MSN analysts have upgraded Hibbett to 'outperform' based on improving sales records
Hibbett is providing sports gear for local youth teams, in an effort to strengthen its already strong image in the eyes of the communities in which they operate
Alabama Governor Bob Riley declared September 29 Hibbett Sports Day in Alabama in recognition of the Alabama-based company's growth, success, and valuable contributions to the state community
Hibbett Sports has managed to keep growing during the U.S. recession (which has forced many related companies to call it quits) by targeting small markets with merchandise not found elsewhere.
Cabela's Inc., one of JP Morgan's stocks, was given a downgrade in an announcement from JP Morgan, which is bad news for Cabela and its competitiors in the Sporting Goods Industry, which includes Hibbett
Hibbert released 10-Q data for the quarter ending August 1, 2009, with its shares being traded at around $17.6 at the end of the period in question.
Hibbett Sports reported that in Q2 fiscal 2010 sales fell 5.5% to $123.1 million, with same-store sales falling 10.5%
Net sales rose 8% to $157.7 million, on par with Wall Street expectations. The company said its second quarter would be affected by the absence of stimulus checks and the transition of tax breaks into the third quarter.
Hibbett reported 4th quarter profits rose to $7.6 million, up from $7.61 million a year ago. Revenue was up 4%.
HIBB's revenue during Q3 2009 increased 8.1% following a net 14 increase in store openings and a 0.4% increase in comparable store sales. However, the company's operating margin decreased to 8.59% from 9.68% from a year earlier. As a result, the company's net income decreased 2.09% during the quarter.
On 9/3 the company announced the departure of president and COO Nissan Joseph.
For the quarter ending 5/3/08, HIBB reported seals rose 8.95% year over year. The market received the news well, with HIBB rising 15% on the day.
Hibbett Sports issued 2008 guidance below Wall Street expectations amid a difficult retail environment that has been impacted by a declining U.S. economy. The company expects a profit between 88 cents to $1 per share for the year ending Jan. 31, 2009. Analysts polled by Thomson Financial expect a profit of $1.08 per share for the year.
