Hibbett, Inc. (NASDAQ: HIBB) stock rose after the athletic fashion retailer announced its fiscal 2023 first-quarter earnings date and webcast information.
HIBB was trading at $45.34 at the time of writing, up 2.5%. Hibbett has a $587.31 million market capitalization and a 52-week price range of $40.30 – $101.65.
Hibbett intends to release its first-quarter fiscal 2023 earnings report before the market opens on May 27, 2022, followed by a live, interactive webcast at 10:00 a.m. ET that same day. Hibbett’s quarterly earnings review webcast will be available at https://investors.hibbett.com/ under the News & Events section.
Analysts Expectation
EPS – $3.45
Revenue – $431.2 Million
Earnings History
- Fourth-quarter fiscal 2022 comp sales decline 1.0% versus fourth-quarter fiscal 2021; two-year comp sales increase of 20.7%.
- Full-year comp sales increased 17.4% versus fiscal 2021; two-year comp sales increased of 43.7%.
- Fourth-quarter diluted EPS of $1.25; full-year diluted EPS of $11.19.
- Net sales for the 13-weeks ended January 29, 2022, increased 1.7% to $383.3 million compared with $376.8 million for the 13-weeks ended January 30, 2021.
- The gross margin was 35.1% of net sales for the 13-weeks ended January 29, 2022, compared with 37.1% of net sales for the 13-weeks ended January 30, 2021.
- Net income for the 13-weeks ended January 29, 2022, was $17.7 million, or $1.25 per diluted share, compared to $23.9 million, or $1.39 per diluted share for the 13-weeks ended January 30, 2021.
- During the fourth quarter, we opened 12 new stores and closed two stores, bringing the store base to 1,096 in 35 states as of January 29, 2022. One Sports Additions store rebranded to a Hibbett store is included in open and closed stores.
- We ended the fourth quarter of Fiscal 2022 with $17.1 million of available cash and cash equivalents on our unaudited condensed consolidated balance sheet. As of January 29, 2022, we had no debt outstanding and total availability under our $100.0 million unsecured credit facility.
Company Profile
Hibbett, Inc. and its subsidiaries sell athletic-inspired fashion products in small and mid-sized communities across the United States. Its stores sell various products such as athletic footwear, athletic and fashion apparel, team sports equipment, and related accessories.
The company operated approximately 1,096 retail stores as of January 29, 2022, including 900 Hibbett Sports stores, 179 City Gear stores, and 17 Sports Additions athletic shoe stores. It also sells its goods via online channels. Hibbett, Inc. was established in 1945 and is based in Birmingham, Alabama.
