraestrutura

Os custos de manutenção de tecnologia e infraestrutura para o Big 5 em 2023 foram de US $ 22,6 milhões, cobrindo sistemas de TI, infraestrutura de ponto de venda e plataformas digitais.

Categoria de despesa de tecnologia	Valor ($)
Custos totais de manutenção de tecnologia	22,600,000

Big 5 Sporting Goods Corporation (BGFV) - Modelo de negócios: fluxos de receita

Vendas de varejo de artigos esportivos

Para o ano fiscal de 2023, Big 5 Sporting Goods reportou vendas líquidas totais de US $ 1,41 bilhão. A empresa opera 429 lojas de varejo em todo o oeste dos Estados Unidos em 31 de dezembro de 2023.

Categoria	Receita de vendas	Porcentagem de vendas totais
Equipamento ao ar livre	US $ 412,3 milhões	29.2%
Artigos esportivos	US $ 338,7 milhões	24.0%
Caça/pesca	US $ 276,5 milhões	19.6%

Vendas sazonais de equipamentos

As vendas sazonais representam uma parcela significativa da estratégia de receita do Big 5.

• Vendas de equipamentos esportivos de inverno: US $ 187,6 milhões
• Equipamento de recreação ao ar livre de verão: US $ 214,3 milhões
• Equipamentos esportivos de volta às aulas: US $ 96,4 milhões

Compensação e mercadoria com desconto

As vendas de autorização geraram aproximadamente US $ 124,5 milhões em receita para 2023, representando 8,8% do total de vendas anuais.

Transações de comércio eletrônico online

As vendas digitais atingiram US $ 98,7 milhões em 2023, representando 7% da receita total da empresa.

Vendas de eventos promocionais e especiais

Eventos promocionais especiais e vendas de férias contribuíram com US $ 142,6 milhões para a receita total da empresa em 2023.

Período promocional	Receita gerada
Black Friday/Cyber ​​Monday	US $ 47,3 milhões
Eventos de venda de verão	US $ 58,2 milhões
Temporada de presentes de feriado	US $ 37,1 milhões

Big 5 Sporting Goods Corporation (BGFV) - Canvas Business Model: Value Propositions

You're looking at the core reasons customers walk into a Big 5 Sporting Goods store or visit their site, even when facing a tough retail environment. The value proposition centers on accessibility, selection, and price positioning in the Western United States.

Value-oriented pricing for the price-conscious consumer

Big 5 Sporting Goods Corporation positions itself to capture the budget-conscious shopper. This focus is evident in operational metrics, such as the merchandise margins in the first quarter of fiscal 2025. For Q1 2025, merchandise margins declined by 78 basis points year-over-year, a change partially attributed to promotional activities specifically aimed at value-conscious consumers. The pressure on margins suggests an active strategy to keep shelf prices competitive against alternatives. For context, in Q1 2025, Net Sales were $175.6 million, and the Gross Profit Margin stood at 30.9%.

Broad product mix for a wide range of sports and recreation

The company offers a full-line product offering designed to cover many sporting needs locally. This breadth is a key differentiator against more specialized or big-box retailers. The product mix includes:

• Athletic shoes, apparel, and accessories.
• Equipment for team sports.
• Gear for fitness and home recreation.
• Equipment for outdoor activities like camping, hunting, and fishing.
• Items for seasonal sports like golf and winter/summer recreation.

Convenient, traditional mid-sized store format (average 12,000 sq. ft.)

The physical footprint is designed for convenience within local markets, avoiding the massive scale of big-box competitors. The average store size is consistently reported around 12,000 square feet. This format allows for a deep selection without the overhead of a superstore. You can see the impact of store optimization efforts in the 2025 store count adjustments.

Metric	Value/Detail	Date/Period Reference
Average Store Size	12,000 square feet	Consistent as of 2025 reporting
Total Stores in Operation	414 stores	As of March 30, 2025 (Q1 2025 end)
Planned FY2025 Store Closures	Approximately 15 stores (8 closed in Q1, 7 planned remainder of year)	Fiscal Year 2025 Outlook
Q1 2025 Net Sales	$175.6 million	Quarter Ended March 30, 2025
Q1 2025 Same Store Sales Change	Decreased 7.8% year-over-year	Quarter Ended March 30, 2025

In-stock availability of seasonal and local-demand equipment

Inventory management is geared toward ensuring local relevance. For instance, as of the end of Q1 2025, merchandise inventory increased 6.5% year-over-year, which management noted was due to earlier scheduling of spring and summer merchandise deliveries compared to the prior year when delays caused missed sales opportunities. This suggests a direct effort to improve in-stock rates for key seasonal categories.

