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Article Date: November 2020
Word Count: 559

Hibbett Explodes Higher in Third Quarter


The bottom line grew more than ten-fold in the third quarter to $25,266,000 up from $2,265,000 on a 20% increase in revenues to $331,383,000 against $275,475,000 including a +17.5% brick-and-mortar comp and 51% higher e-commerce sales. Digital now accounts for 13.2% of the total top line, up from 10.5% last year. HIBB is firing on all cylinders, with an increase in transactions and a higher average ticket in stores and online. Profitability was boosted by a gross margin that expanded 560 basis points to 38.3% on less discounting, better sell-through, and occupancy leverage, which more than offset e-commerce shipping costs. ... Log in to view full article.

 


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