In what may be its last quarterly report as a public company, Hibbett Q1 profits fell 9% to $32,500,000 from $35,875,000 on 2% lower revenues of $447,163,000 against $455,497,000 that included a -5.8% comp. Both stores and e-commerce sales comped down 5.8%, in what management called a very challenging athletic footwear and apparel retail market. Online sales accounted for 13.4% of the total, compared to 13.7% a year ago. HIBB did not hold a conference call, and provided no category detail on the quarter’s results.

Gross margin expanded by 210 basis points ... Log in to view full article.