* Q1 EPS $0.98 vs est $0.92
* Q1 rev $232.9 mln vs est $226.4 mln
* Raises FY13 EPS outlook to $2.50-$2.65
May 18 Sportswear and shoes retailer Hibbett
Sports Inc reported higher-than-expected quarterly
results and raised its full-year profit forecast, citing strong
demand across categories, cost cuts and improved margins.
The company, which sells sporting goods, apparel and
footwear under several well-known labels such as Nike,
Adidas AG, Reebok and Under Armour Inc,
lifted its 2012 earnings outlook to $2.50 to $2.65 per share,
from $2.35 to $2.55 per share.
First-quarter net income rose to $26.4 million, or 98 cents
per share, from $21.3 million, or 76 cents per share, a year
Revenue jumped 14 percent to $232.9 million.
Analysts on average had expected the company to earn 92
cents per share, on revenue of $226.4 million, according to
Thomson Reuters I/B/E/S.
Comparable sales rose 11 percent.
Shares of Birmingham, Alabama-based Hibbett closed at $55.81
on Thursday on the Nasdaq.
(Reporting by Arpita Mukherjee in Bangalore; Editing by Viraj