Sportswear retailer Hibbet down after annual forecast below estimates

Hibbett

15/03/2024 11:38

** Shares of sportswear retailer Hibbett  HIBB.O  down 13.7%
at $63.00 premarket
    ** Co expects fiscal 2025 diluted EPS between $8.00 to
$8.75, below the LSEG estimate of $8.82 per share
    ** HIBB expects 2025 total sales to be between flat and up
to 2%, compared with the LSEG estimate of a 3.8% growth
    ** Co reported Q4 net sales of $466.6 mln, missing the LSEG
estimate of $477.5 mln
     ** Co says it plans to continue to make "significant"
investments in fiscal 2025, which will impact short-term
profitability
    ** In 2023, shares rose ~5%

 (Reporting by Juveria Tabassum in Bengaluru)
 ((Juveria.Tabassum@thomsonreuters.com;))