- Reports Fourth Quarter Same Store Sales Decline of 8.6%, In Line With Previously Issued Guidance

- Fourth Quarter Earnings Guidance Narrowed to a Range of $0.13 - $0.16 Per Diluted Share Compared to Previous Range of $0.07 - $0.17 Per Diluted Share

EL SEGUNDO, Calif., Jan. 8 /PRNewswire-FirstCall/ -- Big 5 Sporting Goods Corporation (Nasdaq: BGFV), a leading sporting goods retailer, today reported sales results for the fiscal 2008 fourth quarter and full year ended December 28, 2008.

For the fiscal 2008 fourth quarter, net sales were $219.6 million, compared to net sales of $232.1 million for the fourth quarter of fiscal 2007. Same store sales declined 8.6% for the fourth quarter due to a decrease in customer traffic resulting from the continuation of the challenging consumer environment. As anticipated, the Company's product selling margins were lower than the prior year, declining 50 basis points during the fourth quarter.

For the fiscal 2008 full year, net sales decreased $33.6 million, or 3.7%, to $864.7 million from $898.3 million for the fiscal 2007 full year. Same store sales declined 7.0% for the fiscal 2008 full year.

For the fiscal 2008 fourth quarter, the Company expects to realize earnings per diluted share in the range of $0.13 to $0.16, which is toward the upper end of previously issued earnings guidance. For the fiscal 2008 full year, the Company expects to realize earnings per diluted share in the range of $0.61 to $0.64.

'Given the unprecedented challenges that we and most retailers faced over the holiday season, we are pleased to report sales in line with, and anticipated earnings toward the upper end of, our previously issued guidance,' said Steven G. Miller, the Company's Chairman, President and Chief Executive Officer. 'Importantly, we produced our fourth quarter sales without significantly compromising product margins. We believe our ability to deliver these results in this environment reflects the strength of our business model and reputation for offering values on quality merchandise, which has been a hallmark of our success for over 50 years. During the quarter, our three major merchandise categories performed within a relatively tight range of one another, with hard goods being our strongest category, followed by footwear and apparel.'

Mr.