Hibbett Sports Q4 profit soars 55%, beats Street
Birmingham, Ala. Hibbett Sports said Friday that its fiscal fourth-quarter profit surged 55%. During the quarter, Hibbett earned $11.8 million, compared with $7.6 million during the same period a year earlier.
Revenue for the period ended Jan. 30 grew 13% to $166.8 million, from $147.9 million, aided by strong sales of University of Alabama and New Orleans Saints merchandise, which both won championships this season.
Wall Street expected revenue of $154.7 million.
Same-store sales rose 9.6% in the quarter.
Full-year earnings climbed 11% to $32.5 million. Sales increased 5% to $593.5 million.
Same-store sales edged up 0.7%.