HIBB, which ended its FY with 549 stores, said it was ableto reach the top end of guidance on stronger-than-planned product margins.Footwear and activewear drove same store sales as net income came in at$9,895,000 against $8,130,000 for the period ended Jan. 28. Total sales grew13% to $120,827,000 from $107,081,000. Gross margins improved 100 basis pointsto 33.7%.

For the full year, the chain’s comparable store salesincreased 5.6%, Net income was 34% higher at $33,624,000 versus $25,147,000 astotal sales rose 17% to $440,269,000 from $377,534,000. Annual gross marginswere 100 basis points higher at 33.4%. Hibbett’s current Q1 calls for a 2-4%comparable ... Log in to view full article.