Hibbett’s Annual Sales Show Modest Growth at Year’s End

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Sales for the fiscal year 2024, which ended on February 3, were up 1.2% to $1.73 billion, according to an announcement made by Hibbett on Friday.



An rise of 6.9% in e-commerce sales drove the 1.8% gain in sales to $466.6 million for the fourth quarter for the Birmingham-based company. Within that 13-week time frame, comparable sales fell 6.4% and brick-and-mortar comparable sales fell 9.2%.

In addition, net income fell from $38.4 million, or $2.91 per diluted share, to $30.9 million, or $2.55 per diluted share.

The company’s president and chief executive officer, Mike Longo, expressed his satisfaction with the outstanding financial performance reported for the fourth quarter of fiscal 2024. He attributed the success to the company’s sustained execution of plan despite the dynamic and challenging retail environment.

Notably, Hibbett set a new full fiscal year record with revenues of $1.73 billion at the end of the year. Consistent with our predictions, our sales performance during the fourth quarter mirrored the hectic holiday shopping season. New product introductions and positive consumer feedback for our well-known shoe brands also contributed to our success throughout the quarter. We also saw an uptick in sales across all retail channels in the fourth quarter thanks to our combined Hibbett Rewards X Nike Membership program, which unites the two loyalty programs. Thanks to this loyalty arrangement, our Connected members will have access to exclusive shopping experiences, tailored content, and early product debuts.

For fiscal year 2025, analysts predict that the company’s comparable sales will be flat to down in the low single digits, with a similar trend for brick and mortar sales. The business went on to say that they expect e-commerce sales, both overall and in comparison to last year, to rise by double digits.


Ethan Sullivan

Ethan's penchant for the pulse of the fashion world extends to covering lifestyle topics, offering readers a seamless blend of the latest style updates and lifestyle trends.

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