The operator of 1,096 Hibbett Sports and City Gear stores across 35 states is hopeful supply chain constraints will ease as 2022 (FY23) progresses and the timing of its inventory receipts become consistent and predictable. Right now, Hibbett is forecasting flat sales this fiscal year and negative low single-digit comparable store sales for the year with second half comps (up high single-digits) offsetting a negative low-teen drop in first half same store sales.

In the fourth quarter, total net sales rose a meager 1.7 percent year-over-year to $383.3 million for the period ended Jan. 29. Brick-and-mortar sales declined 1.6 percent y-o-y as ecommerce revenues increase 1.8 percent to account for 17.1 percent of fourth quarter sales. Comparable sales were down 1 percent overall but were negatively impacted by 10 percent in the footwear segment and 5 percent overall due to delays with launch products. Footwear comps fell mid-single digits in the period as order delays negatively impacted the basketball, lifestyle and running segments. On the upside, Hibbett reported a 9 percent increase in the number of active customers during the period.

For the full year, the retailer saw its topline rise 19.1 percent to $1.69 billion from $1.42 billion as comparable sales increased 17.4 percent. Brick-and-mortar same store sales jumped 21.4 percent; ecommerce sales dipped 1.6 percent.

“…We’re very confident in our positioning with our strategic vendor partners, Jared Briskin, Hibbett’s EVP of merchandising told analysts on Friday. “Obviously, COVID’s had a dramatic impact on the supply chain. That’s led to a lot of short-term things regarding order management issues, order changes and cancellation play…”