HIBB - Earnings call transcript Q4 2018

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Operator

Ladies and gentlemen, thank you for standing by. Welcome to the Hibbett Sports Fourth Quarter and Fiscal Year-End 2018 Conference Call.

During the presentation, all participants will be in a listen-only mode. Afterwards, we will conduct a question-and-answer session [Operator Instructions].

As a reminder, this conference is being recorded, Friday, March 16, 2018. to conference like to now would turn over the Mr. I with Corporate Watson Communications. Pat sir. Please go ahead,

Pat Watson

Thank Hibbett quarter for XXXX. operating XXXX, you joining ended results financial the which for and company’s the February fourth on and year Sports fiscal XX, to review

we made differ those to provisions everyone be views in Act statements. your should are reliance Securities comments would response from discussed and materially that risk are forward-looking based of on These like in the Reform call future events to It performance, forward-looking reflect may respect current on this uncertainties. to with noted the conference those anticipated not that I the to Harbor Litigation the statements, historical subject begin, and of in Safe management’s the Before financial remind XXXX during facts, Company’s statements. Company’s are and results which including questions, Private future and

to cause for on Form to earlier Some this Commission. Securities Report Exchange the Annual of in issued the Company’s been contribute sources morning, you release could factors We and in or XX-K these in such news have refer more that filings the information. the with other described and differences

this over Rosenthal, the Executive conference March to period date, XX like ahead, of I Hibbett it go the to now XX, policy on conference is to a to call to Chief XXXX. this call days. webcast information of Jeff management’s of Lastly, are Sports Please of call archived information, the like point today’s Officer. Jeff. limit I’d replay remarks Because would turn time-sensitive based as accurate and that out during of nature of this understandings the believed

Jeff Rosenthal

fiscal Briskin, have were XX Operations. everyone. Thank Net Jared with Welcome Hibbett quite I $XXX.X store VP million, including VP, the fourth results February for Cathy Pryor, of quarter Comparable good $XXX.X morning, XXXX E-commerce sales sales for for XX, you, morning quarter. Store Chief January We for for compared the XXXX. increased quarter fourth the million VP ended quarter. ended with me increased Senior $X.X and million the X, and and X.X% period weeks sales this Scott XXXX XX $XX.X for earnings represented CFO, Senior week Senior the of Merchant; week the call. to fourth XXrd million quarter. with Bowman, fourth Sports and the pleased X% sales to total

expansion. through continues across expanding our serve and base better connecting selective and expand store of to to e-commerce more continue customer Ease to by shopping day assortments every customers we We more customers. improve our are with and our channels both

on to new will as will of our the in year-over-year, hope loyalty pick program year. rewards increase the our our profitability and to value Loyalty, sign-ups. provide up are to of in driven see prior to We our this was easy members. continue we loyalty from to accounted we by use and Great to to member versus In store, experience member program number year, which continue transactions for launches. later QX, app, use of members, be real promotions access up we’re be product of be fiscal early invest new XXXX, strong by results Total An will in significant it value. revenue Example, omni-channel QX. had will This transaction buy shopping member XX% continuing year. place We programs exciting XX% improve that make re-launch was to increases continue XX% to average during the bring per on an business. to members. and a sales functionality a that XX% will now long-term our or our program help BOPIS, would ease which to focus and more convenient providing working value online great our have loyalty early in in example of greater of value year-over-year for example

Over customers Our smartphones. is of our our from are XX% app, incredibly Web traffic mobile. site

Given our mobile apps. customer, great in to sense it invest of makes a deal

The it new process a loyalty greater also shop Our in-store raffle, around improved apps as make convenience will offers and online, easier as our significant well to to and provide app program. experience. new

been the Android apps We We pilot. month. finished in the our of customers market participate development approximately have have in testing Birmingham our and the and last had iPhone we for XX,XXX

these shoe. from great improve experience deal further our to We in-store learned raffle have tests, allowing us launch a for

our release the process. the month, by raffle followed will app of next new within rollout We store

from benefits our preferences and and app; also regular be following increase site; sign-ups increase e-commerce information versus shoe that conversions marketing global the expect can liquidation for We the customers valuable increase such used online shoes. loyalty as our

store performing the For bringing to in stores, XXXX. new closed states underperforming stores the stores, and quarter, February XX XX as opened of high Hibbett expanded X,XXX base two X, XX

on our We continue to invested and store our close stores while return capital. base optimizing improve

forward, pleased sales our branded strength business. the acceleration improvement and As the in are the by we apparel e-commerce with we and in footwear driven look stores in continue comparable

to the to continue Although, call initiatives now will major we’re in significant we’re VP brick and Merchant. over and I remains making Senior progress and with Briskin, mortar see challenging, Chief the results. Jared turn pleased our

