Hibbett Sports Updates FY18 Guidance - Quick Facts

(RTTNews) - Hibbett Sports, Inc. (HIBB) announced, for fiscal 2018, the company now expects earnings per share in the range of $2.35 to $2.55, compared with previous guidance of $2.65 to $2.85. Comparable store sales are expected in the range of negative 1.0% to positive 1.0%, compared with previous guidance of an increase in the low single-digit range.

Net income for the 13-week period ended April 29, 2017, was $20.9 million compared to $27.9 million, prior year. Earnings per share was $0.97 compared to $1.22.

Net sales for the 13-week period ended April 29, 2017, decreased 2.3% to $275.7 million compared with $282.1 million, last year. Comparable store sales decreased 4.9%.

Jeff Rosenthal, CEO, said, "After a double-digit decline in comparable store sales in February, trends improved in March and April with comparable store sales in the positive low to mid-single-digit range. However, the sales shortfall in February was not fully offset, which led to a 4.9% decline in comparable store sales for the quarter."