Another big quarter for BGFV. But stock kinda flat AH. Guessing it's the guidance. Q3 another strong quarter, but would be their first quarter of declining earnings in awhile. I'm curious to see which way this one trades tomorrow.
Third Quarter Guidance
For the fiscal 2021 third quarter, the Company expects same store sales in the flat to positive mid-single digit range and expects to realize earnings per diluted share in the range of $0.95 to $1.15. This compares to a same store sales increase of 14.8% and earnings per diluted share of $1.31 in the third quarter of fiscal 2020, which at the time were the highest sales and earnings of any quarter in the company’s history. For the third quarter of fiscal 2019, earnings per diluted share were $0.30. Fiscal 2021 third quarter guidance reflects anticipated continued impacts related to the widely reported supply chain disruptions and staffing challenges in the retail industry. Additionally, guidance relative to the prior year period reflects the unfavorable impact of the fiscal calendar shift related to our 53-week fiscal 2020, which moved the Fourth of July holiday from the third quarter of fiscal 2020 into the second quarter of fiscal 2021. As a result, the third quarter of fiscal 2021 excludes the historically high-volume Fourth of July holiday week, which is replaced by an historically low-volume week in early October. As a result of this shift, the Company anticipates an approximately $0.20 unfavorable impact to diluted earnings per share for the third quarter. This calendar shift does not impact the Company’s same store sales calculation, which is measured on a comparable-week basis. The Company’s sales and earnings guidance for the fiscal 2021 third quarter assumes that any new conditions relating to the COVID-19 pandemic, including any regulations that may be issued in response to the pandemic, will not materially impact the Company’s operations during the period.