Jared Briskin

Good morning. Jeff. Thank you,

to During improvements the in trend. fourth quarter, we our see continue

strong our in focused sportswear, Our trends led business, and continued weather growing footwear. on favorable apparel e-commerce to

marketplace negatively. was as as As gross promotional. our well promotions the emphasis These and aging we on improving margin expected, impacted very productivity

high single-digits, mid positive and men’s were over Our up with apparel business single-digits. genders improvement both women’s, up previous All a significant trends. was

difficult. quarter over soft The license a we was of Our Seasonal focused to categories during were was very benefit versus very bottoms genders. Championship remains down especially sportswear January the National was winning Alabama customers all across quarter performance. while in our strong the part on business business assortment favorably responded and earlier to holiday double-digits, as and and Georgia were the the

the all strong Bowl Cubs did year. Footwear In the the led side mid low not up e-commerce continued. the and our very early World NBA to low was baseball business, Team growth women’s Series Nike, categories sports overcome as Championships was in to improved. single-digits. of was areas. or premise kid’s business single-digits Falcons by up followed offset in as equipment in was the fitness business enough momentum business Men’s with up football down strong run footwear our declines prior in partnership deficits Cleated and mid down single-digits. of the not footwear business penetration the and On significant were single-digits Super

access allocations from of was aging as continue our improvements improves quarter in in We Inventory productivity areas. vendor all we much partners. emphasize see these and continue improvement to the and during to

a effort cleaner over discuss to Scott Bowman in results. financial marketplace will current this to expect merchandize now throughout improved the result margins the year. We and our call the turn I’ll

Scott Bowman

and Jared year results Keep weeks that included year. morning. versus Thanks, XX weeks in versus XX prior good fourth prior the weeks year. in included mind quarter Full XX weeks results in the XX

was XXrd these mainly XXrd basis was costs increased to with year. expectations approximately on business. $XX.X marketing of and This sales. By week. for points as sales associated rate week of December gained For XXX and associated were sales to $XX.X to over as total the from XX.X%. the quarter quarter increased XXX margin XXX the E-commerce Gross in a week XX in business a year establish promotional was month, is XXX,XXX X.X% fourth comp one-time prior ecommerce and tax X.X% rate were income November, rate with associated sales Depreciation of The the the up quarter. and included an points XX.X%, basis by decreased e-commerce mark-downs, decreased of of of division. quarter. due percent the sales, quarter, percent operational basis SG&A mainly expenses as with occupancy additional the sales our last increased to X.X% $X.X a which expenses in decreased negative compared million, Logistics in points total one-time X.X%. of of and XX XX offset with due charge the was team profit with million the partially our a X% sales. million last higher the inventory leverage of for due the associated team increase percent sales our outperform $XXX.X sales. January. and continued and store flat reserve and expenses Comp XX% points, sales against leverage sales X.X% a X% This penetration Product represented increased year's to of sale of a increased week and in gain but expenses in million of amortization to ecommerce the to which basis

versus tax last a share million one-time January, in to declined rate by X% last and division of Operating earnings reform. more offset share, per $XX.X income year. the for was $X.XX at year as and related federal was X.X% the $X.XX the XXrd Diluted for per Company's of gain team in includes deferrals from XX% made of came than sales week. Although, of this sale $X.XX which the per to adjustments result share decreased

