US sports retail group records double-digit grow - sportstextiles: Lea SportsTextiles

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US sports retail group records double-digit growth

25/11/2011
Sales growth figures of more than 10% are not the exclusive preserve of companies in China after all. Hibbett Sports, an Alabama-based multibrand, multisports group currently running more than 800 stores in 26 states of the US, has recorded sales figures for the third quarter of the current fiscal year that are 10.6% higher than for the same quarter last year.

Sales for the quarter were $185.2 million and the total for the first three quarters of the year is $542 million, an increase of 10.2% on last year. These results have made Hibbett the talk of the finance media in the US.

Commenting on the results, chief executive, Jeff Rosenthal, said this was the eighth consecutive quarter of sales increases and that the operating margin for the third quarter was at a record high for the company. "Strong footwear and apparel sales, improved inventory management, and operational excellence continue to drive our results," he added.

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