Hibbett sees FY24 gross margin down 20-30 bps vs. FY23

As a result of an increased promotional environment, a higher mix of e-commerce sales, potential supply chain disruptions and inflationary pressure on certain store occupancy costs, gross margin as a percent of net sales is anticipated to decline by approximately 20 to 30 basis points compared to Fiscal 2023 results. This expected full year gross margin range of 34.9% to 35.0% as a percent of net sales remains above pre-pandemic levels.