07:09 AM EDT, 06/05/2024 (MT Newswires) -- Hibbett ( HIBB ) reported fiscal Q1 earnings Wednesday of $2.67 per diluted share, down from $2.74 a year earlier.

Analysts polled by Capital IQ expected $2.70.

Net sales for the quarter ended May 4 were $447.2 million, down from $455.5 million a year earlier.

Analysts surveyed by Capital IQ expected $453.9 million.

The company said comparable store sales fell 5.8% in fiscal Q1 compared with a 4.1% growth a year earlier. Analysts polled by Capital IQ expected a decline of 3.5%.

The company said it has suspended its buyback and dividends programs through the expected closing of its potential acquisition by JD Sports Fashion in the second half of the year.

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