Lack of ‘compelling footwear’ hits Hibbett
14/08/2007
Alabama-based sporting goods retailer Hibbett Sports has cut its earnings expectations for the second quarter.
Chairman and chief executive, Mickey Newsome, said the company had made the readjustment following a “continued sales downtrend” in urban stores, weakness in sales of merchandise licensed by sports stars and what he called “the lack of compelling footwear product to energise our consumer”.
Hibbett did achieve stronger results in branded apparel and accessories during the quarter.
