Hibbett Sporting Goods, Inc. reported that total net sales for the fourth quarter ended January 28 increased 12.8% to $120.8 million, a new company record, compared with net sales of $107.1 million for the year-ago period. Comparable store sales for the fourth quarter increased 2.5% over the prior-year period.
Comparable store net sales data reflects sales for Hibbett Sports and Sports Additions stores open through the 13-week periods ended January 28, 2006 and January 29, 2005.
For the 52-week fiscal year ended January 28, net sales increased 16.6% to $440.3 million, also a new company record, compared with $377.5 million for the prior year. Comparable store sales for the year increased 5.6% over the prior-year period.
For the quarter, HIBB opened a net of 23 new stores. For the year, the company opened a net of 67 new stores, bringing the total to 549 stores in 22 states. Hibbett expects to open a net of approximately 80 to 85 new stores in fiscal 2007.
Commenting on the announcement, Mickey Newsome, chairman and CEO, stated, “Hibbett continued the positive comparable store sales momentum through January that we have exhibited throughout the year. Equipment, footwear and apparel were all positive. We are pleased that our inventory management efforts continue to yield positive results, including faster turns and margin expansion.”
