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The Company is a sporting goods retailer, which provides a full line of products that includes athletic shoes, apparel and accessories, and outdoor and athletic equipment for sports.
Of course, that is according to the report prepared by management, who “lacked the necessary depth of personnel with adequate technical accounting expertise to ensure the preparation of interim and annual financial statements in accordance with GAAP,” according to the company’s former auditors. So I’ll take it with a grain of salt. Meanwhile, the company is working on the issue but warns it will cost:http://stockmarketbeat.com/blog1/2007/08/02/bgfv-big-five-guides-lower-but-more-accurately/
You still bearish on BGFV? I wanted to give it a thumbs up, but staying far away, if they are not filing in accordance with GAAP.
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