Hibbett Sporting Goods, Inc. net sales for the nine-week period ended December 31, 2005, increased 11.9% to $90.6 million compared with $81.0 million for the comparable nine-week period ended January 1, 2005. Comparable store sales increased 1.7% for the nine-week period ended December 31, 2005.
Comparable store net sales data reflects sales for Hibbett Sports and Sports Additions stores open through the nine-week periods ended December 31, 2005, and January 1, 2005.
The Company expects to report sales for the fourth quarter on February 2, 2006, and earnings for the fourth quarter and fiscal year ended January 28, 2006, on March 9, 2006. Based on the sales results for the nine-week period ended December 31, 2005, and the Company's merchandise plan for January, the Company confirmed its previously issued earnings guidance of $0.27 to $0.29 per diluted share for the fourth quarter of fiscal 2006.
Commenting on the announcement, Mickey Newsome, Chairman and Chief Executive Officer, stated, “Footwear and apparel were positive while equipment was negative. As planned, our clean inventory position enabled us to reduce our promotional activity and improve our product gross margin. With December comps higher than November and with exciting footwear launches and other new spring merchandise being delivered to our stores, we expect sales momentum to continue building in January.”