$XXX and for the repurchased balance At $X.XX week. year, of fourth share Also, slightly the $X.XX $XX.X as week our per and compared million in the for was $X.X a $XX perspective, quarter for shares For lower end, The we outstanding per approximately share last higher existing shares progress $X.X company with per-store repurchased $XXX,XXX slightly the CapEx $XX.X for facilities. with our the for million year. under the the quarter to basis. gain sheet the entire the a division the of for borrowings adjustment full at year quarter last no company in $X.XX total a ended million initiatives purchase CapEx team XXrd on was million included and per further in earnings share million major share one-time million our and from From spent we year year quarter the the X.X% XXrd quarter versus decreased remaining total authorization. of had $X.X lower revolving count. credit finished million Inventory spend. due to made X.X% cash the $XX We on million for in million a average on

highlights guidance. turn I fiscal we would to like related some to our focus to As our provide XXXX,

update, business week recent in As to XXXX the week due fiscal year. last I calendar starts XX later the detailed one

a total revenue Although, most quarter. the quarter will shift, to second be store basis, continue by notably calendar the sales affected third week by be earnings reported comp will and on and comparable in

gain the schedules the a and in update shift supplemental of release. back-to-school are back-to-school volume our business the will volume third details in high high Further Second week. earnings sales a quarter quarter will lose regarding and contained of

of range the year, X% X%. the in negative For expect to comparable store sales to we positive be

We will higher openings XX with The continue close stores we productivity will net to plan the XX revenue impact stores. base of XX flat XX open with volume. our and stores and underperforming stores store we and under volume estimate close as will generally of to to improve relatively and lower be to will closings open new

$X.X of Additionally, be negatively the revenue XXXX. team fiscal in will by million our sale due division to impacted

margin, margins position our strengthen For e-commerce flat operational SG&A, business, healthier position increase basis with help compared this due will an cost driven with remain for and omni-channel to to With will expect we year. in of due XXX associated people believe is initiatives realized Depreciation last tax XX these inventory to of to marketing reform in more respect expected increased expenses X% compensation we our benefits Most made overall of to our incentive much by improvement grow of year. We points. cost a compensation. expect and points X%, us product range overall higher be gross and investments last basis rate the increase our to to will competitive relatively the to associated long-term. the and compared normalized in to

to due of tax the The rate rate reduction We compared to tax approximately be in is decrease rate year’s last mainly from expect XX.X%. to federal the to our XX% XX%, which last of in first higher result be the effects year, to stock Similar a tax compensation. as somewhat rate tax based of reform. due to XX% we to expect tax quarter the

share to team $X.XX share earnings due be after fiscal of $X.XX share deducting Finally, $X.XX for to expect per of the per $X.XX reported the per earnings share week our year. and This against XXrd sale range $X.XX for the for the XXXX per compares division. in or we to $X.XX of

allocation. to Turning capital

year. We for XXXX the expect to to share in continue repurchase our stock in $XX to and program $XX million fiscal buyback million expect

as million the of open selectively for continue our preview are we capital to million stores we improve and $XX our initiatives, operator, Our initiatives we to fiscal expenditures, to execute business. With expect XXXX, omni-channel strategic $XX to spend ready that invest in questions. now new

Operator

first line question question. with from you with Thank proceed And [Operator Please Lyon the comes Genuity. our Instructions]. of Canaccord your Camilo

Camilo Lyon

I was us hoping inventory give little your a bit position. you of could detail on

quarter pipeline ended that as the relate feel your merchandize and you about You to? should with the inventory How spoke you clearly the to down. margin And more of the do down today? coming that recapture receipts importantly, how inventory

Jared Briskin

So obviously, we’ve in of inventory of Really from not of to been the age is very particular only a of coming the inventory. level but the the focus diligently working on the control result inventory, age. negative reduction

that we in aging improve assortment the What with decreases us fresher the intended So we’ll is but operate that’s we’re inventory, we currently than some strongly really obviously improvements additional and floor to have the do we feel inventory do of to expecting our inventory. bringing have are the on certainly product continue initially feel as earlier allowed about for.

in excited whole, upside to be very the re-age. with put a and penetration cognizant want as e-commerce where regard do ourselves to our want feel some back is margins. just don’t of we merchandize Also to So to there about marketplace stand, position

Camilo Lyon

unfold? And as expansion with goes the on, as look of margin should as we is quarters path there that an the or there accelerate that so the coincide forward about think more a should maybe year some and recapture comparisons merchandize these even of we is of

