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Hibbett Reports Fourth Quarter And Fiscal 2014 Results

Hibbett Sports, Inc. (NASDAQ/GS: HIBB), a sporting goods retailer, today announced results for the fourth quarter and fiscal year ended February 1, 2014.

Fourth Quarter Results

Net sales for the 13-week period ended February 1, 2014, increased 0.2% to $217.8 million compared with $217.4 million for the 14-week period ended February 2, 2013. Comparable store sales increased 1.7% on a calendar basis (comparable 13-week period).

Gross profit was 35.8% of net sales for the 13-week period ended February 1, 2014, compared with 36.1% for the 14-week period ended February 2, 2013.

Store operating, selling and administrative expenses were 21.7% of net sales for the 13-week period ended February 1, 2014, compared with 20.3% of net sales for the 14-week period ended February 2, 2013.

Net income for the 13-week period ended February 1, 2014, was $16.9 million compared with $19.4 million for the 14-week period ended February 2, 2013. Earnings per diluted share were $0.64 for the 13-week period ended February 1, 2014, compared with $0.73 for the 14-week period ended February 2, 2013. The 14 th week in Fiscal 2013 added approximately $0.07 in earnings per diluted share to the Fiscal 2013 quarterly and annual results.

Fiscal 2014 Results

Net sales for the 52-week period ended February 1, 2014, increased 4.1% to $852.0 million compared with $818.7 million for the 53-week period ended February 2, 2013. Comparable store sales increased 1.8% on a calendar basis (comparable 52-week to 52-week period).

Gross profit was 36.3% of net sales for the 52-week period ended February 1, 2014, compared with 36.5% for the 53-week period ended February 2, 2013.

Store operating, selling and administrative expenses were 21.3% of net sales for the 52-week period ended February 1, 2014, compared with 20.8% of net sales for the 53-week period ended February 2, 2013.

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