More on Hibbett Sports' Q1

• Hibbett Sports (NASDAQ:NASDAQ:HIBB) reports comparable-store sales fell 0.9% in Q1.
• Gross profit rate declined 50 bps to 37%.
• Store operating, selling, and administrative expenses rate grew 50 bps to 19.2%.
• Operating margin rate -121 bps to 16.23%.
• Inventory +13.1% Y/Y to $233.36M.
• Store count +62 Y/Y to 1,001.
• FY2016 Guidance:Comparable-store sales: low single-digit range; Product gross margin rate: flat to slightly negative; Diluted EPS: $2.95 to $3.04.
• HIBB -1.70% premarket.