Hibbett jumps after raising full-year sales outlook

Hibbett

25/08/2022 17:39

** Shares of athletic clothing and sporting goods retailer
Hibbett Inc  HIBB.O  up ~7% at $61.14 
    ** HIBB lifts its annual comparable sales forecast,
encouraged by resilient demand for top brands at its stores
    ** Co now sees comparable sales in the range of flat to
positive low-single digits for fiscal 2023, vs prior estimate
for negative low-single digits 
    ** HIBB's Q2 sales, however, fall 6.3% with co saying some
of its back-to-school sales shifted into Q3 as consumers delayed
shopping until closer to school start dates
    ** HIBB shares down ~15% YTD

 (Reporting by Deborah Sophia in Bengaluru)
 ((DeborahMary.Sophia@thomsonreuters.com;))