Hibbett Sports shares tumble after COO departure

By Associated Press
September 4, 2008 | Comments (0)

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Hibbett Sports Inc. shares dove Thursday, a day after the company's chief operating officer, Nissan Joseph, left the company over "philosophical differences" following a seven-month stay.

Shares tumbled $2.46, or 9.8 percent, to $22.69.

SunTrust Robinson Humphrey analyst David Magee said he expected some volatility to follow Joseph's sudden departure. He said he was impressed by Joseph, though he may have been pushing too quickly for change. But he expects the company to improve in the long-term.

Added Oppenheimer analyst Vivian Ma: "While this does leave HIBB without an important executive going into the holiday season, we do not believe this is a major disaster for the company."

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