Sporting goods retailer Hibbett Sports Inc. reported today that its profit jumped 15 percent in the third quarter, attributing the raise to increased sales and a tighter control of inventory and expenses.
The company earned $8.8 million, or 30 cents per share, in the quarter ending Oct 31, up from $7.7 million, or 26 cents per share, one year earlier. The results beat a 24 cent per share Wall Street estimate.
In after-hours trading, the company’s stock rose $1.53, or 8 percent, to $20.50.
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