Entering text into the input field will update the search result below

Hibbett Sports Earnings Decline From A Year Ago

Mar. 14, 2014 11:17 AM ETHIBB
adspatz profile picture
adspatz's Blog
10 Followers
Please Note: Blog posts are not selected, edited or screened by Seeking Alpha editors.

Originally published at www.seclive.com

Hibbett Sports, Inc. (HIBB) announced its fiscal fourth quarter financial results for the 2013 fiscal year, posting earnings that declined from a year ago. The sporting goods retailer reported sales that increased to $217.8M while same-store sales rose 1.7%, favorably impacted by the holiday season. Earnings fell from $19.4M and $0.73 per share a year ago to $16.9M and $0.64 per share, missing analyst expectations of $0.70 per share. Hibbett projects it will open 75 to 80 new stores with same-store sales rising in the single-digits. The company's gross margin tightened from 36.1% to 35.8% while its operating, selling, and administrative costs increased 7%. CEO Jeff Rosenthal remarked that the company is pleased with its sales during the holiday season, despite adverse weather conditions and less than projected sales from the NCAA national championship game between Florida State University and Auburn University.

Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.

Seeking Alpha's Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.

Recommended For You