Swing And A Miss: Hibbett Sports Drops 30% Following Q2 Guidance

Hibbett Sports, Inc. HIBB shares are trading lower by $5.70, or 29 percent, at $14.00 in Monday's session. It has joined the long list of brick and mortar retailers that have been supplanted by online retailers such as Amazon.com, Inc. AMZN.

Before the open, Hibbett Sports significantly lowered Q2 EPS guidance from a 15-cent gain to a loss in the 19-22-cent range. Also, same-store sales were down 10 percent.

After a lower open, Hibbett's stock managed a brief rally to $15.35 before continuing its move lower. It has continued to make lows for the session, as $13.85 stands as the low as of 10:40 a.m. EST. That marks its lowest level since March 2012, when it bottomed at $12.82.