Footwear is Hibbett’s Strongest Q3 Category
Footwear is Hibbett’s Strongest Q3 Category
Retail chain Hibbett said its footwear segment’s results in Q3, up low single digits on a comp basis, were driven by basketball, lifestyle, running silhouettes, and a favorable new product launch calendar. Men’s and kids’ footwear sales increased low single digits. Women’s footwear sales rose by the mid-teens. Traffic, conversion, and average ticket each increased, driven by footwear and a strong Back-To-School season.
But Hibbett, which has more than 1,100 Hibbett and City Gear stores across 35 states, was forced to deal with higher promotional activity across footwear and apparel during the period. It expects an aggressive promotional environment will continue in the near-term. During Q3, the company launched its Nike Connected Partnership that connects Hibbett’s and Nike loyalty programs. In-store connected member events and member-only products are forecast to boost the retailer’s customer acquisition and retention rates.
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