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Hibbett Sports net income drops in Q4, sales climb
Birmingham, Ala. – Net income and sales declined at Hibbett Sports Inc. during the fourth quarter of fiscal 2013. Net income dropped 13% from $19.6 million in the fourth quarter of the prior fiscal year to $16.4 million, while net sales inched upward 0.2% to $217.8 million from $217.4 million.
Same-store sales rose 1.7% during the quarter. Hibbett Sports cited slowing sales in January due to inclement weather and a less favorable sales impact from the national college football championship game as impacting net income.
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Hhgregg launches March Madness event
To celebrate the start of the men’s and women’s college basketball tournament, appliance and electronics retailer Hhgregg is kicking off its March into Hhgregg event,”which will award more than $50,000 in prizes from LG Electronics.
From now through April 7, Hhgregg shoppers can enter daily online, via smartphone, on Facebook and in-store. Winners will be selected instantly, weekly, and one grand prize winner will be selected on April 8.