[GUEST ACCESS MODE: Data is scrambled or limited to provide examples. Make requests using your API key to unlock full data. Check https://lunarcrush.ai/auth for authentication information.]  LongYield [@LongYield](/creator/twitter/LongYield) on x 4476 followers Created: 2023-11-22 22:15:19 UTC $HIBB Hibbett, Inc. Earnings Call Key Highlights: Financial Performance: Hibbett reported a slight decrease in total net sales for Q3 fiscal '24, dropping XXX% to $XXXXX million from $XXXXX million in Q3 fiscal '23. Overall comp sales decreased XXX% year-over-year. E-commerce sales increased by XXXX% and represented XX% of net sales. Strong Footwear Sales: Footwear continued to drive sales, especially in premium brands, benefiting from a regular schedule of new product launches and strong vendor relationships. Nike Connected Partnership: The launch of the Nike Connected partnership, linking Hibbett and Nike's loyalty programs, is a significant development. It offers exclusive shopping experiences and early access to Nike and Jordan member products. Expense Management and Inventory Control: Hibbett emphasized improved expense management and disciplined inventory controls. They are on track to achieve a mid-teens year-over-year inventory decline by year-end. Store Expansion Strategy: The company remains on target to add approximately XX net new stores this year, contributing to growth. Challenges in Apparel and Team Sports: Apparel and Team Sports categories experienced declines, primarily due to seasonal factors and a promotional environment caused by elevated inventory levels in the market. Customer Spending Patterns: The retail environment remains challenging with selective consumer spending. However, customers intend to purchase more this holiday season than last year. E-Commerce Growth: The company has seen an increase in online shopping, with efforts to drive more traffic in stores and online. Guidance for Fiscal Year '24: Hibbett anticipates diluted EPS for the full year to be between $X and $8.30, with net sales expected to be flat to up approximately X% compared to fiscal '23. Total comparable sales are expected to decline in the low single-digit range for the full year. Future Outlook: Despite economic uncertainties and a promotional environment, Hibbett remains positive about its business model, focusing on long-term investments, market share gains, and customer experience enhancements. They expect challenges in the retail sector but are prepared with a strong product lineup and efficient operations.  XXX engagements  **Related Topics** [footwear](/topic/footwear) [ecommerce](/topic/ecommerce) [quarterly earnings](/topic/quarterly-earnings) [$hibb](/topic/$hibb) [Post Link](https://x.com/LongYield/status/1727450713427415049)
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LongYield @LongYield on x 4476 followers
Created: 2023-11-22 22:15:19 UTC
$HIBB Hibbett, Inc. Earnings Call Key Highlights:
Financial Performance: Hibbett reported a slight decrease in total net sales for Q3 fiscal '24, dropping XXX% to $XXXXX million from $XXXXX million in Q3 fiscal '23. Overall comp sales decreased XXX% year-over-year. E-commerce sales increased by XXXX% and represented XX% of net sales.
Strong Footwear Sales: Footwear continued to drive sales, especially in premium brands, benefiting from a regular schedule of new product launches and strong vendor relationships.
Nike Connected Partnership: The launch of the Nike Connected partnership, linking Hibbett and Nike's loyalty programs, is a significant development. It offers exclusive shopping experiences and early access to Nike and Jordan member products.
Expense Management and Inventory Control: Hibbett emphasized improved expense management and disciplined inventory controls. They are on track to achieve a mid-teens year-over-year inventory decline by year-end.
Store Expansion Strategy: The company remains on target to add approximately XX net new stores this year, contributing to growth.
Challenges in Apparel and Team Sports: Apparel and Team Sports categories experienced declines, primarily due to seasonal factors and a promotional environment caused by elevated inventory levels in the market.
Customer Spending Patterns: The retail environment remains challenging with selective consumer spending. However, customers intend to purchase more this holiday season than last year.
E-Commerce Growth: The company has seen an increase in online shopping, with efforts to drive more traffic in stores and online.
Guidance for Fiscal Year '24: Hibbett anticipates diluted EPS for the full year to be between $X and $8.30, with net sales expected to be flat to up approximately X% compared to fiscal '23. Total comparable sales are expected to decline in the low single-digit range for the full year.
Future Outlook: Despite economic uncertainties and a promotional environment, Hibbett remains positive about its business model, focusing on long-term investments, market share gains, and customer experience enhancements. They expect challenges in the retail sector but are prepared with a strong product lineup and efficient operations.
XXX engagements
Related Topics footwear ecommerce quarterly earnings $hibb