Things are getting tough for athletic- and sporting-goods sellers.
Hibbett CEO Jeff Rosenthal said he was pleased with the results & the firm’s progress on several initiatives.
Hibbet’s Q1 earnings topped expectations while revenues fell short of forecasts.
Q4 sales increased 2.7 percent to $245.7 million; profit declined 12.6 percent to $17.4 million.
The stock climbed over 20 percent after Hibbett Sports posted 18 percent EPS growth & a 5 percent rise in net sales.
Sterne Agee CRT analyst Sam Poser suggests Hibbett’s lack of an e-commerce presence is hurting the retailer most.
Several shoe players outperformed in Q2, but a handful of firms felt the impact of macroeconomic and internal pressures.
Hibbett CEO Jeff Rosenthal said that while the firm accounted for a shift in tax-free weekends this year, comp and profits declines were unexpected.
Hibbett Sports Inc.’s stocks were up after the bell this morning following a strong finish and beat on Wall Street in Q4 ended Jan. 31, 2015.