** charts before earnings **
** charts after earnings **
Hibbett Sporting beats by $0.15, beats on revs; Q3 comps -1.3%; raises FY18 EPS and comp guidance
- Reports Q3 (Oct) earnings of $0.37 per share, excluding non-recurring items, $0.15 better thanthe Capital IQ Consensus of $0.22; revenues rose 0.3% year/year to $237.8 mln vs the $219.38 mln Capital IQ Consensus.
- Comparable store sales decreased 1.3%. Gross margin was 32.0% of net sales for the 13-week period ended October 28, 2017, compared with 35.4% for the 13-week period ended October 29, 2016.
- "We were very pleased with the results for the quarter.Sales in equipment and accessories remained soft, but were offset by positive comparable store sales in footwear and significant improvement in branded apparel. Our e-commerce sales exceeded even our high expectations, as we experienced good response from early marketing initiatives and strong conversion from online traffic."
- Co issues raised guidance for FY18, sees EPS of $1.42-1.50 from $1.25-1.35, excluding non-recurring items, vs. $1.30 Capital IQ Consensus Estimate. FY18 Guidance: Comparable store sales in the negative mid-single-digit range, which compares with previous guidance in the negative mid to high single-digit range.
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