Hibbett Sports, Inc., together with its subsidiaries, operates athletic specialty stores. Its stores offer a range of merchandise, including athletic footwear, athletic and fashion apparel, sports equipment, and related accessories.
On Friday Hibbett Sports reported fourth quarter earnings which handsomely beat estimates. On the news the stock rose more than 20%.
Management noted that a major part of the strong quarter was, indeed, a strong e-commerce revenue segment.
“We are quite pleased with the fourth-quarter results, which were driven by significant progress on our strategic initiatives along with compelling assortments from our key vendors,” said Jeff Rosenthal, president and CEO. “Our omni-channel initiative continues to deliver strong results, with online sales increasing 60% to 10.6% of total sales in the quarter.”
It appears Hibbett Sports is not only focused, but executing and Dick’s Sporting Goods should take some notes. Although Dick’s beat quarterly estimates a week ago, they gave a dismal outlook.
I think Dick’s future doesn’t look great. Stack is talking about filling their shelves with fresh items. Maybe I should show Stack the picture below and introduce Stack to Amazon because store/mall traffic is declining, Retail Apocalypse is real and only those brick and mortar stores that have a serious online presence have a chance at survival.
Apparently Hibbett Sports got the message. The company forecasted $1.80 to $2 per share for the year which is ahead of analyst estimates for about $1.75 per share in earnings. The chart suggests there is further upside to the weekly supply at $30.
This post is my personal opinion. I’m not a financial advisor, this isn’t financial advise. Do your own research before making investment decisions.