Athletic specialty retailer preps for disappointing Q2
Despite what is shaping up to be a rough second quarter, Hibbett Sports is making a move to streamline its operations.
Days before its second quarter ends on July 29, Hibbett Sports is blaming very challenging sales trends for an approximate 10% decrease in comparable store sales. The decline in sales, along with significant pressure on gross margin is expected to result in a loss of $0.19 to $0.22 per diluted share for the second quarter. The company will release its earnings on Aug. 18.