Hibbett Sporting Goods, Inc. reported net sales for the 13-week period ended January 31, 2004 increased 20.8% to $91.2 million, a new Company record, compared with $75.5 million for the 13-week period ended February 1, 2003. Comparable store sales for the fourth quarter increased 8.3% over the prior-year period.
For the 52-week fiscal year ended January 31, 2004, net sales increased 15.0% to $321.0 million, a new Company record, compared with $279.2 million for the 52-week period ended February 1, 2003. Comparable store sales for the year increased 5.3% over the prior-year period.
For the quarter, the Company opened 24 new stores. For the year, the Company opened 57 net new stores, bringing the total to 428 stores in 21 states. Hibbett expects to open approximately 65 net new stores in fiscal 2005.
Commenting on the announcement, Mickey Newsome, President and Chief Executive Officer, stated, “One of the best Januarys in the last five years contributed to a strong finish for the year and new quarterly and annual sales records. Apparel, led by licensed products, posted a double-digit comparable sales increase. Footwear, driven by ladies, was up mid-single digits. We are very pleased with this outstanding performance and are comfortable with the current published range of First Call earnings per share estimates for the fourth quarter.”
