NEW YORK (TheStreet) -- Shares of Hibbett Sports, Inc. (HIBB) are down -8.04% to $52.52 today after the operator of sporting goods retail stores reported fiscal first quarter 2015 earnings that slid 0.6% as slightly improved same-store sales growth was offset by higher costs, and as results missed expectations, the Wall Street Journal reports.
Hibbett reported a profit of $26.2 million, below last year's $26.4 million. The per share earnings increased to $1.00 from 98 cents, the result of fewer shares outstanding in the most recent quarter.
Sales were up 3% to $240 million.
Analysts polled by Thomson Reuters had most recently forecast earnings of $1.07 a share on revenue of $246 million.
While same-store sales were up 0.8%, they missed analysts' 2.3% growth projection.
TheStreet Ratings team rates HIBBETT SPORTS INC as a Buy with a ratings score of B. TheStreet Ratings Team has this to say about their recommendation:
"We rate HIBBETT SPORTS INC (HIBB) a BUY. This is driven by a number of strengths, which we believe should have a greater impact than any weaknesses, and should give investors a better performance opportunity than most stocks we cover. The company's strengths can be seen in multiple areas, such as its revenue growth, largely solid financial position with reasonable debt levels by most measures, expanding profit margins and notable return on equity. We feel these strengths outweigh the fact that the company has had lackluster performance in the stock itself."