Hibbett Sports profit beats estimates but sales fall slightly short

Hibbett Sports Inc.
said Friday it had net income of $23.9 million, or $1.39 a share, in its fiscal fourth quarter to Jan. 30, up from $6.0 million, or 34 cents a share, in the year-earlier period. Adjusted per-share earnings came to $1.40, ahead of the $1.37 FactSet consensus. The sporting fashion retailer said sales rose 20.4% to $376.8 million from $313.0 million, just below the FactSet consensus of $381 million. Comparable sales rose 21.9%, with brick and mortar same-store sales up 17.7%. E-commerce comparable sales rose 44.78% to account for 17.1?% of overall sales. “The strong momentum that we experienced in our business in the second and third quarters continued in the fourth quarter,” Chief Executive Mike Longo said in a statement. Looking ahead, Hibbett is expecting to continue to attract customers to its omni-channel platform and to take advantage of pent-up demand growing during the pandemic, and of government stimulus payments. It expects fiscal 2021 EPS to range from $5.00 to $5.50, compared with a current FactSet consensus of $5.10. Shares were not yet active premarket, but have gained 222% in the last 12 months, while the S&P 500
has gained 20%.

Source link

Leave a Reply

Your email address will not be published. Required fields are marked *