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.



“Despite the difficult retail environment, the company remains focused on improving its business for the long term,” said Jeff Rosenthal, president and CEO.



One of the projects that will help the retailer compete going forward is the launch of its new e-commerce site. In addition to an expansive assortment of footwear, apparel and equipment, a user-friendly experience and robust content, including 360-degree images and video, the new site also features a launch calendar for shoppers to track new shoe releases; a product finder and access to the Hibbett Rewards loyalty program.



Other services include True Fit, a solution that enables customers to identify and save their proper sizes for future shoe or apparel purchases; automated product recommendations, and shopping guides. Streamlined checkout options, including Apple Pay and PayPal, and free shipping and in-store returns round out the online offering.



“Launching an e-commerce site has been a key strategic goal for Hibbett, and we took time to invest in our omnichannel infrastructure to do it the right way,” Rosenthal said. “Our main objective is to provide a seamless shopping experience for our customers with a platform that will allow us to significantly expand our assortment over time.”