Sports profit

Hibbett Sports profit exceeds estimates, but sales are slightly lower

Hibbett Sports Inc.
said on Friday it had net income of $ 23.9 million, or $ 1.39 per share, in its fiscal fourth quarter as of Jan. 30, from $ 6.0 million, or 34 cents per share , during the period of the previous year. Adjusted earnings per share came in at $ 1.40, ahead of the FactSet consensus of $ 1.37. The sports 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 increased 21.9%, with physical same-store sales up 17.7%. E-commerce comparable sales increased 44.78% to represent 17.1% of overall sales. “The strong momentum we experienced in our business in the second and third quarters continued into the fourth quarter,” Chief Executive Officer Mike Longo said in a statement. Looking ahead, Hibbett expects to continue to attract customers to its omnichannel platform and take advantage of growing pent-up demand during the pandemic and government stimulus payments. He expects EPS for fiscal 2021 to be between $ 5.00 and $ 5.50, against a current FactSet consensus of $ 5.10. The stocks were not yet active before marketing, but have gained 222% in the past 12 months, while the S&P 500 spx
won 20%.