Jared Briskin

ensuring I part of will clean. Obviously, stay our factors, back dependent some do further be just potentially a mean could expansion we obviously the the external middle expect on merchandize see that get the part of towards the on we as year, whole and and we margins. again marketplace we focus of But without as that some

Camilo Lyon

about that It able touch categories you good brands about the you're just comp just seeing a gross then that we where similar and excitement talked story driving can And maybe is some and bring the are progression if if and should can margin upon, innovation some talk Maybe you in being innovation to about maybe to product. most the of would think well the there comp side. and imply the that how there the as we trajectory. most on

Jared Briskin

numbers and category-by-category operating look you off been based fourth business. and first pretty the we've footwear if think commentary, I the in quarter our so Yes, foremost, successful

specific results successful we’ve about been So footwear. pipeline some team back we the and in the executed being quarter. be pretty significant strongly and perspective, introduced working to we the that the that Without really, of able about the really the we’re been were really to follow some fourth based the very context during apparel half feel happy hard quarter. have is newness the very introduced during that position our of you what's will path our fourth the with to is take that we've to like on giving vendors, really towards with market, significant regard year product, there market excited inventory stance, to of on excited From so to an that. pretty And

So equipment as overall. we confident business, some and the cleated a than business feel long our we our our and stabilize can during and quarter the just that our business based we seeing fourth We early business that started a quarter more results. helping and than that baseball is business feel penetration off our in results of cleated result have the ecommerce in do the time. apparel Obviously, fourth

area this businesses category where most the dominant in based some at be the trend concern on license lacking losses. feel we’re fan some fashion will stabilization and the a possible is business wins the point of The with So and product there. solely are

Camilo Lyon

perspective you you forward, And business the could then while this touch a context your What particularly ecommerce learned just from channel, my stores? that and last in managing if the that clearance in going you've question. how both Scott, of on upon year operating plan just business.

Scott Bowman

a and business. a running every that's learn team think we we continue day. learned And I have great We've lot that to

So and a takeaways merchandize. think notable couple edge cutting ecommerce effectiveness that of I are the is of

for will did that So some have ultimately our impact help that us, inventory. us although short-term manage margin

seeing markdown in is don’t well so And we're deeper what places, take when have it's some that of because we visibility. as a you have some more to online, much

are all those So signs us. good for

learn. positive effective marketing so our is and signs. and more. learn amounts, We're is ways testing continue forward, we’ll with that that going and doing now of And marketing a that to several but continue right return some e-commerce mode pretty as we’re to that on the and with channel test we’ll and in e-commerce And some on and we see different we’re gauge lift, marketing the seeing monitor spend

on it’s that a look And a early standpoint long-term. so marketing From before. of is SG&A why mentioned good because do penetration some reason our little this more combination short-term seen And a so as geographies, that our is going bit return importantly, year. the of customer at spend and to very we’re capitalizing we this think for growth, you higher, I that’s have but little a we’ve the one acquisition

continue have site our be where don’t is that encouraged on stores. by traffic we We to the

penetration. So and some California, New other high are York states quite

We few have very stores.

mode are and helping be. we engine definitely so to And search incremental are acquisition. And customers. continue definitely is search that in again, those think optimization And customer acquisition like that customer and we things paid

to signs encouraged we’ll going So more forward. continue to optimize, on early the and come, but very we’re

Operator

question. question Please from Benedict with Robert Peter with line the next of comes your proceed Our Baird. W.

Peter Benedict

some levels business? of this cadence do model across you half are guess through the How clearance channel. the minute. -- out of to maybe go first the of that you probably I or And think in sales a the for the year. guess e-commerce inventory, just as the the clearance the with that going penetration sticking year I moderated Just about

that’s the the just thinking e-commerce and That’s So How the you’re question. the half longer-term? then about first of year penetration maybe question. first first

Scott Bowman

quarterly give without you giving guidance, I’ll specific So some tidbits.

our penetration QX. holiday. a So in index X% bit of Naturally about last was QX about and over of year will in QX X.X%

So the beginning rate the of I the X.X% part blended think. as into for about we this back was half year, look

a online, is, see just business what that So and But we slightly penetration higher growth offset And optimization of good. is assortments which I and be sales in think will see be that. the search clearance than it’ll bit we’ll that we’ll is growth. drop think of marketing driving general little engine with by expanded

