Published Aug 25, 2023 09:45AM ET
© Reuters. Hibbett Sports (HIBB) tops 2Q earnings estimates but inflation weighs on discretionary spending
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Hibbett Sports (NASDAQ: ) shares surged in early Friday trading after topping earnings expectations for the second quarter.
The sporting goods company earnings of $0.85 per share, $0.11 better than the analyst estimate of $0.74. However, revenue for the quarter came in at $374.9 million, below the consensus estimate of $377.04M.
HIBB shares are currently up more than 20%, trading above the $44 per share mark.
Second-quarter comparable sales fell by 7.3% compared to the same quarter last year, while net sales were down 4.6% year-over-year.
“We are pleased with our performance for the second quarter of Fiscal 2024,
Hibbett Sports tops 2Q earnings estimates but inflation weighs on discretionary spending
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