×
33 101
Fashion Jobs
ROSS STORES
Merchandise Planner
Permanent · New York
ROSS STORES
Manager of Merchandise Planning
Permanent · New York
ROSS STORES
Buyer, Home
Permanent · New York
ROSS STORES
Buyer
Permanent · New York
UNIQLO
HR Manager
Permanent · New York
NORDSTROM
Loss Prevention Security Ambassador Long Island Rack
Permanent · Garden City
NORDSTROM INC
Loss Prevention Security Ambassador King of Prussia
Permanent · King of Prussia
NORDSTROM
Loss Prevention Agent West Oaks Rack
Permanent · Novi
NORDSTROM INC
Loss Prevention Security Ambassador Chandler Festival Rack
Permanent · Chandler
NORDSTROM INC
Operations Manager - San Bernardino, ca
Permanent · San Bernardino
NORDSTROM INC
Loss Prevention Agent - Tysons Corner
Permanent · McLean
NORDSTROM
Loss Prevention Security Ambassador Troy Market Place Rack
Permanent · Troy
PACSUN
E-Commerce Photo Studio Manager
Permanent · Anaheim
KOHLS
Full-Time Loss Prevention Supervisor
Permanent · Grand Junction
KOHLS
Full-Time Sales Supervisor - Softlines
Permanent · Conway
KOHLS
Full-Time Sales Supervisor - Softlines
Permanent · Asheville
KOHLS
Full-Time Loss Prevention Officer
Permanent · Yuba City
KOHLS
Full-Time Sales Supervisor - Hardlines
Permanent · Las Vegas
KOHLS
Full-Time Sales Supervisor - Hardlines
Permanent · Waite Park
THE ESTEE LAUDER COMPANIES
Keyholder - Cosmetic Company Store - Part Time - Columbus Outlet Center - Columbus, oh
Permanent · COLUMBUS
L BRANDS
Asset Protection Officer, Broad st - 2nd Shift (3pm -11pm)
Permanent · Reynoldsburg
VICTORIA'S SECRET
Brand Operations Manager-Alamance Crossing
Permanent · Burlington
Published
Mar 6, 2021
Reading time
2 minutes
Share
Download
Download the article
Print
Click here to print
Text size
aA+ aA-

Hibbett Sports posts 20% sales rise, beats earnings expectations

Published
Mar 6, 2021

Birmingham, Alabama-based sportswear and equipment retailer Hibbett Sports, Inc. reported a solid fourth quarter on Friday, with improvements in sales driving stronger than expected gains in the company’s bottom line.


Hibbett Sports made solid progress despite the Covid-19 pandemic in 2020 - Instagram: @hibbettsports

 
In the fourth quarter ended January 30, 2021, Hibbett’s net sales totaled $376.8 million, increasing 20.4% from $313.0 million in the same period in the previous year. Comparable sales rose 2.9%.
 
The company’s e-commerce sales saw particularly strong growth, achieving a 44.8% increase and representing 17.1% of Hibbett’s total sales in Q4, compared to 14.2% in the prior-year period. Brick-and-mortar comparable sales grew 17.7%.

According to the retailer, its sales were positively impacted by strength in omni-channel adoption and improved new customer retention, as well as by the availability of in-demand products and incremental stimulus payments.
 
Hibbett’s quarterly net income was $23.9 million, or $1.39 per diluted share, coming in ahead of the FactSet consensus of $1.37 cited by MarketWatch. In the prior-year period, the company’s net income was $6.0 million, or $0.34 per diluted share.
 
“The strong momentum that we experienced in our business in the second and third quarters continued in the fourth quarter,” said Hibbett president and CEO Mike Longo in a release.
 
“Our ongoing ability to deliver a compelling assortment of merchandise through superior customer service and a best-in-class omni-channel platform generated outstanding fourth quarter performance in both sales and profitability and provided a strong conclusion to a record-setting fiscal 2021,” he added.
 
Hibbett’s full-year sales increased 19.9% to $1.42 billion, up from $1.18 billion in the previous year, while comparable sales rose 22.2%. Brick-and-mortar comparable sales grew 13.3%, but it was e-commerce revenues which made the most progress, posting an 89.3% rise.
 
Annual net income totaled $74.3 million, or $4.36 per diluted share, compared to the $27.3 million, or $1.52 per diluted share, reported by the company the year before.
 
Over the course of the year, Hibbett opened 16 new stores and permanently closed 42. The company also rebranded 12 Hibbett locations as City Gear stores. Currently, the retailer operates 1,067 stores under the Hibbett and City Gear banners.
 
Looking to the future, Hibbett expects to report comparable sales ranging from negative low-single digits to positive low-single digits in fiscal 2022. Diluted earnings per share are expected to be between $5.00 and $5.50.

Copyright © 2021 FashionNetwork.com All rights reserved.