Why Hibbett Sports Stock Jumped 12% in December

Shares of sporting goods retailer Hibbett Sports (NASDAQ: HIBB) rose 12% in December, according to data from S&P Global Market Intelligence. That capped a strong year for the stock, which rose roughly 65% in 2020. There was no dramatic news in December, but the retailer did file its quarterly earnings report with the Securities and Exchange Commission. It was good reading.

To be precise, Hibbett reported earnings in late November. So the news of its results wasn't new in December, but its SEC filing filled out what was a very good story.

To put some numbers on that, sales increased 20% year over year in the third quarter. Gross margin improved by 5.6 percentage points. And earnings exploded higher, hitting $1.47 per share compared to just $0.13 in the year-earlier period.

Source Fool.com