• Loading stock data...
Tuesday, April 16, 2024
  • -
  • -
  • -
  • -

Hibbett Scores Record $1.7B in Sales

  • Hibbett saw a 19.6% year-over-year increase in Q4 sales.
  • The athletic-inspired fashion retailer was "especially pleased" with its e-commerce sales.
View of a Hibbett Sports storefront.
Hibbett Sports

After a disappointing second quarter, Hibbett, Inc. rebounded nicely with a strong end to its fiscal year.

The athletic-inspired fashion retailer reported net sales of $458.3 million during the fourth quarter — a 19.6% increase from the same period in the previous fiscal year.

It led to Hibbett posting a record $1.7 billion in net sales for the year.

CEO and president Mike Longo noted that the company was “especially pleased” with its e-commerce business, which increased comparable sales 21.4% in Q4 and 14% for the year.

On the other hand, brick-and-mortar sales increased 14.3% year over year for the quarter — but actually decreased 4.9% for the entire year.

Hibbett may have achieved the feat by cutting costs: Capital expenditures were $15.4 million for the quarter, compared to $27.3 million for the same quarter a year before.

Hibbett Underwhelms in Second Quarter

Hibbett, Inc. posted unfavorable results in the company’s latest earnings report.
August 25, 2022

Longo is expecting some challenges as the company turns its calendar.

“​​As we look ahead to Fiscal 2024, we believe there are several headwinds including inflation, higher interest rates and a more promotional retail environment,” he said in a statement.

Meanwhile, another company in the sporting goods space is not experiencing the same type of success.

Retail Ecommerce Ventures LLC — the owner of Modell’s Sporting Goods, as well as other companies like Pier 1 Imports and RadioShack — is reportedly seeking financing for a possible bankruptcy.

Copy Link
Link Copied
Link Copied

What to Read

Star-Studded NBA Play-In a Potential Ratings Boon for ESPN and TNT

The initial portion of the NBA postseason features three former MVPs.

NBA’s Two Tourneys Drive Record Attendance

Total attendance for the 2023–24 season, which ended Sunday, was 22,538,518.

Salt Lake City About to Land NHL’s Coyotes (Minus Their Name)

Salt Lake City’s NHL franchise will have a new name.

NFL’s Expanded Helmet Options Come With a Perk: More Merch

Teams can now add a third helmet design to their overall look.
podcast thumbnail mobile
Front Office Sports Today

Inside the Most-Hyped WNBA Draft in History


Featured Today

Women’s Basketball Finally Has a TV Deal to Match the Excitement. Now What?

A lucrative new media-rights contract could rectify problems of the past, but the future of March Madness media rights is anyone’s guess.
Mar 16, 2024; Washington, D.C., USA; North Carolina State Wolfpack forward DJ Burns Jr. (30) cuts the net after defeating the North Carolina Tar Heels for the ACC Conference Championship at Capital One Arena.
April 6, 2024

How Two College Seniors Helped DJ Burns Cash In on a Final Four Run

Two college seniors are facilitating deals for NC State’s big man.
Mar 31, 2024; Portland, OR, USA; NCAA officials measure the three point line while coaches from the Texas Longhorns and NC State Wolfpack watch with referees in the finals of the Portland Regional of the NCAA Tournament at the Moda Center center.
April 1, 2024

NCAA Has No One to Blame for Latest Women’s March Madness Transgressions

NCAA is still making avoidable mistakes three years after a complete overhaul.
Nov 16, 2015; Bloomington, IN, USA; General view of the championship banners at Assembly Hall prior to the game between Austin Peay and Indiana.
March 31, 2024

How to Make It in Basketball: Become a Manager at Indiana

Inside the Hoosiers’ unglamorous, profoundly rewarding incubator for basketball’s biggest names.


Powered By

Careers in Sports

Looking for a new job? Check out these featured listings and search for openings all over the world.
Multiple - USA Careers
Multiple - USA Careers
Dunham's Sports
Multiple - USA Careers

Silver Lake to Take Endeavor Private, Ending Tough Stock Market Run

Private equity giant Silver Lake is set to acquire the remaining shares it didn’t already own.
Exterior of Nike Company Store
February 16, 2024

Nike to Lay Off 2% of Its Workforce in Cost-Savings Effort

The sportswear giant hinted at staff cuts in a December earnings call.
February 16, 2024

DraftKings Trends Toward the Black, Buys Lottery App

The sports gambling giant continues to narrow its losses.

Rapid Returns: How Technology Is Getting You Back to Your Seat

How Oracle’s POS technology is helping fans get back to their seats faster.
February 7, 2024

ESPN DTC to Debut by Fall 2025, but Streaming Alliance Hastens Market Entry

Date set for stand-alone version of network, but new joint venture will beat that by a year.
January 22, 2024

They Make Sports Balls—and They Could Be Worth Almost $9 Billion

Amer Sports looks to raise as much as $1.8 billion in the public markets.
A view of a FanDuel sportsbook location.
January 18, 2024

FanDuel Strengthens U.S. Dominance Ahead of NYSE Debut

Flutter posts strong financial results as NYSE shares are set to debut Jan. 29.
The swoosh logo at Nike Eugene.
September 28, 2023

Nike Misses Revenue Wall Street’s Projections, But Company’s Stock Soar

The company offset the shortfall by exceeding expectations in earnings per share.