Hibbett Q4 Profit Misses Estimates; Comps. Down 1.0%

(RTTNews) - Hibbett, Inc. (HIBB) reported net income of $17.7 million, or $1.25 per share for the 13-weeks ended January 29, 2022, compared to adjusted net income of $24.1 million, or $1.40 per share for the 13-weeks ended January 30, 2021. On average, six analysts polled by Thomson Reuters expected the company to report profit per share of $1.35, for the quarter. Analysts' estimates typically exclude special items.

Net sales for the 13-weeks ended January 29, 2022, increased 1.7% to $383.3 million. Compared to the 13-weeks ended January 30, 2021, comparable sales decreased 1.0%. Analysts on average had estimated $383.72 million in revenue.

For fiscal 2023, the company expects earnings per share to be in the range of $9.75 - $10.50. Total net sales are expected to be relatively flat in dollars. Comparable sales are expected to be in the negative low-single digits for the full year. The company noted that its non-GAAP results are not expected to materially differ from GAAP results.

Shares of Hibbett were down 10% in pre-market trade on Friday.