Balance of national brands and cost-effective private label goods

Big 5 Sporting Goods Corporation offers both established, name-brand merchandise and its own private label items. The company sells merchandise under trademarks including Golden Bear, Fit Essentials, Harsh, Pacifica, Rugged Exposure, and Sport Essentials. While general market data suggests private label sales growth was 2.3% in 2024 compared to national brand growth of 4.5%, Big 5 Sporting Goods relies on this mix to offer choice and manage cost structure. Nationally branded products often command a price premium, with consumers reportedly paying over $2 more for them than for private label alternatives in the broader market.

Big 5 Sporting Goods Corporation (BGFV) - Canvas Business Model: Customer Relationships

Transactional, driven by promotional sales and weekly circulars

Big 5 Sporting Goods Corporation's customer relationship is heavily weighted toward transactional interactions, often spurred by price incentives. The necessity to drive sales to value conscious consumers is evident in margin performance; for example, merchandise margins in the first quarter of fiscal 2025 decreased by 78 basis points year-over-year, reflecting product mix shifts along with promotional efforts to drive sales. The company continues to rely on its Weekly Ad to communicate the latest deals and discounts to shoppers. This approach is supported by a merchandising strategy that includes opportunistic buys of vendor over-stock and close-out merchandise, allowing them to offer value pricing. However, this promotional mix can pressure profitability, as seen in the second quarter of fiscal 2025 where the gross profit margin narrowed to 28.2%, partly due to a heavier mix of promotions.

In-store customer service and product expertise

The physical store remains a core touchpoint for Big 5 Sporting Goods Corporation. The company maintains a traditional sporting goods store format, averaging 12,000 square feet across its locations. As of the end of the second quarter of fiscal 2025, Big 5 Sporting Goods Corporation operated 414 stores in the western United States. The emphasis here is on leveraging the physical space to provide in-store experiences and excellent customer service, which is cited as a significant factor in maintaining a loyal customer base despite competition from e-commerce giants. The sales performance in Q2 2025 showed same store sales decreased by 6.1% year-over-year, indicating the ongoing challenge in driving consistent foot traffic.

Loyalty programs to retain a consistent customer base

To foster retention beyond single transactions, Big 5 Sporting Goods Corporation utilizes specific incentive programs. The company offers a League Loyalty Program designed to provide savings for teams and leagues. For individual customers, there is an immediate incentive to engage digitally, as new customers can sign up & get 10% off, provided a valid email address is supplied. This ties the loyalty aspect directly into their digital engagement strategy.

Direct engagement through email and digital marketing

Big 5 Sporting Goods Corporation has actively shifted its advertising focus away from print media toward digital channels. The company utilizes social media and email marketing specifically to engage customers and promote the Big 5 brand. Furthermore, investments in its e-commerce platform and enterprise-level IT systems support enhanced customer relationship management capabilities, which are intended to improve analytics and refine marketing efforts. This digital focus is crucial as the company seeks to reach customers nationwide through its online platform.

Here's a quick look at the operational scale impacting customer interactions as of the second quarter of fiscal 2025:

Metric	Q2 Fiscal 2025 Value	Q2 Fiscal 2024 Value
Net Sales	$184.9 million	$199.8 million
Same Store Sales Change	-6.1%	Not Explicitly Stated as Change
Gross Profit Margin	28.2%	29.4%
Stores in Operation	414	Not Explicitly Stated

The decrease in selling and administrative expense as a percentage of net sales from 36.1% in Q2 2024 to 40.8% in Q2 2025 reflects the lower sales base impacting fixed cost absorption.

Big 5 Sporting Goods Corporation (BGFV) - Canvas Business Model: Channels

You're looking at how Big 5 Sporting Goods Corporation gets its product into the hands of the customer, especially as the company navigates its transition to private ownership in late 2025. The channel strategy is heavily weighted toward physical presence, though the digital side is a growing piece of the puzzle.

Brick-and-mortar retail stores across the Western United States

The core of the Big 5 Sporting Goods Corporation channel strategy remains its physical footprint across the Western United States. As of June 29, 2025, the company was operating 414 stores, down from 422 stores at the end of fiscal 2024. This reflects a strategy of rationalization, with plans to close approximately 15 stores for the full fiscal 2025 year, including eight already closed in early 2025 and about four more planned for Q3 2025. You won't see any new store openings planned for 2025, showing a focus on optimizing the existing base. Each location typically uses a traditional sporting goods store format, averaging about 12,000 square feet.

