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Article Date: March 2021
Word Count: 629

Hibbett Posts Big Sales, Profit Gains in Q4

The bottom line quadrupled in Q4 ended Jan. 30 to $23,932,000 against $6,001,000 on 20% higher sales of $376,830,000 up from $313,024,000, that included a +21.9% blended comp lapping last year’s 4.0% improvement. Last year’s profit included about $3 million in costs net of taxes related to the City Gear acquisition. Gross margin jumped 550 basis points to 37.1% driven by higher sell through, lower level of promotions, and store occupancy leverage, though fulfilling the increased e-commerce sales was a headwind. SG&A was up 20% on higher compensation, advertising and variable sales expenses, as well as costs to close underperforming ... Log in to view full article.


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