Why Hibbett Sports, Inc. Stock Plummeted Today
Shares of Hibbett Sports Inc. (NASDAQ: HIBB) were down nearly 32% as of 3:15 p.m. EDT Monday after the sporting-goods retailer announced disappointing preliminary second-quarter results.
More specifically, Hibbett anticipates comparable-store sales will decline 10% year over year for the quarter -- in contrast to the company's latest guidance for full-year comps to increase in the low-single-digit range -- due to "very challenging sales trends." On the bottom line, that should translate to a loss per share in the range of $0.19 to $0.22.
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Source: Fool.com