Hibbett Sports Shares Plummet as Heavy Digital Investments Weigh on Investors

Hibbett Sports’ shares are starting the day well into the red after the sporting goods seller posted fourth-quarter results that topped analysts’ expectations but its forecast for the year ahead missed the mark. At market open, the shares had tumbled nearly 10 percent to $20.28. The company said its net sales for the period ended Feb. 3 increased 8 percent to $266.7 million, besting forecasts for sales of $262.5 million. Comparable store sales increased 1.6 percent with e-commerce sales...

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