Mike Longo will continue as Hibbett’s President and CEO, and Jared Briskin will take on the role of Hibbett COO. Hibbett will maintain HQ in Birmingham, AL.
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Hibbett, Inc. Sees Q4 Net Income Decline as Comp Sales Fall 6.4 Percent
Brick-and-mortar comparable sales declined 9.2 percent, while e-commerce increased 6.9 percent on a year-over-year basis, excluding the impact of the 14th week. E-commerce represented 18.9 percent of total net sales for the Fiscal 2024 Q4 period.
Hibbett Inc. and Nike Launch 2023 Sole School Program
Hibbett | City Gear, in partnership with Nike, awarded 103 high schools and more than 2,500 students nationwide with in-kind donations, products, mentoring, and job opportunities, valued at over $650,000.
EXEC: Wall Street Reacts to Strong Q3 for Dick’s and Hibbett
The third-quarter earnings beats and raised guidance for both Dick’s Sporting Goods and Hibbett increased investor confidence that the athletic retail space is positioned to at least outperform the broader retail sector in a challenging marketplace, although some analysts were concerned about margin pressures at Dick’s.
EXEC: Hibbett Gets Q3 BTS Footwear LIft as Nike Loyalty Partnership Starts to Bear Fruit
Men’s and kids were reportedly both down in low-single-digits, driven by a low-teens decrease in Apparel. Footwear results in both men’s and kids were said to be up in low-single-digits. The Women’s business was up in mid-single-digits, driven by a mid-teens increase in Footwear offset by weak Apparel results.
Hibbett Sports Shares Jump in Early Trading as Retailer Raises Guidance
Fiscal third quarter net sales decreased 0.3 percent to $431.9 million, compared with $433.2 million for the corresponding period in 2022. Comparable sales decreased 2.7 percent year-over-year. HIBB shares were up nearly 17 percent in pre-market trading
Nike Launches Connected Partnership Program with Hibbett Sports
Nike added Hibbett, Inc. as the latest partner for its Connected Partnership loyalty program, enabling its customers to access Nike member products and services.
EXEC: Hibbett Shares Jump on Q2 Beat, Reiterated Guidance
Shares of Hibbett, Inc. surged 22.2 percent, to $45.03 on Friday after Q2 sales arrived in line with guidance due to a strong start to back-to-school selling and as strength in some better footwear brands offset weakness in secondary brands and franchises.
Hibbett’s Q2 Profits Tumble Year-Over-Year, Top Wall Street’s Targets
Hibbett, Inc.’s second-quarter profits fell 55.9 percent but still topped analyst targets with some strength in footwear offsetting apparel weakness. The sporting goods chain reiterated its full-year outlook, bucking a trend that saw competitors, Dick’s Sporting Goods and Foot Locker, lower guidance this week.
Report: Traffic Report Sees Dick’s and Hibbett Well-Positioned for BTS
With Dick’s Sporting Goods releasing second quarter earnings next week and Hibbett Sports usually close behind in timing of its release, a new report from Placer.ai looks to be rather timely.
Former Hibbett CFO Lands at Leslie’s Inc. with TNF Veteran CEO
Leslie’s, Inc. appointed former Hibbett Sports CFO Scott Bowman as CFO, effective August 7. Bowman joins the company on July 17 and will serve as CFO designate through August 6.
EXEC: Hibbett Warns On Sales Weakness, Markdown Pressures
Shares of Hibbett Inc. are down about 10 percent in mid-day trading Friday after the retailer reduced its full-year guidance as first-quarter sales missed plan and sales weakness continued into May. Promotions are expected at least through the third quarter to rebalance inventories.
Hibbett Reduces Full-Year Guidance On Q1 Miss
Hibbett, Inc. reported weaker-than-expected fiscal first-quarter earnings and narrowed its full-year guidance to reflect a more cautious consumer outlook. Mike Longo, President and Chief Executive Officer, “”Our consumers are facing a number of headwinds that range from inflation to concerns over outright job loss.”
EXEC: Hibbett Posts Double-Digit Q4 Comp Growth; EPS Falls Just Short Of Guidance
Hibbett, Inc. reported comp-store sales increased 15.5 percent versus the prior-year period and increased 39.6 percent compared to the 13 weeks ended February 1, 2020. Earnings for the quarter and guidance for the current year slightly trailed Wall Street’s targets. CEO Mike Longo told analysts, “These results came from strong demand for our popular footwear brands and a recovery in inventory levels.”
Hibbett Rolls Out Returns Service
Hibbett, Inc. added Happy Returns’ Return Bars in its more than 1,100 Hibbett and City Gear specialty stores nationwide. Through the service, customers can make returns from hundreds of online retailers at Hibbett and City Gear stores in 36 states.
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