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Hibbett Sports Management Discusses Q2 2013 Results - Earnings Call Transcript

Stocks in this article: HIBB

The Hibbett strategy has continued its success, as evidenced by achieving 11 consecutive quarters of comparable store increases. With our investments in our future and the dedication of our employees, we expect to grow for years to come.

Michael J. Newsome

Thank you, Jeff. Next, our Senior Vice President of Merchandise and Marketing will speak with you, Becky Jones.

Rebecca A. Jones

Good morning. Sales trends in the second quarter were driven by double-digit comps in accessories and high-single digit comps in branded and licensed apparel. Our footwear categories performed at a healthy mid-single digit comp, while equipment categories were flat to down slightly.

In branded apparel, bright colored tees and shorts drove top line results in all genders. Under Armour performed very well in all genders and categories. Nike also had a good quarter, with Nike Compression being particularly good. Adidas is experiencing strong growth in the men's and boys' apparel categories. Fashion men's product has been good all year, with Jordan and Adidas Originals driving results. The NBA championship series with Oklahoma City and the Miami Heat contributed to the overall performance of licensed apparel. Our headwear continues to be on a strong trend as well.

The accessory business continues to perform, with sunglasses and socks being the items of choice. We continue to experience high demand for the Elite sock in Nike. Under Armour accessories have been good, and that trend has continued into the third quarter, with backpacks doing quite well.

The running categories across all genders and sizes was the highlight in the footwear area. Nike Free was the top performer. We were quite pleased with the performance of the Under Armour product that landed late in the second quarter. And our sandal business continued to do well on the second quarter, too. Jordan is in high demand, and Retro Jordans are driving traffic. Adidas Originals continues to also pick up market share in our stores.

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