APPOINTS LILY W. CHANGE TO HIS BOARD OF DIRECTORS
EL SEGUNDO, California, October 8, 2021 – Big 5 Sporting Goods Corporation (NASDAQ: BGFV) (the “Company”), a leading sporting goods retailer, is pleased to announce the appointment of Lily W. Chang to its board of directors effective October 7, 2021. Ms. Chang has an extensive track record of successfully working with companies to improve financial and operational performance in a variety of consumer-facing industries.
Steven G. Miller, Chairman, President and Chief Executive Officer of the company, commented, “Lily brings a wealth of experience and knowledge from working with many leading retail and consumer goods companies. Her operational focus and expertise will make her a valuable prospect Skills for our board of directors. We are very excited to have Lily join us and look forward to her contributions. ”
Ms. Chang is currently the Chief Portfolio Services Officer of Leonard Green & Partners (“LGP”), which she joined in 2004. In her role at LGP, she leads working with portfolio companies across a wide range of industries including retail and consumer services. In addition, she has been a member of the Board of Directors of JOANN Stores, a listed specialist retailer for fabrics and handicrafts, since 2018. Prior to joining LGP, Ms. Chang worked in strategy and planning roles at Nissan North America and Nissan Motor Acceptance Corporation, was a partner in the eCompanies Venture Group, and held finance and management positions at The Walt Disney Company and Procter & Gamble. Ms. Chang holds a Bachelor of Arts in Quantitative Economics from Stanford University and an MBA with honors from Harvard Business School.
In addition, the company announced today that Sandra N. Bane has notified the company that she intends to step down from the company’s board of directors effective November 15, 2021. Mr. Miller said, “Sandy has been a valued member of our board since the company’s IPO in 2002. I would like to thank her for her excellent service and her many contributions to our board of directors and our company. She has made a significant contribution to the growth and success of the Big 5 and we wish her all the best. ”
About Big 5 Sporting Goods Corporation
Big 5 is a leading sporting goods retailer in the western United States and operated 429 stores under the name “Big 5 Sporting Goods” for the fiscal quarter ended October 3, 2021. Goods store format that averages 11,000 square meters. The Big 5 product mix includes sports shoes, clothing and accessories as well as a wide selection of outdoor and sports equipment for team sports, fitness, camping, hunting, fishing, home recreation, tennis, golf, and winter and summer recreation.
Except for the historical information contained herein, the statements in this press release are forward-looking and made under the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements involve known and unknown risks and uncertainties as well as other factors that could cause the actual results of the Big 5 in current or future periods to differ materially from projected results. These risks and uncertainties include, but are not limited to, the economic impact of COVID-19, including all possible variations, on the operations of the Big 5, including due to regulations that may be enacted in response to COVID-19, changes in the consumer spending environment, fluctuations in consumer vacation spending, increased competition from e-commerce retailers, breach of data security or other unauthorized disclosure of sensitive personal or confidential information, the competitive landscape in the sporting goods industry in general and in the specific market areas of the Big 5, inflation, product availability and growth opportunities, Changes in the current market for (or regulation of) weapons-related products, reduction or loss of products from a major supplier, interruption of the flow of products, seasonal fluctuations, weather conditions, changes in the cost of goods, fluctuations in loading operating costs, increases in labor and performance-related expenses, changes in laws or regulations, including those related to tariffs and tariffs, public health problems (including those caused by COVID-19 or possible variants), effects of civil unrest or far widespread vandalism, lower than expected profitability of the Big 5 e-commerce platform or cannibalization of the sales of the Big 5 existing business base that could result from the operation of the e-commerce platform, litigation risks, shareholder campaigns and proxy competitions, related risks with the Big 5’s historical leveraged financial condition, interest rate changes, credit availability, increased spending related to sources of credit due to uncertainty in the financial markets and the general economic climate. These and other risks and uncertainties are further described in Big 5’s filings with the Securities and Exchange Commission, including its Annual Reports on Form 10-K and Quarterly Reports on Form 10-Q. Big 5 operates in a highly competitive and rapidly changing environment. Accordingly, new risk factors can arise. It is impossible for management to predict all of these risk factors, nor to assess the impact of all of these risk factors on the Big 5’s business or the extent to which any one or combination of risk factors could cause results to differ materially included in every forward-looking statement. Big 5 assumes no obligation to revise or update any forward-looking statements made from time to time by or on behalf of Big 5.
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Disclaimer of liability
Big 5 Sporting Goods Corporation published this content on October 08, 2021 and is solely responsible for the information contained therein. Distributed by public, unedited and unchanged, on October 08, 2021 17:41:09 UTC.
Publicnow 2021
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Technical Analysis Trends BIG 5 SPORTING GOODS CORPORATION
| In the short term | Halftime | Long term | |
| Trends | Bearish | Neutral | Bullish |
Development of the income statement
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Sell
Obtain |
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| Medium consensus | TO BUY |
| Number of analysts | 1 |
| Last closing price |
$ 24.72 |
| Average target price |
$ 31.00 |
| Spread / Average Target | 25.4% |
