Hibbett Sports, Inc. (NASDAQ:HIBB) Q3 2020 Earnings Conference Call - Final Transcript

Nov 22, 2019 • 10:00 am ET


Hibbett Sports, Inc. (NASDAQ:HIBB) Q3 2020 Earnings Conference Call - Final Transcript


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Jeffry O. Rosenthal

combined Hibbett and City Gear e-commerce, added additional payment flexibility for our customers, launched same-day delivery in several markets, and grown our ability to communicate with our customers by double-digits across all marketing channels.

The changes we are making have resonated with our customers. Both store and digital comps saw sizable growth this quarter with our digital channel growing the fastest at a 52% comp. Not only are the changes we are making resonating with the existing customers, we are also attracting new customers. This quarter, we saw a 68% increase in loyalty enrollments over the prior year. We have made continuing progress in differentiating our retail experience.

We will also continue to double down on providing the best merchandise and the most convenient shopping experience for our underserved markets. As an example, we currently offer six ways to shop; physical shopping at a store; traditional e-commerce with ship to home; buy online and pickup in store; reserve online and pick up in store; same-day delivery; and using our app process to win the right to purchase coveted launch shoes.

Our seventh way to shop will be buying online and shipping to our stores. This will be available in the first half of next year. We were also considering some technology collaborations, where we will mix-and-match ways of shopping to produce new and exciting experiences for our customers. Who knows how long this list will grow in the future. But one thing is for sure, Hibbett will be ready to help our customers however they want or will want to be served.

I cannot thank all the associates enough for their hard work and dedication to seeing our strategic vision come to life. This has never been easy, but we have accomplished so many things together in transforming our Company to a true omni-channel retailer.

Thank you all. Operator, we're now ready for questions.