RTTNews | May 28, 2021 06:55AM EDT

06:54 Friday, May 28, 2021 (RTTNews.com) - While reporting financial results for the first quarter of fiscal 2022 on Friday, athletic-inspired fashion retailer Hibbett Sports Inc. (HIBB) raised its earnings and comparable sales growth guidance for the full-year 2022, given the strong performance in the first quarter. Comparable sales for the first quarter increased 87.3 percent.

For fiscal 2022, the company now projects earnings in a range of $8.50 to $9.00 per share on comparable sales growth in the high-single digits to positive low-double digits range.

Previously, the company expected earnings in a range of $8.50 to $9.00 per share on comparable sales ranging from negative low-single digits to positive low-single digits.

On average, four analysts polled by Thomson Reuters expect the company to report earnings of $5.65 per share for fiscal year 2021. Analysts' estimates typically exclude special items.

"We will continue to make investments in our store base and in technology across our omni-channel platform to further enhance our customer experience as well as improve internal business processes," said Mike Longo, President and Chief Executive Officer.

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