Hibbett Sports Explained

Hibbett, Inc.
Type:Subsidiary
Former Names:Hibbett Sports, Inc.
Industry:Sporting goods retailer
Location:Birmingham, Alabama, United States
Locations:1,169 (2024)
Key People:Michael E. Longo (president and CEO)
Ben Knighten (vice president Operations)}}
Robert J. Volke (CFO)
Jared Briskin

David Benck
Products:Sporting Goods
Revenue: (2024)
Operating Income: US$137 million (2024)
Net Income: US$103 million (2024)
Assets: US$909 million (2024)
Equity: US$419 million (2024)
Num Employees:12,500 (2024)
Parent:JD Sports
Subsid:City Gear
Footnotes:Financials .[1]

}Hibbett, Inc. (formerly Hibbett Sports, Inc.) is an American sporting goods retailer headquartered in Birmingham, Alabama and is a wholly-owned subsidiary of JD Sports.

the company operated 1,169 retail stores, which include 960 Hibbett Sports stores, 193 City Gear stores, and 16 Sports Additions athletic shoe stores in 36 states.[1] Hibbett Sports, Inc. operates sporting goods stores in small to mid-sized markets, in the Southeast, Southwest and lower Midwest regions of the United States. States with the most stores are Georgia (97), Texas (97), and Alabama (90). Its stores offer a range of athletic equipment, footwear and apparel. The company's primary store format is the Hibbett Sports store, an approximately 5,000 square foot store located primarily in strip centers which are frequently influenced by a Wal-Mart store.[2]

History

In January 2015, Hibbett Sports reported net annual sales of US$913M on total assets of US$452M.

In August 2017, the company announced the launch of its new e-commerce site, hibbett.com. The website includes product launch calendars, a store availability finder, and fit-finding technology.[3] [4]

UK-based JD Sports agreed to acquire Hibbett for $1.08 billion in April 2024.[5] [6] [7]

References

  1. Web site: FY 2024 Annual Report (Form 10-K) . March 25, 2024 . U.S. Securities and Exchange Commission.
  2. Web site: Hibbett Sports, Inc. SEC Filing 10-K January 2015. 28 January 2017. Stockpup.com. UNITED STATES SECURITIES AND EXCHANGE COMMISSION. 22 August 2017.
  3. News: Hibbett Sports expects store sales to drop 10 percent; launching e-commerce site. AL.com. 2017-08-22. en-US.
  4. News: Hibbett Sports retailer finally launches e-commerce site after brutal sales drop. USA TODAY. 2017-08-22. en.
  5. News: JD Sports to buy US rival Hibbett in $1.08 billion sportswear retail deal . 2024-04-23 . Reuters.
  6. Web site: JD Sports Fashion rachète la chaîne d'habillement Hibbett pour 1 milliard de dollars . 23 April 2024 . BFMTV.
  7. Web site: JD Sports veut racheter son concurrent américain Hibbett . 23 April 2024 . LSA.