Footwear seller Hibbett Comp Store sales rise 3.1% in Q2

20 Aug '05

3 min read

Footwear, apparel and sports equipment seller Hibbett Sporting Goods Inc announced the results for the second quarter ended July 30, 2005.

- Earnings Per Share Increases 75.0%

- Comparable Store Sales Up 3.1%

- Raises Fiscal 2006 Guidance

- Declares 3-for-2 Stock Split

- Increases Stock Repurchase Authorization by $20.0 Million

Financial Highlights

- Net sales for the 13-week period ended July 30, 2005,
increased 15.0% to $94.0 million

- Comparable store sales increased 3.1% in the second quarter of fiscal 2006.

- Net income for the second fiscal quarter increased 66.9% to $4.9 million compared with restated net income of $2.9 million in the second fiscal quarter of last year.

- Earnings per diluted share increased 75.0% to $0.21 compared with restated diluted earnings per share of $0.12 in the prior year.

- Comparable store net sales data reflects sales for our Hibbett Sports and Sports Additions stores open through the 13-week period and the corresponding period of the prior fiscal year.

- Net sales for the 26-week period ended July 30, 2005, increased 17.1% to $208.8 million

- Comparable store sales increased 6.0% in the first half of fiscal 2006.

- Net income for the first half of fiscal 2006 increased 42.7% to $15.6 million

- Earnings per diluted share increased 48.9% to $0.67 compared with restated diluted earnings pershare of $0.45 in the prior year.

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