I that’s think what we’ll So see.

bit Now well a business. as we that go that help margin as should

So I amount rate a much think we’ll seasonality of fairly mind, see drive in we half we’ll and first of continue piece Keep penetration to the year. the that it continue in strong as to can. as the

Peter Benedict

we at $XX up if it’s the X% step to you’re X%, XXXX SG&A, Turnover planning of to to look million that million. in $XX

out called look of a where million anything in the cost nature structure how million $XX we we the do the one-time that of about off falls comes maybe of needs standpoint from there to off be just as that’s much $X versus to how is rebasing that longer-term? truly You to is to or think $X business there But million in million. that grow $XX

JeffRosenthal

re-basing. a good that And of portion is

definitely competitive be see, compensation. and that at the we As we competitiveness in need we that on the look to we’re environment

off sales So that expense. a bit, were very profitability we on and Last compensation mind. with conservative our is year top of

to So get closer that we need to normal.

is that increase. so piece big And of that a

growth the space. of lot drive mobile the piece app. about is to that The in profitability. And increase term talked other longer of in omni-channel the Jeff is

we funded. store is to put we've with But we’re long-term. but try, the about make with in We’re to ideas that talked and I online as the in have sure that again, as marketing early business in of we think work, need approach. measured that we to really want forward. expenses returns some seen, to of excited the then that some even looking is so going capital is very that that some pick-up I things that we’ll about do better drive get And things some And to that. We're buy expense. We

Peter Benedict

These it in the new I a it's true, the be of baseball would bat lift business. past know standards,

comp pretty the in that I like I impact first or good. here part think the past, changes comments the versus was something the is mean that over you. something you to the there? alluded there different your of this it can Thank that has is baseball about meaningfully year in the prior environment

JeffRosenthal

Yes, impact in significant I obviously it a comp. have but expect to growth don't the to are mean the we meaningful seeing category,

Operator

line next Our question. comes Sigman with Suisse. your Seth of proceed question from Please the Credit with

Seth Sigman

year growth, talk to store store a closings. the first is wanted little I think So this about net of

wondering do more think XX just one is You over talked to I I'm stores? then the in have the few a this you or years. about the you XX And general, stores. underperforming year underperforming do just how guess evolves next clean-up footprint store

to does than Thank what smaller it are five like look you. is from today? where So we three now, it

Jared Briskin

and But biggest the the we're return of have still still a now, now stores at of looking that capital look store invested get it's to that right of go we is of that about really continue better right And that important now. for production get see we our our opportunity. Seth, really and we’ll to on at think still It's health we we is just and There of we're productivity lot base company. more places we really really the But out be at long-term opportunity. a lot to that not that. lot existing have. the getting really optimizing thing

to we get example, same for stores productivity what We open have out and we and on have believe see definitely the seven do invested our to at eight in return we’ll opportunity a we But We just continue need out. There or capital. our huge stores today is still there. that as conscious that time, for California. be a of

Seth Sigman

discuss being relatively the closing profitable flat of you’re operating they talked And if revenue profit you the from think I stores? impact. so, can then net those in those implications closing about you today? terms Are stores And

JeffRosenthal

of we it all look There some the a told, is fairly profitability, flat above little wall has close flow, effect differing from the little total minimal. are but store are of when be levels But at standpoint cash below. profitability four the some will

Seth Sigman

finally, fulfillment as half gets from the think And store for you online about fulfilling online you in then store the far been to high this make penetration How of you Obviously, just before last back has have business. can from quite year. some other investments?

