Hibbett’s Q4 profit surges
Hibbett Sports (Nasdaq: HIBB) said its fiscal fourth-quarter profit received a 55-percent bump as sales improved on the strength of University of Alabama and New Orleans Saints merchandise.
During the quarter ended Jan. 30, Hibbett earned $11.8 million, or $0.40 per share, compared with $7.6 million, or $0.26 per share, during the same period a year earlier.
Revenue grew 13 percent to $166.8 million from $147.9 million, helped by sales of University of Alabama and New Orleans Saints merchandise, which both won championships this season. Sales at stores open at least a year rose 9.6 percent in the quarter.
Full-year earnings climbed 11 percent to $32.5 million, or $1.12 per share, from $29.4 million, or $1.02 per share. Sales increased 5 percent to $593.5 million from $564.2 million. Sales at stores open at least a year edged up 0.7 percent.
Hibbett anticipates fiscal 2011 profit between $1.12 and $1.30 per share, with same-store sales up 1 percent to 4 percent.
Winmark CEO’s pay up 11 percent in 2009
Winmark Corp. (Nasdaq: WINA), parent company of Play It Again Sports, reported in a filing with the SEC that CEO John Morgan voluntarily reduced his salary during a five-month period in 2009, but his total compensation still increased about 11 percent last year.
According to the company’s proxy filed with the SEC, Morgan’s salary in 2009 was $200,833, down from $236,000 a year earlier. His bonus increased last year, though, from $125,000 last year to $200,000 this year. His total compensation for the year was $409,244, up from $368,961 in 2008
Morgan’s bonus is determined at the discretion of the board’s Compensation Committee, according to the proxy.
All other compensation for Morgan last year totaled $8,411, compared to $7,961 for all other compensation in 2008.
--Compiled by Wendy Geister
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