Home / Knowledge / News / Apparel/Garments / Hibbett's Q4 and fiscal EPS increases over 34%
Hibbett's Q4 and fiscal EPS increases over 34%
13
Mar '12
Hibbett Sports Inc, a sporting goods retailer, announced results for the fourth quarter and fiscal year ended January 28, 2012.

Net sales for the 13-week period ended January 28, 2012; increased 10.1% to $190.7 million compared with $173.2 million for the 13-week period ended January 29, 2011. Comparable store sales increased 7.2%.

Net income for the 13-week period ended January 28, 2012; increased 27.0% to $15.8 million compared with $12.5 million for the 13-week period ended January 29, 2011. Earnings per diluted share increased 34.1% to $0.59 compared with $0.44 for the 13-week period ended January 29, 2011.

Net sales for the 52-week fiscal year ended January 28, 2012; increased 10.2% to $732.6 million compared with $665.0 million for the 52-week period ended January 29, 2011. Comparable store sales increased 6.8%. Net income for Fiscal 2012, increased 27.3% to $59.1 million compared with $46.4 million for Fiscal 2011. Earnings per diluted share increased 34.4% to $2.15 compared with $1.60 for the 52-week period ended January 29, 2011.

Jeff Rosenthal, President and Chief Executive Officer, stated, “We are pleased with our continued strong performance, sustained margin expansion and exceptional cost management. Fiscal 2012 was another great year of growth, and we are off to a fast start in the first quarter of Fiscal 2013 with an even stronger sales trend."

"We would like to thank all of our hard working associates for their efforts in helping us deliver these results for our shareholders.”

For the quarter, Hibbett opened 21 new stores, expanded 2 high performing stores and closed 4 underperforming stores, bringing the store base to 832 in 26 states as of January 28, 2012. For Fiscal 2012, the Company opened 52 new stores, expanded 15 high performing stores and closed 18 underperforming stores.

Hibbett ended Fiscal 2012 with $55.1 million of available cash and cash equivalents on the consolidated balance sheet, no bank debt outstanding and full availability under its $80.0 million unsecured credit facilities.

During the fourth quarter, the Company repurchased 225,170 shares of common stock for a total expenditure of $10.1 million. Approximately $144.7 million of the current $250.0 million authorization remains for future stock repurchases.

The Company anticipates its earnings for the 53-week period ending February 2, 2013, to be within a range of $2.35 to $2.55 per diluted share (which includes an expected contribution of $0.07 to $0.09 per diluted share from the 53rd week) and comparable store sales to increase in the low to mid single digit range.

For Fiscal 2013, the Company expects to open 55 to 60 new stores, expand approximately 15 high performing stores and close up to 18 stores.

Hibbett Sports, Inc. operates sporting goods stores in small to mid-sized markets, predominately in the Southeast, Southwest, Mid-Atlantic and the lowerMidwest regions of the United States.

Hibbett Sports Inc


Must ReadView All

Indian govt approves special package for leather, footwear

Textiles | On 16th Dec 2017

Indian govt approves special package for leather, footwear

The Union Cabinet chaired by PM Narendra Modi has approved a special...

EU parliament resolution calls for Cambodia sanctions

Apparel/Garments | On 16th Dec 2017

EU parliament resolution calls for Cambodia sanctions

Following the ongoing crackdown in Cambodia on the opposition and...

Affordable prices to be hit if US pulls out of NAFTA: NRF

Apparel/Garments | On 16th Dec 2017

Affordable prices to be hit if US pulls out of NAFTA: NRF

US retailers’ ability to offer consumers quality products at...

Interviews View All

Anvita Mehra
Confidential Couture

‘It is going to take some time for Indian buyers to get accustomed to...

Victor Chao
Esmetex

‘In future, clothing boundary lines will become increasingly blurred.’

Cyril Pereira
Reed Exhibitions India, organiser of Asian Machine Tool Exhibition 2016

'Major problem in the textile machinery manufacturing industry is the lack ...

Rikesh Mistry

Jupiter Comtex Pvt Ltd, established in 1973, started its textile machinery ...

Erik Sy

Manila-based CustomThread is a start-up offering premium custom apparel...

Vikas Banduke

Softech Controls Private Limited (SCPL) is a part of the Cotmac Group, an...

Mark Paterson
Technical Absorbents Ltd

Mark Paterson, R&D manager of Technical Absorbents Ltd talks about Super...

Kevin Nelson
TissueGen

Kevin Nelson, Chief Scientific Officer, TissueGen discusses the growing...

Steve Cole
Xerium Technologies

Steve Cole of Xerium Technologies discusses the industry. Xerium is the...

Amiben Shroff
Shrujan

From its modest beginning in the late 1960s, Shrujan has grown into a...

Sonam & Paras Modi
SVA

Sonam and Paras Modi's Sva Couture is synonymous with head-turning...

Sanjukta Dutta
Sanjukta's Studio

<b>Sanjukta Dutta</b> creates unique garments by clubbing prints of...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

December 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Planning to Take the Leap towards
Sustainability?

Do you see sustainability as a route to business growth?

Yes No

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes No

Active Poll

Do you see sustainability as a route to business growth?

Yes
69.6%
No
12.0%
Skip
18.5%

Total Votes: 92

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes No

Active Poll

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes
62.0%
No
30.4%
Skip
7.6%

Total Votes: 92

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes No

Active Poll

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes
87.0%
No
9.8%
Skip
3.3%

Total Votes: 92

Thanks for your valuable feedback. Claim your free latest sustainability e-book.

Active Poll

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes
81.5%
No
8.7%
Skip
9.8%

Total Votes: 92


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search