** charts before earnings **
** charts after earnings **
Hibbett Sporting beats by $0.01, misses on revs; narrows FY17 EPS; raises margin guidance slightly :
- 37.Reports Q2 (Jul) earnings of $0.29 per share, $0.01 better than the Capital IQ Consensus of $0.28; revenues rose 3.8% year/year to $206.9 mln vs the $209.39 mln Capital IQ Consensus.
- Comparable store sales increased 0.8% vs. ests just below +2%.
- Gross profit was 33.0% of net sales for the 13-week period ended July 30, 2016, compared with 32.7% for the 13-week period ended August 1, 2015. The increase was mainly due to an improvement in the Company's merchandise margin rate.
- Co issues in-line guidance for FY17, narrows EPS to $2.93-3.02 from $2.90-3.04, excluding non-recurring items, vs. $2.98 Capital IQ Consensus; merchandise margin is expected to be flat to slightly positive compared to a previously reported expectation of relatively flat versus the prior year.
- "We were pleased with our overall results and are encouraged by the progress on our major initiatives. Footwear continues to show significant strength, driven by our differentiated assortment and continued improvement in allocation and in-stock position. We also continue to see improvement in our merchandise margin rate, driven by improved systems and promotional management. Looking forward, we feel we are well positioned for our back-to-school season with our product assortments and early deliveries of merchandise for this important period."
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