Jared Briskin

some have We The observing to room outstanding that job of still have go. lot stores a done of an fulfillment.

that done point. this And have standpoint. they center distribution a have in capacity a But so lot most to of fulfillment from up we still our of

shift that more. some So we distribution But center. to for starting we much much, are the have volume capacity to of

a before up going to be So run capacity constraints. while we it’s against

Operator

comes from question Bank Jadrosich question. line with Please of next of the Our Lynch. Rafe with America your Merrill proceed

Rafe Jadrosich

you e-commerce coming Can to earlier store about want made you’re comment on new up since cannibalization from about the from a e-commerce markets. launch? I you Scott, talk seeing from the follow impact

Scott Bowman

of signs. seeing an and aren’t not to signs science It’s cannibalization measure for we try and looking we’re really that, any exact major

And e-commerce store or where we some cases, have by the are stores. at the that many accounts state that is over-indexed are of And that looking e-commerce the those above with penetration things at of our are sales are and in states versus average. we

gotten the of some think comments talked business we they driving is and in in And we’ve about so the And of Hibbett who we’ve that stores lot back actually of further. cases, sell. products it’s us gives increased that some a awareness that -- the some really

in point. we’re seeing So I there think Probably that a is signs benefit cannibalization but at major this somewhere, we is not some that there expect.

Rafe Jadrosich

the margins versus e-commerce And what are? your maybe about then can expectations you early initial talk

Scott Bowman

Certainly, on and with us has working expectations. slightly we above that bring we’ll or And helped costs really back. line be merchandize inventory. was see The in to expected the They’re which that for freight were more and throughout that at are expectations our clearance lower opportunities but some with year. our selling they

Rafe Jadrosich

key impacts can about can as the for you you to then the other next of how you that -- year, think you your And Do the that talk about that get allocations can from vendors still allocations? stores? same reallocate you foreclosures products

JeffRosenthal

closely of bottom that of that look the important and door a is our very from at we the build to model. models all up certainly We pairs component

from expect base. closing a so perspective current store the on we And open impact an don’t that have

Operator

comes Please next with proceed Sam Susquehanna. Our from the your line question. of question Poser with

Sam Poser

I guess mentioned the first for point the around the question before $XX had was is still e-commerce to you that million breakeven Is $XX million. case? that

Jared Briskin

it’s think that, to close Sam. I

spend just of is think I variables to marketing the the the one were dollars short drive in business and long-term.

may to it going but fluctuate that a little it’s bit number, close around So to be that.

Sam Poser

there more you’re assume but two, if the a one sales get, works to plus level to you next for down walk because you’re that of expecting. And so to then you’re maybe and this into ahead in settle can it basically Could guiding find I pay-off seem go like just little expecting you SG&A you in then investing something anticipate? the new through SG&A. And year? expect there the you’re all Is this it's where to bow down would you

Jared Briskin

what be but so. just guidance it be to as we directionally Sure, as hope some growth that norm, future And X% give will X% going long-term I'm we but catch-up the to that. some little money now should right and it spent term, business lower this that and the will we ramp-up to e-com we we of not about that talked the than is for look long-term think the think not into But projects. a longer really trying

Sam Poser

the moving inventory you’re And right levels, then on direction. certainly

business of even some it be, through because still supply? the have ecommerce reduction, you job to allowing long-term that you appears weeks pretty move would the fairly it with of more in that doing of a the idea healthy past. four turn we performing efficiently us inventory is a Given give just target Can good products slower of

Jared Briskin

Yes, I for into enough its but mean inventory really our main not concern position. is customers get having

improvement some but not to that are. inventory And from compared there where off think falls exactly turns sure, for room we we so where is

Operator

of question next comes with proceed with Rick Please line question. Our Stephens. Nelson your the from

Nick Zangler

decline next sales, amongst the same-store quarter with obviously Does year, to plus the calculate to or for negative sales breakout made X% On year? then out that. up you’re for if and be you out from one that same-store this that guiding ecommerce? way drive e-commerce stores for to would break then and willing expectations a Curious yours contribution guide parse two. I store the the number in base then next any and the

Scott Bowman

just think pick-up And penetration exactly. X.X% I'm in next was a that and back not the in little do going sales we general, to the bit will half. pass it about But that of e-com year out

can and estimate, estimate then it. comp you into on guidance won't your give take So back there specific we but

Nick Zangler

thus I signed online any it, any that found and well into are thus categories laggards you far? particularly product far guess that

JeffRosenthal

laggards, as there as other dominant the stabilization Again, be our the we of perspective. to an I is that wouldn’t way. and online in our say believe some some a improves improves, category proved from and categories penetration footwear think those online I operate that I it's of earlier, see we’ll out we to expected do categories mentioned assortment

in that success. are boats all some in footwear but achieve an and do of to of other feel thus opportunities it we but I level So impact see had far categories more arising, penetration same like

