Shares of sporting goods retailer Hibbett Sports (HIBB - Get Report)  rose in premarket trading Friday after the company posted a narrower-than-expected loss in its second quarter.

The company reported a loss of of 13 cents a share, which included 9 cents of one-time compensation costs related to the transition of its CEO Jeff Rosenthal into retirement. Last year, the company lost 6 cents a share.

Analysts were Hibbett to report a loss of 16 cents a share in the second quarter.

Sales for the three-months period totaled $252 million compared with $211 million the same quarter last year. Analysts had expected revenue of $256 million for the quarter.

"Based on the strength of the first half and our confidence in the second half, we have updated our annual guidance," said Rosenthal in a statement.

The company now estimates that it will report adjusted earnings per share of between $2.15 and $2.25, up from previous guidance of $2 to $2.15. Analysts are forecasting $2.10, on average.

Shares were rising 5.88% to $18 in premarket trading.

Constable owns none of the securities listed in this story.