** charts before earnings **
** charts after earnings **
Hibbett Sporting beats by $0.05, misses on revs; lowers FY18 EPS and comp guidance; Q2 comps -11.7%
- Reports Q2 (Jul) loss of $0.15 per share, excluding non-recurring items, $0.05 better than the Capital IQ Consensus of ($0.20); revenues fell 9.1% year/year to $188 mln vs the $190.31 mln Capital IQ Consensus. Comparable store sales decreased 11.7%. Gross margin was 28.9% of net sales for the 13-week period ended July 29, 2017, compared with 33.0% for the 13-week period ended July 30, 2016.
- Co issues downside guidance for FY18, sees EPS of $1.25-1.35 vs. $1.71 Capital IQ Consensus Estimate; Co sees FY18 Comparable store sales in the negative mid to high single-digit range, which compares with previous guidance in the range of negative 1.0% to positive 1.0%. The Company is updating its guidance for Fiscal 2018 based on the following assumptions: Continued soft sales for the remainder of the year due to a challenging retail environment. A growing contribution of e-commerce sales, especially during the holiday season. Gross margin pressure due to the promotional environment in our industry, the ramp-up of our e-commerce sales, and markdowns needed to reduce aged inventory. Continued tight expense controls while maintaining adequate store staffing levels.
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