Hibbett Q3 Sales and Net Both Up Double-Digits

Hibbett Sporting Goods, Inc. saw net sales for the third quarter jump 17.2% to $129.7 million from $110.6 million last year. Comparable store sales increased 7.1% in the third quarter of fiscal 2007. Net income for the quarter increased 21.5% to $9.9 million compared with $8.2 million in the third fiscal quarter of last year. Earnings per diluted share were 31 cents compared with 24 cents per diluted share in the prior year.

Net sales for the 39-week period ended October 28, 2006, increased 13.0% to $360.9 million compared with $319.4 million for the 39-week period ended October 29, 2005. Comparable store sales increased 2.8% in the first nine months of fiscal 2007. Net income for the first nine months of fiscal 2007 increased 7.3% to $25.5 million compared with $23.7 million in the first nine months of fiscal 2006. Earnings per diluted share were 78 cents compared with 68 cents per diluted share in the prior year.

Mickey Newsome, Chairman and Chief Executive Officer, stated, “We are pleased with the successful execution of our business plan in the third quarter that allowed us to exceed very strong post-hurricane comp store sales from a year ago. All three months in the third quarter posted positive same-store sales, plus we experienced over 10% comp growth in the non-Katrina affected stores for September and October. Youth footwear, men's activewear and team sports equipment led the way with double-digit sales increases.”

Hibbett opened 20 new stores and closed two stores during the third quarter, bringing the store base to 590 stores. For the fourth quarter, the company expects to open approximately 25 stores while closing one store, for a total of 74 stores opened and nine stores closed in fiscal 2007 and bringing the store base to 614 stores for fiscal 2007.

Fiscal 2007 Outlook

For the 14-week period ending February 3, 2007, the company expects to report earnings per diluted share of approximately 34 cents to 38 cents (which includes approximately 2 cents of equity award expense per diluted share) and a comparable store sales increase of 3% to 5%. Guidance for the 53-week fiscal 2007 was increased to approximately $1.12 to $1.16 per diluted share (which includes 6 cents to 7 cents of equity award expense per diluted share) and a comparable store sales increase in the 3% to 5% range.

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


                        Thirteen Weeks Ended   Thirty-Nine Weeks Ended
                       ----------------------- -----------------------
                       October 28, October 29, October 28, October 29,
                          2006        2005        2006        2005
                       ----------- ----------- ----------- -----------
Net sales                $129,658    $110,594    $360,935    $319,442
Cost of goods sold,
 including
 distribution center
 and store occupancy
 costs                     86,592      73,485     241,037     213,212
  Gross profit             43,066      37,109     119,898     106,230
Store operating,
 selling, and
 administrative
 expenses                  24,757      21,876      71,584      62,003
Depreciation and
 amortization               2,697       2,570       8,152       7,518
                       ----------- ----------- ----------- -----------
  Operating income         15,612      12,663      40,162      36,709
Interest income, net          235         281         667         896
                       ----------- ----------- ----------- -----------
  Income before
   provision for
   income taxes            15,847      12,944      40,829      37,605
Provision for income
 taxes                      5,921       4,776      15,360      13,876
                       ----------- ----------- ----------- -----------
  Net income               $9,926      $8,168     $25,469     $23,729
                       =========== =========== =========== ===========
Net Income per common
 share:
  Basic earnings per
   share                    $0.31       $0.24       $0.79       $0.70
                       =========== =========== =========== ===========
  Diluted earnings per
   share                    $0.31       $0.24       $0.78       $0.68
                       =========== =========== =========== ===========
Weighted average
 shares outstanding:
  Basic                    31,982      33,441      32,222      33,870
                       =========== =========== =========== ===========
  Diluted                  32,440      34,102      32,742      34,665
                       =========== =========== =========== ===========