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Hibbett, Inc. (Symbol: HIBB) is a prominent player in the retail sports goods industry, with its headquarters nestled in Birmingham, Alabama. The company has grown significantly since its humble beginnings as a neighborhood sporting goods store, now boasting over 1,080 stores across 35 states. Despite its expansion, Hibbett, Inc. remains committed to its core philosophy - 'It's all about the customer.'
Hibbett, Inc. operates through three main retail formats: Hibbett Sports, City Gear, and Sports Additions. Hibbett Sports is the primary format, offering a wide range of sporting goods, including apparel, footwear, accessories, and equipment for team sports. City Gear and Sports Additions are smaller-format stores that primarily focus on athletic footwear with a fashion-forward approach.
The company's product lineup is impressive, featuring top brands such as Nike, Under Armour, Adidas, The North Face, Jordan, and Costa. These brands ensure that customers have access to the latest products and exclusive items that are harder to find, helping athletes and sports enthusiasts stay ahead of the competition.
Hibbett, Inc. has not only focused on its product offerings but also on creating an exceptional shopping experience. The knowledgeable staff in their stores are dedicated to helping customers reach their next level of play, whether they are shopping for themselves or an entire team. This personalized customer service ethos is a key differentiator in the competitive retail landscape.
Financially, Hibbett, Inc. has demonstrated robust performance, leveraging its strategic presence in the South, Southwest, Mid-Atlantic, and Midwest regions of the United States. The company's growth is driven by its ability to adapt to market trends and consumer preferences, ensuring that it remains relevant in an ever-evolving market.
In recent developments, Hibbett, Inc. has continued to innovate and expand its product offerings and store formats. The company is constantly exploring new partnerships and collaborations with leading brands to enhance its product range and appeal to a broader audience. This forward-thinking approach positions Hibbett, Inc. as a dynamic and resilient player in the retail sports goods industry.
Stay updated with the latest news and developments from Hibbett, Inc. to keep a pulse on their performance, new product launches, and strategic initiatives. Whether you're an investor, a customer, or a sports enthusiast, Hibbett, Inc. offers a wealth of opportunities and insights.
Hibbett reported Q1 diluted EPS of $2.89, down from $5.00 YoY, with net sales declining 16.3% to $424.1 million. Comparable sales fell 18.9% YoY but rose 22.9% compared to Q1 FY2020. Brick-and-mortar sales decreased 22%, while e-commerce grew 4.1%. Inventory increased by 72.6% to $314.9 million. The company expects flat total net sales for FY2023 but anticipates a positive outlook for e-commerce. Gross margin is projected to decline by 130-160 basis points due to inflationary pressures. Hibbett plans 30-40 new store openings and continues its stock repurchase program.
Hibbett, Inc. (NASDAQ: HIBB) has announced its first quarter earnings release date for fiscal 2023, ending April 30, 2022. The report will be available before market opens on
Hibbett, Inc. (NASDAQ: HIBB) launched the 2022 season of the Small-Town Sneakerhead series, featuring Reggie Ward from Lafayette, Louisiana. The episode showcases Ward's extensive sneaker collection and his family's tradition of sneaker culture. Ward introduces his son and shares local culinary experiences, reinforcing cultural connections through sneakers. The initiative aims to highlight sneaker enthusiasts’ personal stories across diverse American regions, continuing Hibbett's collaboration with Nike and Nice Kicks.
Hibbett, Inc. has announced the promotion of two key executives to Senior Vice President positions: Mike McAbee as SVP of Supply Chain & Store Development and Stephani Smith as SVP of Merchandising. McAbee, with nearly 20 years at Hibbett, will focus on store development strategies, while Smith, who joined in 2020 after 27 years at Nike, will oversee buying operations across various demographics. These promotions aim to enhance the company’s growth and customer satisfaction.
Hibbett, Inc. (HIBB) reported a 1.0% decline in Q4 comparable sales but a 17.4% increase for the full year versus Fiscal 2021. Net sales for Q4 rose 1.7% to $383.3 million, while full-year net sales increased 19.1% to $1.69 billion. Fourth quarter diluted EPS was $1.25, down from $1.39 a year earlier. The company anticipates flat sales in Fiscal 2023, with negative comp sales expected in the low-single digits. Gross margin is projected to decline by 130-160 basis points due to supply chain challenges and inflation.
Hibbett, a leading footwear and athleisure retailer, has announced an exciting giveaway in celebration of Air Max Day this March. The promotion offers participants a chance to win a year's worth of free sneakers, valued at $3,000. To enter, participants must sign up for Hibbett|City Gear emails, follow their Instagram accounts, and tag three friends in a comment. The grand prize winner will be chosen by April 13, 2022. Hibbett continues to pay tribute to Nike's iconic Air Max series, which has been popular for over thirty years.
Hibbett reported mixed financial results for Q4 and FY 2022. Net sales for Q4 increased 1.7% to $383.3 million, but comparable sales fell 1.0%, below expectations. Supply chain disruptions, inflation, and COVID-19 affected performance. For FY 2022, net sales rose 19.1% to $1.69 billion, with comparable sales up 17.4%. However, Q4 diluted EPS is projected between $1.18 and $1.25, lower than guidance of $1.85 to $2.05. Looking ahead to FY 2023, sales are expected to be flat, with anticipated challenges including inflation and supply chain issues.
Hibbett, Inc. (NASDAQ:HIBB) announced the reopening of multiple stores in Alabama and Georgia on January 10, 2022, following the College Football National Championship Game. The reopening allows fans to purchase official championship gear immediately after the game concludes. Senior VP of Operations, Ben Knighten, emphasized the tradition of catering to fans post-game. Hibbett aims to be well-stocked with merchandise for either Alabama or Georgia fans, depending on the game's outcome. The retailer operates 1,086 stores across 35 states and offers a variety of licensed team apparel and footwear.
Hibbett, Inc. (NASDAQ:HIBB) announced the release of a special holiday edition of Small-Town Sneakerhead on December 13, 2021. This digital series celebrates its one-year anniversary, featuring updates from original cast members about their personal lives and sneaker collections. The episode is available on various platforms including Hibbett.com and social media. Hibbett emphasizes its commitment to the sneaker culture community and its collaboration with Nike and Nice Kicks to inspire and impact sneaker enthusiasts.
Hibbett reported a strong financial performance for Q3 2021, with net sales rising 15.2% to $381.7 million and a 13.0% increase in comparable sales. Year-to-date, sales increased 24.1% compared to the previous year. Despite supply chain challenges, inventory improved significantly, enhancing positioning for the holiday season. Gross margin decreased to 36.3% due to rising freight costs, but SG&A expenses improved. The company raised its full-year guidance for comp sales and diluted EPS. Net income for Q3 was $25.2 million or $1.68 per share.
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