EXHIBIT 10.27

                   MODIFICATION AND REAFFIRMATION OF GUARANTY

      The undersigned, BIG 5 SPORTING GOODS CORPORATION, a Delaware corporation
("Guarantor"), has previously executed that certain Guaranty, dated March 8,
1996 (as amended, the "Guaranty"), in favor of THE CIT GROUP/BUSINESS CREDIT,
INC., a New York corporation ("CITBC"), respecting the obligations of Big 5
Corp., a Delaware corporation ("Debtor"), arising under that certain Financing
Agreement, dated March 8, 1996 (the "Prior Financing Agreement"). Guarantor
hereby acknowledges the terms and provisions of that certain Amended and
Restated Financing Agreement, dated as of even date herewith (the "Amended
Agreement"), by and among Debtor, on the one hand, and CITBC, as agent and
lender, and certain other lenders a party thereto, on the other hand, which such
agreement amends and restates the Prior Financing Agreement.

      In connection with the forgoing, Guarantor hereby reaffirms and agrees
that: (i) the Guaranty remains in full force and effect; (ii) nothing in such
Guaranty obligates CITBC or Lenders (as such term is defined in the Amended
Agreement) to notify the Guarantor of any changes in the financial
accommodations made available to Debtor or to seek reaffirmations of the
Guaranty; and (iii) no requirement to so notify the undersigned or to seek
reaffirmations in the future shall be implied by the execution of this
reaffirmation. Without limiting the forgoing, the undersigned hereby
acknowledges, accepts and agrees that (a) the term, the "Agreement", as used in
the Guaranty shall hereinafter mean the Amended Agreement, as amended,
supplemented, and modified, from time to time; and (b) the term, "Anniversary
Date", as used in the Guaranty shall hereinafter mean the date three (3) years
from the date hereof and the same date in every year thereafter.

Dated as of March 20, 2003

                                           BIG 5 SPORTING GOODS CORPORATION,
                                           a Delaware corporation


                                           By:  /s/ Charles P. Kirk
                                               ---------------------------------
                                           Name:  Charles P. Kirk
                                                 -------------------------------
                                           Title: Senior Vice President and
                                                  Chief Financial Officer
                                                  ------------------------------

Accepted by:

THE CIT GROUP/BUSINESS CREDIT, INC.,
a New York corporation


By:  /s/ Thomas A. Hopkins
    --------------------------------
Name:  Thomas A. Hopkins
      ------------------------------
Title: Vice President
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