Hibbett : Hibbett Sporting Goods Announces Sales for Fourth Quarter and Fiscal 2007
02/08/2007| 04:00pm US/Eastern
Hibbett Sporting Goods, Inc. (NASDAQ/GS: HIBB), a rapidly growing
sporting goods retailer, today announced sales for the fourth quarter
and fiscal year ended February 3, 2007. The Company will report earnings
results for both periods on March 14, 2007.
Net sales for the 14-week period ended February 3, 2007, increased 25.1%
to $151.2 million, compared with net sales of $120.8 million for the
13-week period ended January 28, 2006. Comparable store sales increased
5.9% for the comparable 13-week period.
For the 53-week fiscal year ended February 3, 2007, net sales increased
16.3% to $512.1 million, compared with $440.3 million for the 52-week
period ended January 28, 2006. Comparable store sales for the year
increased 3.8% for the comparable 52-week period of fiscal 2007.
Comparable store net sales data reflects sales for our Hibbett Sports
and Sports Additions stores open through the 13-week and 52-week periods
ended January 27, 2007, and the 13-week and 52-week periods ended
January 28, 2006.
Commenting on the announcement, Mickey Newsome, Chairman and Chief
Executive Officer, stated, ?Our comparable
store sales were very strong in the second half of the year with a 6.6%
increase. In the fourth quarter, activewear, licensed apparel, footwear
and team sports equipment were all positive. Comparable store sales were
led by youth apparel and youth footwear.?
For the quarter, the Company opened 25 new stores and closed 2 stores.
For the year, the Company opened 74 new stores and closed 10 stores,
bringing the total to 613 stores in 23 states.
Hibbett Sporting Goods, Inc. operates sporting goods stores in small to
mid-sized markets, predominantly in the Sunbelt, Mid-Atlantic and
Midwest. The Company's primary store format is Hibbett Sports, a
5,000-square-foot store located in dominant strip centers and enclosed
A WARNING ABOUT FORWARD LOOKING STATEMENTS: Certain matters
discussed in this press release are "forward looking statements" as that
term is used in the Private Securities Litigation Reform Act of 1995.
Forward looking statements address future events, developments or
results and typically use words such as believe, anticipate, expect,
intend, plan, forecast, guidance, outlook, or estimate. Such
statements are subject to risks and uncertainties that could cause
actual results to differ materially, including economic conditions,
industry trends, merchandise trends, vendor relationships, customer
demand, and competition. For a complete description of these
factors, as well as others which could affect our business, you should
carefully review the "Risk Factors," "Business," and "MD&A" sections in
our Annual Report on Form 10-K filed on April 13, 2006 and our most
recent prospectus supplement filed May 2, 2003. In light of these
risks and uncertainties, the future events, developments or results
described by our forward looking statements in this document could turn
out to be materially and adversely different from those we discuss or
imply. We are not obligated to release publicly any revisions to
any forward looking statements contained in this press release to
reflect events or circumstances occurring after the date of this report
and you should not expect us to do so.
© Business Wire 2007