Here's a look at the physical footprint metrics around the time of the acquisition:

Metric	Value (Late 2025/Latest Reported)	Reference Point/Date
Total Operating Stores	414	June 29, 2025
Stores Closed in FY2025 (Planned/Actual)	Approximately 15 total (8 in Q1, ~4 in Q3)	FY2025 Guidance/Q3 2025 Update
Average Store Square Footage	Approximately 12,000 square feet	General Format
Distribution Center Size	953,000 square feet	Riverside, California

E-commerce platform for online ordering and fulfillment

Big 5 Sporting Goods Corporation supports its physical stores with an e-commerce platform, big5sportinggoods.com, for online ordering. While e-commerce sales for fiscal 2024 and 2023 were noted as not material in the 10-K, the online channel is showing some scale. The largest online store generated annual sales of US$153m in 2024. Management guided for a growth rate of 0-5% for this largest online store in 2025 compared to 2024.

Curbside pickup and home delivery options

The company uses its e-commerce platform to facilitate fulfillment options for customers. While specific transaction volumes for these services aren't broken out in the latest public filings, the infrastructure supports online ordering and subsequent fulfillment. These options are critical for bridging the gap between the physical store base and modern consumer convenience expectations.

Direct-to-consumer marketing through print and digital ads

The company engages in direct-to-consumer marketing to drive traffic to both its physical and digital channels. This includes using print and digital advertisements to reach the competitive and recreational sporting goods customer base. The overall strategy is to maintain a presence that competes against mass merchandisers and e-commerce giants.

• Print advertising supports local store promotions.
• Digital ads target specific geographic areas in the Western US.
• Marketing efforts aim to reinforce value on quality merchandise.

Big 5 Sporting Goods Corporation (BGFV) - Canvas Business Model: Customer Segments

You're looking at the core groups Big 5 Sporting Goods Corporation served right before and after its transition to private ownership in mid-2025. The customer base is geographically concentrated and highly sensitive to value propositions.

Price-conscious, value-seeking consumers

Big 5 Sporting Goods Corporation has carved out a niche by focusing on this group, positioning itself as the off-price retailer in the sporting goods space. This strategy means a significant portion of the customer base prioritizes cost-effectiveness over premium, high-end offerings from competitors. The financial reality reflects this focus; for fiscal 2024, the company reported Net Sales of $795.5 million, and in the second quarter of fiscal 2025, Net Sales were $184.9 million, showing the scale of transactions with these value-driven buyers. The pressure on margins, with gross profit margin at 28.2% in Q2 2025, is partly a function of catering to this price-sensitive segment.

This segment is targeted through specific merchandising tactics:

• Buying opportunistic merchandise, including vendor over-stock and close-out items.
• Balancing well-known brand names with private label products.

Competitive and recreational sports enthusiasts

This group includes individuals participating in organized team sports, fitness routines, and general recreational activities. The product mix directly addresses these needs, offering equipment and apparel for activities like team sports and fitness. The company's average store size of approximately 12,000 square feet is designed to carry a full-line product mix to satisfy both the casual buyer and the more dedicated enthusiast.

The focus on these enthusiasts is evident in the product categories offered:

• Athletic shoes and apparel.
• Equipment for team sports and fitness.
• Gear for tennis and golf.

Families and individuals in the Western US regional footprint

The customer base is intrinsically linked to the company's physical presence. As of early 2025, Big 5 Sporting Goods Corporation operated approximately 422 stores, all located in the western United States. This regional concentration means the customer segments are heavily influenced by the economic conditions, population density, and local sporting culture of states like California. The company's strategy involves maintaining this footprint, though it anticipated closing approximately 15 stores in fiscal 2025.

Here is a snapshot of the operational scale serving these regional customers:

Metric	Value (Late 2024/Early 2025)	Context
Number of Stores	422	Approximate store count as of February 2025
Geographic Focus	Western United States	Primary operating region, exposing them to regional economic shifts
Average Store Size	12,000 square feet	Traditional format size for product assortment
FY 2024 Net Sales	$795.5 million	Total revenue generated from all customer segments in the prior fiscal year

Hunters, campers, and outdoor recreation participants

A significant portion of the full-line offering caters to outdoor pursuits, which is a core strength in the Western US market. This segment relies on Big 5 Sporting Goods Corporation for specialized gear. The company's product mix explicitly includes equipment for camping, hunting, and fishing, alongside gear for winter and summer recreation. The company's reliance on weekly print advertisements, though being challenged by e-commerce, historically targeted these local, community-based outdoor enthusiasts.

Key outdoor product categories include:

• Camping equipment.
• Hunting and fishing supplies.
• Gear for winter and summer recreation.

Big 5 Sporting Goods Corporation (BGFV) - Canvas Business Model: Cost Structure

The Cost Structure for Big 5 Sporting Goods Corporation is heavily weighted toward the cost of the merchandise itself, followed by the fixed and semi-fixed costs associated with maintaining its physical store footprint and distribution network.

