Hibbett Sporting Goods, Inc. reported that net sales for the 13-week period ended January 29, 2005, increased 17.5% to $107.2 million, the first time HIBB has reported quarterly sales over the $100 million mark. The company reported sales of $91.2 million for the 13-week period ended January 31, 2004. Comparable store sales for the fourth quarter increased 5.2% over the prior-year period.
Comparable store net sales data reflects sales for our Hibbett Sports and Sports Additions stores open through the 13-week periods ended January 29, 2005, and January 31, 2004.
For the 52-week fiscal year ended January 29, 2005, net sales increased 17.7% to $377.6 million, a new Company record, compared with $321.0 million for the 52-week period ended January 31, 2004. Comparable store sales for the year increased 5.7% over the prior-year period.
For the quarter, the Company opened a net of 14 new stores. For the year, the Company opened a net of 54 new stores, bringing the total to 482 stores in 22 states. Hibbett expects to open a net of approximately 70 new stores in fiscal 2006.
Commenting on the announcement, Mickey Newsome, President and Chief Executive Officer, stated, “We are very pleased with our sales trends for January as we posted a six percent increase for the month on top of a 14% increase a year ago. The merchandise plan was based on continuing the momentum established earlier in the quarter in footwear, positioning our equipment category for the all-important spring selling season and continuing to shift the mix in apparel from licensed to branded.”
