Reports Q3 revenue $433.2M, consensus $445.73M. CEO Mike Longo stated, "Our Q3 performance was highlighted by solid top-line growth, with comparable sales up nearly 10% over the prior year period including an impressive e-commerce increase of 22.0%. These results reflect a strong back-to-school season, which fell more in Q3 this year than Q2 as consumers waited closer to the start of school to make purchases. We experienced strong demand for our popular lines of footwear, reflecting continued consumer loyalty to our key brands while our apparel sales for the quarter were pressured by a more competitive pricing environment. Additionally, margins were affected by continued high freight and fuel costs and wage inflation…As we enter Q4 and the busy holiday selling season, we believe we are well positioned to meet our objectives for FY23. As a result, we are confirming our previous full-year guidance. We have a strong inventory position and favorable vendor relationships to ensure we can meet the demands of our customers. Our new store openings are performing above expectations, and we will continue to identify opportunities to extend our market reach. We look forward to a successful year for Hibbett with a commitment to delivering a performance that rewards our loyal customers and creates value for our stockholders."
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