Net income declined 19% to $9,733,000 from $12,055,000 in the 14-week final quarter on 8% higher revenues at $266,738,000 vs. $246,929,000 boosted by $20.3 million from its nascent e-commerce business as 13-week comparable store sales were up 1.6%. Net results benefitted from a $3.1 million gain on the sale of the Team division, partially offset by a $0.9 million reserve taken on team inventory. Gross margin contracted 153 basis points to 31.5% on 272 b.p. lower product margins due to promotions and markdowns partially offset by lower logistics and store occupancy costs. HIBB opened 12 new stores in Q4, expanded ... Log in to view full article.