Hibbett Sports Gets An Assist

Hibbett Sports reported a winning entertain after championship seasons for the University of Alabama and New Orleans Saints lead to tip and bottom line growth.On Friday shares strike a two-year high after the Birmingham, Ala. association reported a fourth-quarter distinction of $11.8 million, or 40 cents per share, up 54% from $7.6 million, or twenty-six cents per share in the year-ago period. emailprintreprintnewslettercommentssharedel.icio.usDigg It!yahooFacebookTwitterRedditrssforbes:http://www.forbes.com/2010/03/12/hibbett-sporting-goods-markets-equities-dicks-superbowl.html?partner=yahoobuzzSales for the entertain finished Jan. thirty strike $166.8 million, up 12.8% from $147.9 million in the fourth entertain of 2008. Sales at stores open at slightest one year, a key magnitude of sell performance, jumped 9.6%.According to Mickey Newsome, authority of Hibbett Sports ( HIBB - news - people ), rounded off one-third of the comparable-store sales enlarge came from heightened direct for University of Alabama and New Orleans Saints merchandise.On Wednesday Hibbett voiced that Newsome would step down from the arch senior manager post but sojourn senior manager chairman. He will be succeeded by Jeffrey Rosenthal, arch handling officer, in effect Monday, Mar 15.Hibbett kick estimates of analysts polled by Thomson Reuters, who likely benefit of 31 cents per share on sales of $154.7 million. On headlines of the kick shares of the sporting products tradesman jumped to $25.75, their top cost in over dual years, afterwards slid to a some-more medium benefit of 56 cents, or 2.3%, to $25.27 in midday trading.,,2010/03/12/hibbett-sporting-goods-markets-equities-dicks-superbowl.htmlIn 2009 Hibbett non-stop 42 new stores and sealed twenty existent ones, finale the year with a sum of 767 stores. For the full year of 2010 Hibbett says it expects to consequence in between $1.12 and $1.30 per share. Analysts are presaging benefit of $1.18 per share."All eyes are on guidance, as the association is experiencing accelerating certain trends quarter-to-date in the initial quarter," says JPMorgan Chase researcher Christopher Horves.On Tuesday Hibbett aspirant Dicks Sporting Goods ( DKS - news - people ) additionally reported a stellar fourth entertain on a same-store sales jump, new store openings and a new e-commerce operation. (See "Dicks Hits A Home Run.")
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