In a preliminary sales report, Hibbett Sporting Goods saw strong top-line results for the second quarter for fiscal 2007, but now expects to report net income per diluted share of 12 cents to 13 cents versus the previous guidance for the second quarter of 14 cents to 16 cents per diluted share, including equity award expenses.
Net sales for the second quarter of fiscal 2007 increased 11.0% to $104.4 million from $94.0 million last year. Much of the top-line growth was due to the 12 new stores opened during the second quarter, bringing the chain to 572 stores. On a comparable store basis, sales increased 0.6%.
Net sales for the first half of fiscal 2007 increased 10.7% to $231.3 million compared to $208.8 million last year.
Comparable store sales inched up 0.4% in the first half of fiscal 2007.
