Performance footwear key to growth at Hibbett
22/08/2008
Hibbett Sports has posted higher sales and income for its second quarter ended August 2.
Net sales for the 13-week period increased 13.9% to $130.3 million compared with $114.4 million for the corresponding period last year ended August 4, 2007. Comparable store sales increased 5% and net income was $4.8 million compared with $4.7 million for the prior-year period.
Net sales for the 26-week period ended August 2increased 11.2% to $276.1 million compared with $248.2 million for the 26-week period ended August 4. Comparable store sales increased 2.4% and net income was $14.2 million compared with $14.9 million.
Chairman and chief executive officer, Mickey Newsome, said: “Performance footwear and apparel were key to our sales growth. While we are aware that the economic stimulus package aided our results in the second quarter, we also believe that our systems investments from a year ago are beginning to positively impact our sales.”
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