Backed by double-digit sales growth along with operational efficiencies, Hibbett Sporting Goods' (HIBB) earnings of $0.59 per share for fourth-quarter 2012 surged 34.1% from the prior-year quarter, beating the Zacks Consensus Estimate of $0.56. Bolstered by strong quarterly results, management expects fiscal 2013 earnings to be in the range of $2.35 to $2.55, up 9.3%-18.6% from the fiscal 2012 level.
Management also remains committed of expanding its store network by 55 to 60 new stores in fiscal 2013. Moreover, Hibbett's sharp focus on mid-sized and smaller markets and strategic mix of branded as well as localized merchandise provide an edge over its rivals.
In addition, the company has a healthy balance sheet with no debt. Currently, we maintain a long-term Outperform recommendation on the stock.
HIBBET SPORTS (HIBB): Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research