HIBB - Why Athletic-Inspired Fashion Retailer Hibbett's Shares Are Plunging Today | Benzinga
Hibbett Inc (NASDAQ:HIBB) shares are trading lower after the company reported fourth-quarter FY24 sales growth of 1.8% year-on-year to $466.59 million, missing the analyst consensus estimate of $477.49 million.
Comparable sales decreased 6.4%. Brick and mortar comparable sales declined 9.2%, while e-commerce increased 6.9% on a year-over-year basis, excluding the impact of the 53rd week.
EPS of $2.55 missed the consensus estimate of $2.56.
Gross margin contracted 70 basis points Y/Y to 34.5%. The operating margin contracted from 11.1% to 8.7%, and operating income for the quarter slumped ...