Hibbett Sports 2Q same-store sales rise 4.8 percent, raises guidance

Hibbett Sports continued to shine, reporting higher same-store sales for the second quarter 2012. Officials also raised the company’s guidance for the full year 2012.
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Hibbett Sports continued to shine, reporting higher same-store sales for the second quarter 2012. Officials also raised the company’s guidance for the full year 2012.

The Birmingham, Ala.-based retail chain reported its same-store sales up 4.8 percent, the 11th straight quarter of gains as Hibbett has best weathered the warm winter among its peers with more of a focus on athletic and spring/summer gear. Dick’s Sporting Goods, Sports Chalet, and Big Five Sporting Goods were all back into positive territory in the second quarter after earlier experiencing weaker results due to the weak winter.

Total second-quarter sales for Hibbett (including seven new stores, three expansions and five closings) rose 8 percent to $156.4 million. Quarterly net income increased to $7.9 million, versus $5.9 million a year ago.

Officials said they continue to see strong sales and margin growth for 2012 (the company’s 2013 fiscal year). They see same-store sales now rising in the mid-single-digit percentage range for the full year.

Hibbett Sports has 837 stores in 26 states. Throughout this year the company plans to open 55 to 60 stores, expand 15 and close 18.

--David Clucas

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