Why Hibbett Sports Stock Plunged 21% in August

Shares of Hibbett Sports (NASDAQ: HIBB) tumbled 21.2% last month, according to data from S&P Global Market Intelligence, as the sporting-goods chain continues to struggle with falling sales and mounting losses.

After falling 12% in April and 11% in May following ill-received first-quarter results, Hibbett's downturn accelerated when it reported another poor showing in the second quarter. The stock plummeted more than 30% in a single day in July after Hibbett shocked investors by preannouncing a 10% decline in Q2 comparable-store sales, brought about by "very challenging sales trends."

Many investors were caught off guard by Hibbett Sports' poor second-quarter results. Image source: Getty Images.

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Source: Fool.com