Hibbett Sports (HIBB) Misses Q4 EPS by 11c, Revenues Beat, Comp. Sales Up 4%

Hibbett Sports (NASDAQ: HIBB) reported Q4 EPS of $0.51, $0.11 worse than the analyst estimate of $0.62. Revenue for the quarter came in at $313.02 million versus the consensus estimate of $303.63 million.

• Comparable Sales Increase 4.0% in Fourth Quarter and 5.3% in FY 2020
• Fourth Quarter EPS of $0.34 and Non-GAAP Adjusted EPS of $0.51 Per Share
• Full Year EPS of $1.52, essentially flat compared to $1.51 Per Share in Fiscal 2019, and Full Year Non‑GAAP Adjusted EPS of $2.33 Per Share, a 32% increase compared to $1.77 Per Share in Fiscal 2019
• Fifth Consecutive Quarter of Comparable Sales Growth

Mike Longo, President and Chief Executive Officer, stated, “Our business continues to perform well as shown by the 4.0% comparable store sales performance in the quarter. The sales growth was made possible by the hard work and dedication of our team and their execution of our strategies. Our focus on the toe-to-head concept and the consumer experience is paying off. At the same time, we continue to improve our digital business, which accounted for 14.2% of the sales mix in the fourth quarter, setting a new record. Additionally, our City Gear acquisition continues to exceed expectations, both in store as well as on-line.

Mr. Longo continued, “The Coronavirus has injected a measure of uncertainty in the market. Like all retailers, we are monitoring the situation and taking the necessary steps to safeguard our customers, our employees, and our stockholders. Currently, we do not anticipate any material disruption to our supply chain during the first quarter. We have experienced a slowdown in demand this week. However, we believe we have ample liquidity and financial flexibility to navigate this period of uncertainty, while positioning Hibbett for future success.”

For earnings history and earnings-related data on Hibbett Sports (HIBB) click here.

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