Hibbett Fourth Quarter Income Jumps 21.7%; Comps Climb 2.5%

Hibbett Sporting Goods, Inc. net sales for the fourth quarter increased 12.8% to $120.8 million compared with $107.1 million last year. Comparable store sales increased 2.5% in the fourth quarter of fiscal 2006. Net income for the fourth fiscal quarter increased 21.7% to $9.9 million compared with $8.1 million in the fourth fiscal quarter of last year. Earnings per diluted share increased 26.1% to $0.29 compared with $0.23 per diluted share in the prior year.

Net sales for the 52-week period ended January 28, 2006, increased 16.6% to $440.3 million compared with $377.5 million for the 52-week period ended January 29, 2005. Comparable store sales increased 5.6% in fiscal 2006. Net income for fiscal 2006 increased 33.7% to $33.6 million compared with $25.1 million in fiscal 2005. Earnings per diluted share increased 40.0% to $0.98 from $0.70 per diluted share in the prior year.

Comparable store net sales data reflects sales for our Hibbett Sports and Sports Additions stores open through the 13-week and 52-week periods and the corresponding periods of the prior fiscal year.

The per share results reported for all periods presented herein reflect the effect of the three-for-two stock split that was distributed on September 27, 2005, to stockholders of record on September 9, 2005.

Hibbett opened a net of 23 new stores during the fourth quarter for a total of 67 net new stores in fiscal 2006, bringing the store base to 549 in 22 states as of January 28, 2006. The Company plans to open a net of approximately 80 to 85 new stores in fiscal 2007, including a net of approximately 10 to 15 stores in the first quarter.

Mickey Newsome, Chairman and Chief Executive Officer, stated, “Fiscal 2006 was our best year ever with a 40.0% increase in earnings per diluted share, a 5.6% comparable store sales increase and an operating margin that reached 11.8%.

“Despite a tough comparison to last year's fourth quarter, we were able to reach the top end of our quarterly earnings guidance. Our comparable store sales increase primarily came from footwear and activewear. Stronger-than-planned product margin was the primary driver behind achieving the 26.1% earnings per diluted share increase in the fourth quarter.”

For the first quarter ending April 29, 2006, the Company expects to report earnings per diluted share of approximately $0.32 to $0.35 (which includes $0.02 to $0.03 of equity award expense per diluted share) and a comparable store sales increase of 2.0% to 4.0%. Guidance for the 53-week period ending February 3, 2007, is estimated at approximately $1.04 to $1.08 per diluted share (which includes $0.10 to $0.13 of equity award expense per diluted share) and a comparable store sales increase in the 3.0% to 4.0% range.

The earnings per diluted share outlook includes the effect of the Company's adoption of SFAS 123R as of January 29, 2006. During Fiscal 2007, the Company expects to incur $4.1 to $4.4 million of equity award expense on a pre-tax basis.

             HIBBETT SPORTING GOODS, INC. AND SUBSIDIARIES
       Unaudited Condensed Consolidated Statements of Operations
           (Dollars in thousands, except per share amounts)

                               13 Weeks Ended        52 Weeks Ended  
                            -------------------   -------------------
                            Jan. 28,   Jan. 29,   Jan. 28,   Jan. 29,
                              2006       2005       2006       2005
                            --------   --------   --------   --------
Net sales                   $120,827   $107,081   $440,269   $377,534 
Cost of goods sold,         
 including warehouse,       
 distribution, and store
 occupancy costs              80,156     72,110    293,368    255,250
                            --------   --------   --------   --------
  Gross profit                40,671     34,971    146,901    122,284
Store operating, selling, 
 and administrative 
 expenses                     23,057     19,795     85,060     72,923
Depreciation and            
 amortization                  2,601      2,563     10,119      9,939
                            --------   --------   --------   --------
  Operating income            15,013     12,613     51,722     39,422
Interest income, net            (250)      (166)    (1,146)      (425)
                            --------   --------   --------   --------
  Income before             
   provision for income     
   taxes                      15,263     12,779     52,868     39,897
Provision for income taxes     5,368      4,649     19,244     14,750
                            --------   --------   --------   --------
  Net income                  $9,895     $8,130    $33,624    $25,147
                            ========   ========   ========   ========
Net Income per common share:                     
  Basic earnings per share     $0.30      $0.24      $1.00      $0.72
                            ========   ========   ========   ========
  Diluted earnings per      
   share                       $0.29      $0.23      $0.98      $0.70
                            ========   ========   ========   ========
Weighted average shares     
 outstanding:               
  Basic                       32,812     34,297     33,606     34,856
                            ========   ========   ========   ========
  Diluted                     33,578     35,027     34,393     35,690
                            ========   ========   ========   ========