Hibbett Sports Inc. shares rose 2.2% in Monday premarket trading after the retailer revised upward its fourth-quarter guidance. Earnings for the fourth quarter are expected to be in the range of 47 cents to 51 cents. The FactSet consensus was 30 cents per share. Sales are expected to be $266.7 million, up from $246.9 million last year and ahead of the $260.4 million FactSet consensus. Same-store sales are expected to increase 1.6% for the quarter, ahead of the FactSet estimate for a 0.9% decline. “Results exceeded expectations for the quarter, driven by strength in branded apparel and footwear and continued acceleration in our e-commerce business,” said Chief Executive Jeff Rosenthal in a statement. Hibbett Sports will report fourth-quarter earnings on March 16. Hibbett Sports shares are up 41% for the last three months, but down 15.6% for the past year. The S&P 500 index is up 5.6% for the past three months.
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