Net income fell 26% in the fourth quarter to $17,659,000 from $23,932,000 on total revenues of $383,348,000, up 2% from $376,830,000 the year before, with a 1.0% comp decline lapping a 21.9% increase prior. The results were in-line with HIBB’s pre-announcement two weeks ago, with a strong start to the quarter falling off by Christmas. Sales were impacted by rising fuel, food and housing costs, which reduces consumers’ disposable income; the lack of government stimulus payments; an outbreak of Omicron cases; and product shortages in footwear. Brick-and-mortar comps decreased 1.6% and e-commerce sales increased 1.8%, with digital now representing 17.1% ... Log in to view full article.