Why Hibbett Sports Stock Surged Today
Shares of Hibbett Sports (NASDAQ: HIBB) jumped on Tuesday, following the sports apparel retailer's second-quarter sales update. By the close of trading, Hibbett's stock was up nearly 13% after rising more than 26% earlier in the day.
Hibbett expects its second-quarter comparable-store sales to climb more than 70% year over year. That crushed Wall Street's estimates; analysts had expected comps growth of only 15.7%.
Hibbett says the gains will be driven by both its stores and its e-commerce, whose comps are predicted to rise by roughly 60% and 200%, respectively.
Source Fool.com
