Hibbett Sporting Goods, Inc. announced that net sales for the nine-week period ended January 4, 2003, increased 10.9% to $58.0 million compared with $52.3 million for the comparable nine-week period ended January 5, 2002.
Comparable store sales increased 1.5% for the nine-week period ended January 4, 2003.
The Company expects to report sales for the fourth quarter in mid-February and earnings for the fourth quarter and fiscal year ending February 1, 2003, in mid-March 2003.
Commenting on the announcement, Mickey Newsome, President and Chief Executive Officer, stated, “Despite the difficult holiday sales environment, we are pleased with our November and December sales performance. The footwear and apparel segments continued to post strong sales with particularly positive contributions from basketball and classic-oriented footwear as well as college and pro licensed apparel. This positive momentum was somewhat offset by the continued softness in the equipment category and tougher year over year comparisons. We remain optimistic about the retail environment for the remaining four weeks of the quarter, and we will continue to closely monitor trends to take advantage of opportunities to drive sales.”
