Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.
- Hibbett Inc (NASDAQ:HIBB) reported third-quarter FY21 sales growth of 15.2% year-on-year, to $381.72 million, beating the analyst consensus of $360.63 million.
- Comparable sales increased 13% versus last year, as brick and mortar comparable sales increased 11.6% and e-commerce sales rose 22.3%.
- Comparable sales increased 37.4% on a two-year basis versus the 13 weeks ended November 2, 2019.
- EPS of $1.68 beat the analyst consensus of $1.57.
- The gross margin contracted 200 basis points Y/Y to 36.3%, reflecting increased freight and transportation costs.
- The operating margin contracted 120 basis points to 8.8%, and operating income for the quarter rose 0.7% to $33.4 million.
- Hibbett held $29.7 million in cash and equivalents as of October 30, 2021.
- Inventory at Q3 end was $258.8 million, a 22.8% increase over last year. Store count at the end of Q3 was 1,086 versus 1,074 last year.
- Outlook: Hibbett raised FY22 EPS outlook to $11.70 - $11.90 (prior view $11.00 - $11.50) versus the consensus of $11.00.
- The company expects Q4 GAAP EPS of $1.85 - $2.05, above the consensus of $1.65.
- Price Action: HIBB shares are trading higher by 8.01% at $77.94 in premarket on the last check Friday.
Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.
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