Rochester,NY 8/22/2009 6:07:41 PM
Hibbett Sports, Inc.HIBB-Declared a lower-than-expected quarterly profit
Hibbett Sports, Inc.
Aug 20, Hibbett Sports Inc declared a lower-than-expected quarterly profit, hurt by the absence of stimulus checks and shift of tax-free holidays, and the sporting goods retailer cut its fiscal-year earnings outlook, sending its shares down 11 percent.
For fiscal 2010, the company, which is looking to open 50 to 52 new stores and close 20 stores, forecast earnings of 85 cents to 95 cents a share, down from its prior view of $1.03 to $1.17 a share.
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