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Article Date: August 2019
Word Count: 544

Hibbett Loss Expands on Shifting Sales Patterns in Q2


The net loss grew to $8,778,000 over $1,222,000 for the second quarter ending Aug. 3, as revenue was up 20% to $252,440,000 from $211,123,000 and comparable store sales increased 0.3%. City Gear contributed $42.1 million to the top line, though comps will not include City Gear sales until Q4 FY2020. HIBB faced two headwinds during Q2, first with a change in the launch calendar which impacted the quarter but is not expected to negatively impact full year results. Secondly, the company has experienced continued volatility in later school starts dates, paired with shoppers waiting to make back to school purchases. ... Log in to view full article.

 


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