Fitness financials: Town Sports tops 'biggest price decliners' list on Nasdaq, plus Hibbett Sports
Town Sports topped the list of "biggest percentage price decliners" among common stocks on the Nasdaq Stock Market on April 1, and Hibbett Sports said it would open 70 new stores in FY '10.
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Town Sports tops ‘biggest price decliners’ list on Nasdaq
No foolin’: Town Sports International Holdings (Nasdaq: CLUB) topped the list of “biggest percentage price decliners” among common stocks on the Nasdaq Stock Market on April 1. Its shares shed $0.72, or 24.08 percent, to close at $2.27.
Hibbett Sports to open 70 new stores in FY ’10
In a filing with the Securities and Exchange Commission, Hibbett Sports (Nasdaq: HIBB) said it plans to open as many as 70 new stores in fiscal year 2010. The expansion plans represent a decline over the company’s opening rates in recent years.
Hibbett said it would close between 20 and 25 stores and expand 20 stores it feels have significant additional sales potential. In fiscal year 2009, Hibbett opened 69 stores while closing 12. It added that the current economic environment and the commercial real estate market make expansion more difficult.
Hibbett has 745 stores in 24 states between West Virginia and Arizona. All but 199 stores are located in strip malls.
–Compiled by Wendy Geister
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