Backed by strong sales growth coupled with operational
Hibbett Sports, Inc.'s
) earnings of $0.30 per share for second-quarter fiscal 2013 surged
42.9% from the prior-year quarter, beating the Zacks Consensus
Estimate of $0.27. Buoyed by better-than-expected results, the
company raised its expectations for fiscal 2013.
The company now forecasts earnings in the range of $2.57-$2.67 per
share, up from $2.50-$2.65 forecasted earlier. Management also
remains committed to expand its store network by 55 to 60 new
stores in fiscal 2013. Moreover, Hibbett's sharp focus on mid-sized
and smaller markets and strategic mix of branded as well as
localized merchandise provide it with an edge over its competition.
The company has a healthy balance sheet with no debt. Currently, we
are maintaining a long-term Outperform recommendation on the stock.
HIBBET SPORTS (HIBB): Free Stock Analysis
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