Hibbett recorded a $40,355,000 profit in the second quarter ended Aug, 1 against a loss of $8,778,000 last year on revenues that soared 75% to $441,607,000 from $252,440,000 including a +79.2% comp sales gain. E-commerce sales jumped higher, as many other retailers have reported, gaining 212.2%, but brick-and-mortar comps were also up an astonishing 65.2%. Digital sales accounted for 15.7% of the total in Q2, up from 8.6%. Pent-up consumer demand was the main sales driver, boosted by government stimulus money and less competition from other retailers that were temporarily, or in some cases permanently, closed.
Footwear comped up in the ... Log in to view full article.