Hibbett’s third quarter sales up 17.2%
21/11/2006
US sporting goods retailer Hibbett Sporting Goods, Inc., has reported a 17.2% increase in third quarter net sales. Net sales reached $129.7 million, compared with $110.6 million for the same quarter last year. Comparable store sales increased 7.1%. Net income for the period grew 21.5% to $9.9 million, compared with $8.2 million.
Net sales for the 39-week period to the end of October increased 13% to $360.9 million, compared with $319.4 million for the comparable period last year. Comparable store sales increased 2.8% for the first nine months.
Net income rose 7.3% to $25.5 million, compared with $23.7 million for the same prior year period.
Hibbett opened 20 new stores and closed two during the third quarter, bringing its store base to 590 stores.
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