Hibbett Sports Q4 Profit Down; Guides FY15 - Quick Facts

(RTTNews) - Sporting goods retailer Hibbett Sports Inc. (HIBB) announced results for the fourth quarter ended February 1, 2014. Net income for the 13-week period ended February 1, 2014 declined to $16.9 million from $19.4 million for the 14-week period ended February 2, 2013. Earnings per share were $0.64, compared with $0.73 last year. The 14th week in Fiscal 2013 added about $0.07 in earnings per share to the Fiscal 2013 quarterly and annual results.

Analysts polled by Thomson Reuters expected the company to report earnings of $0.70 per share for the quarter. Analysts' estimates typically exclude special items.

Net sales for the quarter increased 0.2% to $217.8 million from $217.4 million last year. Thirteen analysts estimated revenues of $221.33 million for the quarter. Comparable store sales increased 1.7% on a calendar basis (comparable 13-week period).

Looking ahead for fiscal 2015, the company expects earnings per share to be in the range of $2.78 to $2.98. Analysts project annual earnings per share of $3.05. It anticipates increase in comparable store sales in the low-to-mid single digit range. It expects about 75 to 80 new stores, 10 to 15 expansions and 15 to 20 closures.