Hibbett Sporting Goods, Inc. saw net sales for the 14-week fourth quarter ended February 3, 2007, increase 25.1% to $151.2 million from $120.8 million for the 13-week period last year. Comparable store sales increased 5.9% for the comparable 13-week period.
For the 53-week fiscal year ended February 3, 2007, net sales increased 16.3% to $512.1 million, compared with $440.3 million for the 52-week period ended January 28, 2006. Comparable store sales for the year increased 3.8% for the comparable 52-week period of fiscal 2007.
Comparable store net sales data reflects sales for our Hibbett Sports and Sports Additions stores open through the 13-week and 52-week periods ended January 27, 2007, and the 13-week and 52-week periods ended January 28, 2006.
Commenting on the announcement, Mickey Newsome, Chairman and Chief Executive Officer, stated, “Our comparable store sales were very strong in the second half of the year with a 6.6% increase. In the fourth quarter, activewear, licensed apparel, footwear and team sports equipment were all positive. Comparable store sales were led by youth apparel and youth footwear.”
For the quarter, the company opened 25 new stores and closed 2 stores. For the year, the company opened 74 new stores and closed 10 stores, bringing the total to 613 stores in 23 states.
