Hibbett Sports announces 3rd Q net sales increase

Hibbett Sporting Goods Inc. (Nasdaq/NM: HIBB) announced a 16.1 percent increase in net sales for the third quarter ended Nov. 2, 2002, reaching $67.0 million compared with $57.7 million for the same period last year. Comparable store sales increased 5.3 percent. Net income for the third quarter increased 29.2 percent to $3.3 million compared with $2.5 million in the third quarter of last year. Hibbett opened 10 new stores and closed one store during the third quarter, bringing the store base to 356 stores, with plans to open an additional 20 stores during the remainder of fiscal 2003.