Brief: Hibbett Reports First Quarter Results

Hibbett

27/05/2022 11:33

May 27 (Reuters) - Hibbett Inc  HIBB.O :
    * HIBBETT REPORTS FIRST QUARTER RESULTS
    * Q1 SAME STORE SALES FELL 18.9 PERCENT
    * SEES FY EARNINGS PER SHARE $9.75 TO $10.50
    * Q1 EARNINGS PER SHARE $2.89
    * Q1 SALES FELL 16.3 PERCENT TO $424.1 MILLION
    * SUPPLY CHAIN DISRUPTION WE EXPERIENCED AT END OF LAST YEAR
HAS
IMPROVED
    * OUR CURRENT INVENTORY POSITION IS STRONG AND CONSISTENT
WITH OUR
FORECAST
    * EXPECT TO FACE A NUMBER OF BUSINESS AND ECONOMIC
CHALLENGES IN
52-WEEK FISCAL YEAR ENDING JANUARY 28, 2023
    * REITERATING OUR PREVIOUS FINANCIAL GUIDANCE FOR FISCAL
2023
    * SEES FY TOTAL NET SALES ARE EXPECTED TO BE RELATIVELY FLAT
IN
DOLLARS COMPARED TO OUR FISCAL 2022 RESULTS
    * FY2023 EARNINGS PER SHARE VIEW $9.74, REVENUE VIEW $1.66
BILLION
-- REFINITIV IBES DATA
    * Q1 EARNINGS PER SHARE VIEW $3.09, REVENUE VIEW $427.7
MILLION --
REFINITIV IBES DATA

Source text for Eikon:  ID:nBw8lbXqra 
Further company coverage:  HIBB.O 

 ((reuters.briefs@thomsonreuters.com;))