Hibbett jumps after topping Q2 profit estimates

Hibbett

25/08/2023 16:35

(Updates)
    ** Shares of athletic clothing and sporting goods retailer
Hibbett  HIBB.O  up ~20% at $44.21 in morning trade
    ** Stock set to gain after four straight sessions of losses,
on pace to log its biggest one-day pct. rise since March 2020
    ** HIBB tops estimates for Q2 profit, boosted by new product
launches and a strong start to the back-to-school season
    ** Reports Q2 EPS of 85 cents, vs. analyst estimate of 74
cents - Refinitiv 
    ** HIBB says its footwear sales, particularly popular
premium brands, have remained more consistent even as demand for
apparels softened
    ** Maintains annual sales and profit forecasts 
    ** HIBB fell ~6% on Thursday and Wednesday following
forecast cuts from peers Foot Locker  FL.N  and Dick's Sporting
Goods  DKS.N 
    ** Including session's move, HIBB down ~34% YTD

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