Ahead Of Hibbett Sports' Q4 Results

(RTTNews) - Sporting goods retailer Hibbett Sports Inc. (HIBB) is scheduled to release its fourth-quarter numbers before the bell on March 10, with analysts polled by Thomson Reuters estimating earnings of $0.73 per share on revenue of $246.15 million. Analysts' estimates typically exclude certain special items.

The company's previous quarter results benefited from strong back-to-school sales, improved margins and expense control efforts coupled with its merchandising initiatives.

Hibbett Sports currently sees earnings in the range of $2.87 - $2.94 for the 52 weeks ending January 30, 2016, versus the previously communicated outlook range of $2.80 - $2.90. Analysts look for earnings of $2.87 per share.

Comparable store sales are expected to be close to flat for the year, which compares to previous guidance of flat to a low single-digit increase.

Jeff Rosenthal, CEO, said, "We were very pleased with our back-to-school sales, our margin performance and expense controls, and are encouraged by the great progress we are making with our merchandising initiatives... Looking forward, we believe that our ongoing improvements in merchandise strategies, execution and replenishment capabilities have us well-positioned for the holiday season."

In the previous quarter, the company's net income rose to $18.7 million from $16.9 million for the 13-week period ended November 1, 2014. Earnings per share advanced to $0.79 from $0.67. The impact of the favorable legal settlement contributed $0.05 per share to the just concluded quarter. Analysts expected earnings of $0.68 per share for the quarter.

Net sales for the 13-week period ended October 31, 2015, grew 4.6% to $228.3 million from $218.3 million for the 13-week period ended November 1, 2014. Comparable store sales for the third quarter increased 0.6%. Analysts expected revenues of $233.35 million.

According to the company, sales softened late in the quarter due to significant declines in colder weather categories, although footwear remained strong due to benefits from a strong assortment and an improved in-stock position.