Net income declined 10% in the final quarter to $6,001,000 from $6,634,000 as revenues inched up 2% to $313,024,000 from $305,964,000 including a 4.0% increase in comp store sales over last year’s 3.8% comp gain. Comps in Q4 now include City Gear stores for the first time. E-commerce continues to grow, representing 14.2% of sales in the fourth quarter. First-quarter-to-date comps were positive through mid-March, before turning downward an unspecified amount in the last week as Covid-19 awareness ramped up.
Most Hibbett and City Gear stores are remaining open, with reduced hours and reduced staffing, but about 100 stores are closed ... Log in to view full article.