LONDON, UK / ACCESSWIRE / April 23, 2018 / Active-Investors.com has just released a free earnings report on Hibbett Sports, Inc. (NASDAQ: HIBB) ("Hibbett"). If you want access to this report all you need to do is sign up now by clicking the following link www.active-investors.com/registration-sg/?symbol=HIBB. The Company reported its fourth quarter fiscal 2018 and full fiscal year 2018 operating and financial results on March 16, 2018. The sporting goods retailer's revenues were in-line with market expectations. Additionally, the Company provided guidance for the upcoming fiscal year. Register today and get access to over 1000 Free Research Reports by joining our site below:

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Active-Investors.com is focused on giving you timely information and the inside line on companies that matter to you. This morning, Hibbett Sports most recent news is on our radar and our team decided to put out a fantastic report on the company that is now available for free below:

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Earnings Highlights and Summary

For the 14-week period ended February 03, 2018, Hibbett's net sales increased 8.0% to $266.7 million, including the $13.5 million of the 53rd week, compared to $246.9 million for the 13-week period ended January 28, 2017. The Company's comparable store sales increased 1.6% on a 13-week to 13-week basis. The Company's ecommerce sales represented 7.6% of the Company's total sales for the reported quarter. Hibbett's revenue numbers were in-line with analysts' estimates.

During Q4 FY18, Hibbett's gross margin was 31.5% of net sales compared to 33.0% in Q4 FY17. The decline in gross margin was mainly due to promotions and markdowns taken to improve the Company's inventory position, and a one-time charge of $0.9 million to establish a reserve against Hibbett's Team Division inventory as a result of selling the business.

For Q4 FY18, Hibbett's store operating, selling, and administrative expenses were 23.2% of net sales, at par with 23.2% of net sales in Q4 FY17. The Company's reported quarter results included a one-time gain of $3.1 million due to the sale of the Company's Team Division.

Hibbett's net income was $9.7 million, or $0.51 per diluted share, in Q4 FY18 compared to $12.1 million, or $0.54 per diluted share, in Q4 FY17. The Company's reported quarter results included a one-time gain of $0.07 per diluted share due to the sale of the Company's Team Division, and a benefit of $0.08 per diluted share due to the 53rd week in FY18. Hibbett's earnings beat Wall Street's estimates of $0.44 per share.

For the 53-week period ended February 03, 2018, Hibbett's net sales decreased 0.5% to $968.2 million compared to $973.0 million for the 52-week period ended January 28, 2017. The Company's comparable store sales decreased 3.8% on a 52-week to 52-week basis.

Hibbett's net income was $35.0 million, or $1.71 per diluted share, in FY18 compared to $61.1 million, or $2.72 per diluted share, in FY17. The Company's earnings for FY18 included a one-time gain of $0.07 per diluted share due to the sale of the Company's Team Division, and a benefit of $0.07 per diluted share due to the 53rd week in FY18.

Store Update

During Q4 FY18, Hibbett opened 12 new stores, expanded 2 high-performing stores, and closed 14 underperforming stores; bringing the store base to 1,079 in 35 states as of February 03, 2018.

For FY18, Hibbett opened 44 new stores, expanded 11 high performing stores, and closed 43 underperforming stores.

Liquidity and Stock Repurchases

As of February 03, 2018, Hibbett had $73.5 million of available cash and cash equivalents on the consolidated balance sheet, no bank debt outstanding, and full availability under its $60.0 million unsecured credit facilities.

During Q4 FY18, Hibbett repurchased 611,596 shares of its common stock for a total expenditure of $9.3 million. For FY18, the Company repurchased 2,842,809 shares of its common stock for a total expenditure of $54.5 million. Hibbett had approximately $204.1 million remaining for future stock repurchases as of February 03, 2018.

Fiscal 2019 Outlook

For the full fiscal year 2019, Hibbett is forecasting earnings per diluted share to be in the range of $1.65 to $1.95, and comparable store sales to be in the band of (1.0%) to 2.0%. For FY19, the Company expects approximately 30 to 35 new store openings, and approximately 55 to 60 store closures. Hibbett is forecasting an improvement in gross margin rate in the range of 70 to 100 basis points in FY19, and share buyback of approximately $40.0 million to $50.0 million.

Stock Performance Snapshot

April 20, 2018 - At Friday's closing bell, Hibbett Sports' stock marginally declined 0.59%, ending the trading session at $25.15.

Volume traded for the day: 525.12 thousand shares.

Stock performance in the last month ? up 11.04%; previous six-month period ? up 86.99%; and year-to-date ? up 23.28%

After last Friday's close, Hibbett Sports' market cap was at $494.45 million.

Price to Earnings (P/E) ratio was at 14.42.

The stock is part of the Services sector, categorized under the Sporting Goods Stores industry.

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