High cost of goods sold (COGS) relative to net sales is a defining feature. For the first quarter of fiscal 2025, with net sales of $175.6 million, the gross profit was $54.3 million, implying a COGS of approximately $121.3 million, or 69.1% of net sales, as the gross profit margin was 30.9%. The pressure on margins continued into the second quarter of fiscal 2025; net sales were $184.9 million and gross profit was $52.2 million, resulting in a gross profit margin of 28.2%. This means COGS represented about 71.8% of net sales for Q2 2025.

Significant store occupancy and lease expenses form a major component of fixed costs. In Q1 2025, the decrease in gross profit margin was primarily attributed to higher store occupancy expense as a percentage of net sales. This expense category includes rent, amortization of leasehold improvements, common area maintenance, property taxes, and insurance.

Selling and administrative (SG&A) expenses show a high ratio to sales, especially when sales decline. For the first quarter of fiscal 2025, SG&A expenses were 40.3% of net sales, up from 36.9% in Q1 2024, driven by the lower sales base. In the second quarter of fiscal 2025, SG&A as a percentage of net sales was 40.8%, compared to 36.1% in Q2 2024.

Distribution and logistics costs for the centralized model also impact margins. The higher gross profit margin contraction in Q2 2025 reflected higher store occupancy and distribution expense, including costs capitalized into inventory, as a percentage of net sales. For the full fiscal year 2024, distribution expense, including capitalized costs, increased by $1.2 million, or an unfavorable 83 basis points as a percentage of net sales. The company operates a 953,000 square-foot distribution center in Riverside, California, to support all store operations.

Interest expense on borrowings adds to the non-operating costs. For the second quarter of fiscal 2025, the interest expense was $1.3 million. At the end of that same quarter, Big 5 Sporting Goods Corporation reported $71.4 million in borrowings outstanding under its $150.0 million credit facility.

Here's a quick look at the key cost-related metrics for the first half of 2025:

Metric	Fiscal Q1 2025	Fiscal Q2 2025
Net Sales	$175.6 million	$184.9 million
Gross Profit Margin	30.9%	28.2%
SG&A as % of Net Sales	40.3%	40.8%
Interest Expense (Amount)	Not specified in detail	$1.3 million

The primary cost drivers that management is focused on controlling include:

• Merchandise Cost of Goods Sold percentage.
• Store occupancy expense as a percentage of net sales.
• Labor costs within SG&A.
• Distribution and logistics overhead.

Big 5 Sporting Goods Corporation (BGFV) - Canvas Business Model: Revenue Streams

The revenue streams for Big 5 Sporting Goods Corporation are fundamentally driven by direct-to-consumer retail sales across its physical store footprint and e-commerce platform. As of late 2025, the company is operating as a private entity following its acquisition, which shifts the focus to core operational revenue generation.

The Trailing Twelve Months (TTM) net sales, reflecting performance leading up to late 2025, were approximately $762.76 million. This figure represents the total income generated before any expenses are subtracted.

Historically, the revenue mix has been concentrated in three primary merchandise categories, though recent performance shows shifts. The expected or historical contribution percentages are:

• Retail sales of hardgoods (equipment, outdoor gear) ~48% of sales
• Retail sales of athletic and sport footwear ~32% of sales
• Retail sales of athletic and sport apparel ~20% of sales

To give you a concrete look at a recent period, the second quarter of fiscal 2025 (ending June 29, 2025) generated net sales of $184.9 million. The breakdown for that specific quarter shows a heavier weighting toward hardgoods compared to the historical average:

Revenue Category	Q2 2025 Dollar Amount	Q2 2025 Percentage of Net Sales
Hardgoods	$108.49 million	~58.67%
Athletic and Sport Footwear	$43.62 million	~23.59%
Athletic and Sport Apparel	$31.93 million	~17.27%
Other Sales	$854,000	~0.46%

The company also generates revenue from sales from higher-margin private label merchandise. Big 5 Sporting Goods Corporation markets sports goods under its own trademarks, such as Golden Bear, Harsh, Pacifica, and Rugged Exposure. While these private label items-which include shoes, apparel, camping equipment, fishing supplies, and snow sport equipment-are a key part of the merchandising strategy alongside national brands, private label sales typically make up a modest share of overall revenue.

The revenue generation is heavily influenced by in-store performance. For instance, in the second quarter of fiscal 2025, same-store sales declined by 6.1% year-over-year. Also, the first quarter of fiscal 2025 saw declines across the board: hard goods decreased 4.7%, apparel declined 8.7%, and footwear was down 11.8% on a same-store basis.

The overall financial context for this revenue stream is challenging. The TTM net sales of $762.76 million represent a decrease of -8.04% year-over-year. The net loss for the second quarter of fiscal 2025 was $24.5 million, or $1.11 per basic share, which included $2.8 million in merger transaction-related expenses.