Hibbett Sports profit leaps 27% in Q4, to open 40 net new stores

Birmingham, Ala. -- Hibbett Sports Inc. reported Friday that profit for the quarter ended Jan. 28 jumped 27% to $15.8 million, compared with $12.5 million in the year-ago period.
 
Revenue increased 10% to $190.7 million from $173.2 million, missing Wall Street’s expected $192.2 million in revenue. Same-store sales rose 7.2%.

For the full year, Hibbett reported net income of $59.1 million, up from $46.4 million last year. Revenue rose to $732.6 million, from $665 million.

The sporting goods retailer said it plans to open 55 to 60 new stores in fiscal 2013, to expand 15 high-performing stores and close as many as 18 stores during the year.
 

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