Hibbett Sports released its fourth quarter and fiscal year results that ended February 2, 2013. According to the report, its net sales for the 14 week period that ended February 2, 2013 went up 14 percent to $217.4 million compared with $190.7 million for the 13 week period that ended January 28, 2012. Store sales increased 4.9 percent on a 13 week to 13 week period.

Hibbett’s gross profit went up to 36.1 percent of net sales for the 14 week period that ended February 2, 2013, compared with 35.8 percent for the 13 week period that ended January 28, 2012. Store operating, selling and administrative expenses improved to 20.3 of the net sales for the fourth quarter compared to the 20.9 percent of the previous year.

Net income for the fourth quarter increased 22.3 percent to $19.4 million compared with $15.8 million for the previous year. Earnings per diluted share went up 23.7 percent to $0.73 for the 14 week period that ended February 2, 2013 compared with $0.59 for the 13 week period that ended January 28, 2012. The fourth quarter added around $0.07 in diluted earnings for every share to the quarterly and annual results.

For the fourth quarter, Hibbett added 27 stores. It expanded 4 high performing stores and shut down 2 underperforming stores. Its store base is now 873 in 29 states as of February 2, 2013.

Net sales for the fiscal year that ended February 2, 2013 increased 11.8 percent to $818.7 million compared with $732.6 million for the previous fiscal year. Comparable store sales went up 6.9 percent year over year.

Gross profit for the fiscal year improved to 36.5 percent of net sales compared with 35.8 percent the previous fiscal year. Store operating, selling and administrative expenses improved to 20.8 percent of net sales for the fiscal year ending February 2, 2013 compared with 21.3 percent for the previous year.

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