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By
Reuters
Published
Nov 18, 2011
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Hibbett Q3 beats estimates; ups FY profit view

By
Reuters
Published
Nov 18, 2011

Hibbett Sports Inc's quarterly profit beat market expectations, helped by strong footwear and apparel sales.

The sportswear and shoes retailer also raised its full-year profit forecast as it prepares for an optimistic holiday season.

KEY POINTS: Q3 2011 I/B/E/S Q3 2010

Revenue $185.2 mln $179.9 mln $167.4 mln

Net income $16.0 mln n/a $12.6 mln

GAAP EPS $0.59 $0.51 $0.44

* Sees FY12 EPS $2.05-$2.11 vs prev outlook $1.90-$2.00

* Same-store sales rose 7 percent

* Hibbett opened 16 new stores for the third quarter

MARKET REACTION / COMMENTARY:

* Shares of Birmingham, Alabama-based Hibbett closed at $43.14 on Thursday on Nasdaq. (Reporting by Meenakshi Iyer in Bangalore; Editing by Maju Samuel)

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