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.
What you need to know ahead of Q2 earnings releases from Dick’s Sporting Goods, Foot Locker and Hibbett.
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.