Why Hibbett Sports, Inc. Stock Fell on Friday
After Hibbett Sports (NASDAQ: HIBB) reported its second-quarter results for fiscal 2018, shares took a dive on Friday, falling as much as 18.3%. The stock is down about 6.7% at the time of this writing. The stock's decline reflects worse-than-expected results and lowered guidance amid a challenging retail environment.
"We experienced a very difficult retail environment in the quarter, with a significant decline in transactions and resulting pressure on gross margin," said Hibbett CEO Jeff Rosenthal.
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Source: Fool.com
