Hibbett sales drop as e-commerce rises

Hibbett sales drop as e-commerce rises

May 29, 2018

Hibbett Sports took its time getting into e-commerce, and this quarter the online channel was its saving grace. The company is still working to alert shoppers to its online presence, but has also added a mobile app to further stoke marketing and online sales, and later this year will offer in-store pickup for online orders.

The quarter was muted overall, though executives took pains to point out that things improved as the weeks went by: By month, comp sales fell 7.3% in February, rose 6.1% in March and another 0.6% in April, teeing up for a second quarter with cleaner inventory and higher volumes of new product, CFO Scott Bowman told analysts, according to a transcript from Seeking Alpha.

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