Hibbett Sports (HIBB) EPS Up 56%

Hibbett Sports Inc HIBB released financial results on Friday morning that beat Wall Street estimates. Hibbett Sports Inc reported that its 1st quarter fiscal 2011 earnings were 59 cents per share, up from 38 cents per share a year earlier. Net sales rose 17% to $184.5 million, up from $157.7 million a year earlier and comparable store sales were up 14.5%. According to a poll of analysts by Thomson Reuters, the average Wall Street estimate called for earnings of 48 cents per share. Hibbett Sports Inc raised its full year earnings forecast to $1.35 to $1.50 per share.