3 Takeaways From Hibbett Sports' Q3 Earnings
On Nov. 20, Hibbett Sports (NASDAQ: HIBB) reported third-quarter adjusted earnings per share of $1.45 on revenue of $331.4 million, above consensus estimates of $0.45 on $286.4 million. Results were much better than expected, driven by strong omnichannel performance, new customer retention, and well-executed merchandising that provided in-demand products.
While some retailers are managing a slow recovery from COVID-19-related store closures and restrictions earlier this year, Hibbett Sports has benefitted from being in a retail sweet spot related to its sporting goods and athletic gear merchandise. Consumers for much of 2020 have been spending more on sporting goods and athletic casual wear as entertainment and travel options have been limited.
Can the company continue to benefit? Does it have a plan for after COVID-19 effects recede? Here are three takeaways from that latest earnings report that provide a more detailed look at how Hibbett plans to keep its growth going.
Source Fool.com
