Hibbett Q3 Net Jumps 65% on 6.9% Comp Sales Increase

Hibbett Sporting Goods, Inc. announced net sales for the 13-week period ended November 1, 2003, increased 17.0% to $78.4 million compared with $67.0 million for the 13-week
period ended November 2, 2002. Comparable store sales increased 6.9% in the third quarter of fiscal 2004. Net income for the third fiscal quarter increased 65.0% to $5.4 million compared with $3.3 million in the third fiscal quarter of last year. Earnings per diluted share
increased 61.9% to $0.34 from $0.21 in the prior year.

Net sales for the 39-week period ended November 1, 2003, increased
12.8% to $229.7 million compared with $203.7 million for the 39-week
period ended November 2, 2002. Comparable store sales increased 4.2%
in the first nine months of fiscal 2004. Net income for the first nine
months of fiscal 2004 increased 36.9% to $13.9 million compared with
$10.1 million in the first nine months of fiscal 2003. Diluted
earnings per share increased 34.9% to $0.89 from $0.66 in the prior
year.

Hibbett opened 17 new stores and closed three stores during the
third quarter, bringing the store base to 404 stores, and remains on
schedule to open a total of approximately 55 to 60 new stores, net of
store closings, in fiscal year 2004.

The per share results reported herein reflect the effect of the
three-for-two stock split that was distributed on July 15, 2003, to
stockholders of record on June 27, 2003.

The Company also issued guidance for the fourth quarter ended
January 31, 2004, of earnings per diluted share of approximately $0.33
to $0.35, with a comparable store sales increase in the range of 4% to
5%, bringing fiscal 2004 guidance to $1.22 to $1.24 per diluted share.
The Company reported earnings of $0.28 (adjusted) per diluted share
and a comparable store sales increase of 2.4% in the fourth quarter of
fiscal 2003 and earnings of $0.96 per diluted share for fiscal 2003.

Mickey Newsome, President and Chief Executive Officer, stated, “We
demonstrated solid execution in all facets of our business during the
third quarter. Each product category performed well with comparable
sales up double digits in apparel, mid-single digits in footwear and
positive in equipment. Apparel continues to benefit from licensed and
performance active wear, while footwear continues to be driven by
retro, classic and performance footwear. The equipment category showed
significant improvement year over year as a result of improved buying
and execution.

“With more of our product offerings selling at regular price than
a year ago, we continue to report what we believe are industry-leading
operating margins among publicly held full-line sporting goods
retailers. In two of three quarters this year, we posted an operating
margin in excess of ten percent. We have long stated the benefits of
being a small market and low-cost operator, and our results in the
first nine months of fiscal 2004 prove it again. With strong sales
trends throughout the third quarter and so far in the fourth quarter,
we expect our continued focus on customer service and leveraging of
inventory efficiencies to produce another successful quarter for
Hibbett and our stockholders.”

             HIBBETT SPORTING GOODS, INC. AND SUBSIDIARIES

                  UNAUDITED STATEMENTS OF OPERATIONS
           (Dollars In Thousands, Except Per Share Amounts)

                                 13 Weeks Ended     39 Weeks Ended
                               ------------------  ------------------
                                Nov. 1,   Nov. 2,   Nov. 1,   Nov. 2,
                                 2003      2002      2003      2002
                               --------  --------  --------  --------
Net sales                       $78,418   $67,004  $229,742  $203,714
Cost of goods sold, including
 warehouse, distribution, and
 store occupancy costs           51,971    46,404   156,349   141,014
                               --------  --------  --------  --------
  Gross profit                   26,447    20,600    73,393    62,700
Store operating, selling, and
 administrative expenses         16,194    13,715    46,251    41,452
Depreciation and amortization     1,820     1,733     5,370     5,113
                               --------  --------  --------  --------
  Operating income                8,433     5,152    21,772    16,135
Interest (income) expense, net      (33)       21       (75)      172
                               --------  --------  --------  --------
  Income before provision for
   income taxes                   8,466     5,131    21,847    15,963
Provision for income taxes        3,090     1,873     7,974     5,827
                               --------  --------  --------  --------
  Net income                     $5,376    $3,258   $13,873   $10,136
                               ========  ========  ========  ========

Net Income per common share:
  Basic earnings per share        $0.35     $0.22     $0.91     $0.67
                               ========  ========  ========  ========
  Diluted earnings per share      $0.34     $0.21     $0.89     $0.66