Fitness financials: Hibbett’s Q4 profit surges, plus Winmark

Hibbett Sports said its fourth-quarter profit surged 55 percent on strong sales of University of Alabama and New Orleans Saints merchandise, and Winmark reported that CEO John Morgan's total compensation increased about 11 percent last year.
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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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