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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. -
VF Corp.’s profits climb, raises outlook
Strong performance across its largest global brands, digital and international divisions lifted VF Corp.'s profits in the second quarter. For the quarter ended July 1, VF Corp.’s revenue increased 2% to $2.4 billion, surpassing the Zacks Consensus Estimate of $2.289 million. While earnings per share dropped 11% to 29 cents, this still beat analyst expectations of 28 cents. The company’s direct-to-consumer division’s revenue increased 13%. Digital revenue jumped by 34%.