Nick Zangler

can areas And that similar? amongst group then to closings, attributes to common fairly urban those stores maybe proximity point that finally store anything any just you that on population is the for the

JeffRosenthal

be reasons, gone I malls these of is center, the a the there have sometimes other some new away, sometimes of just side on center built various town. there may think

had what made estate And decision take. a on sometimes real we just we poor

not there there think just reasons of I that but happen specific is one lot could reason. So is

Operator

Instructions] of question. your Duffy with from comes And Stifel. Jim with next proceed our Please the question [Operator line

Peter McGoldrick

openings I concentrated was and curious Is that with any fashion, door do the specific door you and store sports closures. footprint and any And in specialties? augmenting see the your opportunity across athletic typing?

Jared Briskin

is type a our goods it in that stores say and us. over a would more indexed I not surprise big sporting of that’s bit for

forward. affect as it our we of new of the at look and we at going stores so look And that through will definitely typing decisions some stores, lens

Peter McGoldrick

look previously that going we about you’ve you trend as be to forward? -- and closings so X% Could expect the annually. at a spoken And openings

Jared Briskin

giving general that’s performance and depends return the on the on of think rule just I of Ultimately, thumb. they it a stores just are us capital. the

and stores we’ll guidance to year-to-year the that on company to try right so number will that get those it mix. unprofitable do fluctuate for And give of but out

Peter McGoldrick

on and of more inventory then in lap markdowns. or size you I curious those from And lapping the product the margin, -- as apparel? Can off benefit optimistic you you first then markdowns you from either footwear benefit are was

JeffRosenthal

margins I at it’s across year, equipment. look really apparel I think as or think board. It’s really or throughout the not the footwear we

I three think continue especially improve. test age there is and our to as opportunity in improve last year to all from

Operator

McKeever the of Partners. from question. your comes proceed Patrick line with question next Our with MKM Please

Patrick McKeever

sales for fiscal the for to same down store On XXXX, guidance the up X%.

particular sales number, brand brand. just range brand? some that push you of that players distribution question the end particular I about broadened guidance. that Just talk toward been you know sales. you quarterly about there talk might And might that then their of And has how of a a the I'm in factors low of want on high I is is and And in other wondering Armour if give also your that could Under maybe But result dynamic the mean end? my comments about, the affecting really and second from wondering space that different don’t more what hurting you the on just think some to

JeffRosenthal

comp sales. the store off on I’ll Patrick, start

quarterly couple So about. of guidance just a without giving to think things

get business year, back In year. start half, site. this ecommerce we’ll the grow we to launch As Web lap the to throughout continue of that into the we’ll the

half more tell in that, ecommerce probably comp first low We year. or there is there the time quite in to that's true prior opportunity did have sales there little year. without bit of whether not some the We chance be hope lap not. QX could So in will last

the Jared pipeline that opportunity. thing that talked about. to could an And so the think is be just other I And about think

impactful very back of the are be the half with coming pleased that probably year and versus see first We product we in pipeline that more of will half. the the

Jared Briskin

think our they business. brand great regard important and the first brand one with the and Under are I to number very Armour, to a foremost

or consumer I out brand preference for improving, sportswear challenges the been perspective commentary currently, the perspective, lagging been we would segregation and lifestyle the business a from more think Certainly, the I and presented as has performance difficulties the some from business that's has has of whole. marketplace, been a the which that think in view. share

say launch to with marketed they footwear, their it. recognizes to would it improve hard think most I and and also I they the recent brand that executed And segmentation regard very the way in they’re particularly products. well the I I think However, working think

that and will feel think do to brand business brand great very important a our right fairly and that I quickly. shift So again I they

Operator

back turn there you. questions this Rosenthal, time. continue your will at no call with Mr. are to And further remarks. closing the Please I

Jeff Rosenthal

call future. to having I forward Thank our just the on to everyone thank for results want today you. first quarter being the in near and look

Operator

your thank your and gentlemen, and conference the participation you call conclude that you Ladies please for does We for that disconnect lines. today. ask

Hibbett (HIBB) 16 Mar 182018 Q4 Earnings call transcript