Hibbett Sports, an athletic-inspired fashion retailer, posted better-than-expected fiscal 4Q earnings, driven by strong e-commerce sales. Meanwhile, net sales for the quarter missed analysts’ expectations. Shares closed almost 4% lower on March 5. Hibbett’s (HIBB) 4Q adjusted earnings more than doubled to $1.40 per share, compared to $0.51 reported in the prior-year period, and beat analysts’ expectations of $1.37. Net sales of $376.83 million missed the Street’s estimates of $378.42 million but advanced 20.4% from the year-ago period. The company’s comparable sales increased 21.9%, while brick and mortar comparable sales surged 17.7%. E-commerce comparable sales jumped 44.8%. Additionally, the adjusted gross margin was 37.1%, up from 31.
https://www.tipranks.com/news/hibbett-4q-profit-exceeds-estimates-as-e-commerce-sales-boom-shares-tank-4