Hibbett Sports (NASDAQ: HIBB) reported second-quarter losses of 13 cents per share, which beat the analyst consensus estimate by 3 cents.
The company reported quarterly sales of $252.4 million, which missed the analyst consensus estimate of $255.86 million. This is a 19.55% increase over sales of $211.123 million the same period last year.
"Looking ahead, we expect a solid finish to the back-to-school season as well as momentum from strong product offerings in the back half of the year,” said CEO Jeff Rosenthal. “We are encouraged by City Gear's early performance as they enter the second half with a strong inventory position along with the planned migration to the Hibbett digital platform. Based on the strength of the first half and our confidence in the second half, we have updated our annual guidance."
Hibbett Sport shares were trading down 1.7% at $16.70 in Friday’s pre-market session. The stock has a 52-week high of $29.60 and a 52-week low of $13.08.
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