** charts before earnings **
** charts after earnings **
Hibbett Sporting misses by $0.08, reports revs in-line; guides FY17 EPS below consensus :
- Reports Q3 (Oct) earnings of $0.66 per share, $0.08 worse than the Capital IQ Consensus of $0.74; revenues rose 3.8% year/year to $237 mln vs the $237.17 mln Capital IQ Consensus.
- Comparable Store Sales Increase 0.7%, with continued high single-digit comps in footwear
- Gross profit was 35.4% of net sales for the 13-week period ended October 29, 2016, compared with 36.1% for the 13-week period ended October 31, 2015. The decrease was mainly due to markdowns taken to reduce inventory, a negative effect of product mix resulting from soft sales in seasonal apparel, and de-leverage of logistics and store occupancy expenses associated with lower comparable store sales.
- Co issues downside guidance for FY17, sees EPS of $2.82-2.88 vs. $3.00 Capital IQ Consensus Estimate, down from a previously reported range of $2.93 to $3.02.
- Additionally, merchandise margin is expected to be relatively flat compared with a previously reported expectation of flat to slightly positive versus the prior year.
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