Hibbett, Inc. provided earnings guidance for the year 2023. Total net sales are expected to increase in the low-single digit range in dollars compared to Fiscal 2022 results. This implies comparable sales are expected to be in the range of flat to positive low-single digits for the full year.

Full year brick and mortar comparable sales are expected to be in the flat to positive low-single digit range while full year e-commerce revenue growth is anticipated to be in the positive high-single digit range. It is anticipated that comparable sales will be in the positive low-double digits in the second half of the year. Sales forecasts are based on assumptions that as the year progresses, supply chain disruptions moderate, the timing of inventory receipts is consistent and predictable, and overall inventory position remains strong.

Net new store growth is expected to be in the range of 30 to 40 stores with units spread relatively evenly throughout the year. Operating income is still expected to be in the low double-digit range as a % of sales, also remaining above pre-pandemic levels. Diluted earnings per share are anticipated to remain in the range of $9.75 - $10.50.