×
150
Fashion Jobs
PUMA
Manager- Returns And Spf Operations
Permanent · Bengaluru
TECHNOVALUE SOLUTIONS PVT. LTD
Senior Sales Engineer / Area Sales Manager
Permanent · Baddi
TOUCH MOBILES
Wanted Area Sales Manager - Touch Mobiles
Permanent · Khammam
OAKBRIDGE PUBLISHING PVT LTD
Area Sales Manager
Permanent · Pune
AVANTOR
sr. Account Manager- Lab Products
Permanent · Kolkata
ANTLIA FINTECH PRIVATE LIMITED
Area Sales Manager
Permanent · Prayagraj
EXTRAMARKS EDUCATION
Area Sales Manager- B2B
Permanent · Hyderabad
ERA UNIVERSITY (ERA EDUCATIONAL TRUST)
Production Manager- Lucknow
Permanent · Lucknow
RENOVATE BIOLOGICALS PVT LTD
Area Sales Manager
Permanent · Hyderabad
PEOPLE ALLIANCE WORKFORCE PRIVATE LIMITED
sr. Area Sales Manager / Territory Sales Manager - Fmcg Personal Care
Permanent · Purulia
MOTILAL OSWAL FINANCIAL SERVICES
Opening For Territory Manager B2B Sales - Mumbai
Permanent · Navi Mumbai
NAGA LIMITED
Manager - Production
Permanent · Dindigul
JIO
jc Home Lead - Coimbatore & Tiruppur - Sales Manager
Permanent · Tiruppur
AVANTOR
Area Sales Manager || Patna/Ranchi
Permanent · Ranchi
BDO INDIA LLP
Cnc Manager Production Manager Minimum 14 Yrs to 18 Yrs
Permanent · Chennai
KENT RO SYSTEMS
Corporate Sales Manager
Permanent · Chennai
AS
Opening For Production Manager in Leading Sweets Mfg Company
Permanent · Thane
CENTURY PLYBOARDS (I) LIMITED
Area Sales Manager - Ahmedabad
Permanent · Ahmedabad
SRL DIAGNOSTICS
Territory Development Manager
Permanent · Prayagraj
KISHOR EXPORTS
Qam - Quality Assurance Manager For Garment Exports Company
Permanent · Ranchi
JAYPEE BROTHERS MEDICAL PUBLISHERS PVT LTD.
Area Sales Manager
Permanent · Prayagraj
HDB FINANCIAL SERVICES
Sales Manager - Alternate Channel
Permanent · Salem
By
Reuters
Published
Aug 19, 2011
Reading time
2 minutes
Share
Download
Download the article
Print
Click here to print
Text size
aA+ aA-

Hibbett bucks trend, upbeat on back to school

By
Reuters
Published
Aug 19, 2011

August 19 - Hibbett Sports Inc's quarterly profit topped expectations on strong demand for its sportswear and shoes and the retailer said positive sales trends continued into the crucial back-to-school season.


Hibbett is a retail chain offering assortment of footwear, apparel and equipment.

The company, which is known for its small friendly neighbourhood stores, said it was "well-positioned" for the back-to-school season, the second largest selling season behind the holiday sales period at the end of the year.

All this prompted Hibbett to raise its full-year earnings forecast to $1.90-$2.00 a share from its prior outlook of $1.80-$1.95. Analysts, on average, were expecting earnings of $1.97 a share, according to Thomson Reuters I/B/E/S.

The company's upbeat outlook comes after the largest publicly traded U.S. sporting goods retailer, Dicks Sporting Goods Inc forecast a disappointing third quarter, raising fears over a slowdown in sales growth.

Hibbett's outlook also contrasts the glum view taken by many retailers as U.S. consumer sentiment dropped to its lowest point in more than three decades in early August, with the possibility of a double-dip recession, high unemployment and stagnant wages playing on the minds of many Americans.

The sporting goods arena, however, has generally fared a little better than others in U.S. retail.

Hibbett sells sporting goods, apparel and footwear under several well-known labels like Nike, Adidas, Reebok and Under Armour and likes to offer its customers product expertise to help them choose items.

Targeting smaller markets with fewer competitors has also seen Hibbett consistently grow sales over the past five years, even when the U.S. was engulfed by its worst recession since 1929.

The company, which operates over 800 stores primarily small ones in strip centers and malls mainly in Southern, Mid-Atlantic and lower Midwest U.S., grew sales by 12 percent last year on strong demand for branded gear and running shoes.

Hibbett also renewed its $30 million loan facility with Regions Bank. The facility is effective from Aug 25 and runs through Aug 24, 2012, it said in a regulatory filing.

For the second quarter ended July 30, the company earned $5.9 million, or 21 cents a share, topping market expectations by 2 cents.

Sales rose 10 percent to $153.1 million, edging past market expectations of $152.1 million. Same-store sales rose 5.9 percent for the quarter.

The Birmingham, Alabama-based company's shares have gained more than a quarter this year to close at $32.97 on Thursday on Nasdaq.

(Reporting by Chris Jonathan Peters in Bangalore; Editing by Viraj Nair)

© Thomson Reuters 2022 All rights reserved.