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Hibbett Sports Q2 net sales increased 3.9%

Staff Writer | August 20, 2016
Hibbett Sports announced results for the second quarter ended July 30, 2016. Net sales increased 3.9% to $206.9 million compared with $199.3 million for Q2 2015.
Hibbett Sports
Hibbett Sports   Comparable store sales increased 0.8%
Comparable store sales increased 0.8%. Gross profit was 33.0% of net sales for the 13-week period ended July 30, 2016, compared with 32.7% for the 13-week period ended August 1, 2015.

The increase was mainly due to an improvement in the Company’s merchandise margin rate.

Store operating, selling and administrative expenses were 25.9% of net sales for the 13-week period ended July 30, 2016, compared with 25.2% of net sales for the 13-week period ended August 1, 2015.

These expenses were higher as a percentage of net sales due to additional expenses related to the Company’s omni-channel initiative and lower comparable store sales.

Net income for the 13-week period ended July 30, 2016, was $6.5 million compared with $7.0 million for the 13-week period ended August 1, 2015. Earnings per diluted share was $0.29 for the 13-week period ended July 30, 2016, compared with $0.28 for the 13-week period ended August 1, 2015.


 

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