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Why Shares of Hibbett Sports, Inc. Popped 27% Today

TheMotleyFool

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Why Shares of Hibbett Sports, Inc. Popped 27% Today

Shares of sporting goods retailer Hibbett Sports, Inc. (NASDAQ: HIBB) jumped as much as 26.6% in trading Friday after the company reported better-than-expected third-quarter earnings and raised guidance. At 12:05 p.m. EST, shares had given back some of their gains but were still up 12.6% on the day.

Revenue was up 0.4% to $237.8 million and net income dropped from $14.6 million a year ago to $7.6 million, or $0.37 per share. On net, the company only added one store in the quarter, so sales per store were flat.

Image source: Getty Images.

Source: Fool.com