• Loading stock data...
Monday, January 27, 2025

Hibbett Earnings Add To Sports Retailer Surge

Hibbett Sports/Design: Alex Brooks

Hibbett raised its forecast for the rest of the year on Friday following its second-quarter earnings report.

The athletic fashion retailer recorded $419.3 million in net sales, a 66.1% increase from 2019 but a 5.1% decrease from last year.

Hibbett blew past Wall Street’s estimates of $320.89 million.

President and CEO Mike Longo said that despite supply chain disruptions, the company’s inventory position actually improved, reaching $216.8 million, a 19.1% increase from the same period last year.

The report comes two days after its much larger rival Dick’s Sporting Goods also raised its 2021 forecast. Academy Sports is scheduled to report earnings Sept. 9.

  • Dick’s generated $3.27 billion in Q2 revenue.
  • Net income for Dick’s reached $495.5 million, up from $276.8 million during the same period last year.

Hibbett has 1,080 stores, opening 11 during the quarter. It also repurchased 989,388 shares of common stock for $83.5 million.

Net sales for the first half of Hibbett’s fiscal year were $926.1 million, well above the $711.4 million for the same period in 2020, and 55.5% over the H1 2019 total of $595.7 million.

Linkedin
Whatsapp
Copy Link
Link Copied
Link Copied

What to Read

Sponsored

How Sportradar and the NBA Are Shaping the Future of Immersive Fan..

By transforming raw data into tailored, interactive content, Sportradar helps turn the NBA’s enormous fanbase into active participants.
Nov 24, 2024; Los Angeles, California, USA; South Carolina Gamecocks center Sakima Walker (35) and UCLA Bruins forward Angela Dugalic (32) jockey for rebounding position during the fourth quarter at Pauley Pavilion presented by Wescom. Mandatory

Players Era NIL Tourney to Add Women’s Basketball in 2025

Get ready for a South Carolina–UCLA rematch.
Sep 21, 2024; Columbus, Ohio, USA; Marshall Thundering Herd running back Ethan Payne (28) dives in for the touchdown during the first quarter against the Ohio State Buckeyes at Ohio Stadium. Mandatory

Portal-Depleted Marshall Bows Out of Independence Bowl

Louisiana Tech (5–7) will take Marshall’s place.
Sponsored

Racing Forward: How SailGP is Redefining High-Performance Sailing and Championing Gender Equality

The most exciting racing on water is making waves by rewriting the narrative of what’s possible for women in high-performance sports.

Featured Today

PWHL arena

PWHL’s Sophomore Year Booms in Canada, Has Room to Grow in U.S.

Attendance is up 30% from last year, the league says.
January 24, 2025

Once Abandoned, Portland Is Regaining Its Place in the WNBA

The next WNBA team is springing up in a once-deserted market.
October 17, 2011; East Rutherford, NJ, USA; New York Jets fan fireman Ed during the first half against the Miami Dolphins at the New Meadowlands Stadium.
January 24, 2025

Superfandom Is a Lifestyle, Business—and Thorn in Some Teams’ Sides

Rabid fandom has perks—sometimes to the frustration of teams and leagues.
Jeremiah Smith
January 22, 2025

Ohio State’s Title Isn’t As Simple As $20 Million in NIL

Three lessons from the Buckeyes’ title beyond “pay the best players.”
Russ Brandon

UFL President: NFL Used to View Private Equity Like Gambling 

The longtime NFL executive is stunned by the league’s evolution on PE.
October 24, 2024

Endeavor, TKO Consolidate Sports Assets, Hoping They’re Better Together

The move brings On Location, Professional Bull Riders, and IMG under TKO.
Sponsored

How UBS Crafts Impactful Partnerships Across Sports, Arts, and Culture

As UBS continues to expand its impressive array of sports and entertainment partnerships, the company solidifies its position as a leader in wealth management.
October 1, 2024

Nike CFO Says ‘Adversity Creates Sharper Focus’

Amid a downbeat but expected set of earnings, Nike says it sees signs of optimism.
Sep 11, 2024; Los Angeles, California, USA; The Nike shoes worn by Seattle Storm center Mercedes Russell in the first half against the LA Sparks at Crypto.com Arena.
opinion
September 28, 2024

New Nike CEO Must Do It

The biggest task the new CEO faces is intangible: Refresh the brand.
A Nike swoosh on a building in Eugene, Oregon.
September 23, 2024

Wall Street: Things Will Get Worse for Nike Before They Get Better

Some analysts are skeptical of how much the new CEO will change.
Crypto.com soccer advertising
September 15, 2024

The Champions League Is Back. So Is Crypto Sponsorship

Crypto investment is making its debut in the biggest European soccer competition.