Q4 Profit Surges at Hibbett

Fourth-quarter earnings per share rose by more than a third at Hibbett Sports Inc.

For the period ended Jan. 28, the Birmingham, Ala.-based sporting goods retailer earned a net income of $15.8 million, a 26.4 percent increase from $12.5 million a year ago. EPS was 59 cents, a 34.1 percent increase over 44 cents.

Revenue advanced 10.1 percent to $190.7 million on the back of a comparable-store sales increase of 7.2 percent.

For the full year, net income surged to $59.1 million, or $2.15 a share, from $46.4 million, or $1.60. Net sales improved 10.2 percent to $732.6 million.

Jeff Rosenthal, Hibbett’s president and CEO, said in a statement that the firm’s performance was thanks to “sustained margin expansion and exceptional cost management.”

Gross margin expanded 120 basis points in the year.

Looking ahead, the firm expects full-year 2012 EPS to come in between $2.35 and $2.55, with comp sales slated to increase in the low- to mid-single-digit range.

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