Hibbett Announces Completion of Acquisition by JD Sports Fashion plc
Hibbett, Inc. (Nasdaq/GS: HIBB) has announced the completion of its acquisition by JD Sports Fashion plc, effective July 25, 2024. As a result, Hibbett will no longer be a stand-alone publicly traded company. Mike Longo will continue as President and CEO, while Jared Briskin will become Chief Operating Officer. The company will maintain its headquarters in Birmingham, Alabama.
Hibbett, with 1,169 stores across 36 states, is known for its athletic-inspired fashion retail. The acquisition is expected to provide significant growth opportunities through strong vendor relationships, an omni-channel platform, and efficient supply chain operations. JD Sports Fashion plc, founded in 1981, is a global omnichannel retailer of sports fashion brands, focusing on athleisure fashion and delivering products from established and new brands.
Hibbett, Inc. (Nasdaq/GS: HIBB) ha annunciato il completamento della sua acquisizione da parte di JD Sports Fashion plc, a partire dal 25 luglio 2024. Di conseguenza, Hibbett non sarà più un'azienda pubblicamente quotata e indipendente. Mike Longo continuerà come Presidente e CEO, mentre Jared Briskin diventerà Chief Operating Officer. L'azienda manterrà la sua sede a Birmingham, Alabama.
Hibbett, con 1.169 negozi in 36 stati, è conosciuta per il suo retail di moda ispirata allo sport. Si prevede che l'acquisizione offrirà significative opportunità di crescita grazie a forti relazioni con i fornitori, una piattaforma omnicanale e operazioni di supply chain efficienti. JD Sports Fashion plc, fondata nel 1981, è un rivenditore globale omnicanale di marchi di moda sportiva, con un focus sulla moda athleisure e sulla consegna di prodotti da marchi affermati e nuovi.
Hibbett, Inc. (Nasdaq/GS: HIBB) ha anunciado la finalización de su adquisición por parte de JD Sports Fashion plc, efectiva el 25 de julio de 2024. Como resultado, Hibbett ya no será una empresa pública independiente. Mike Longo continuará como Presidente y CEO, mientras que Jared Briskin se convertirá en Director de Operaciones. La empresa mantendrá su sede en Birmingham, Alabama.
Hibbett, con 1,169 tiendas en 36 estados, es conocida por su moda inspirada en el deporte. Se espera que la adquisición proporcione oportunidades significativas de crecimiento a través de fuertes relaciones con proveedores, una plataforma omnicanal y operaciones de cadena de suministro eficientes. JD Sports Fashion plc, fundada en 1981, es un minorista global omnicanal de marcas de moda deportiva, centrándose en la moda athleisure y ofreciendo productos de marcas consolidadas y nuevas.
홉벳 주식회사 (Nasdaq/GS: HIBB)가 JD 스포츠 패션 plc에 인수되었음을 2024년 7월 25일자로 발표했습니다. 이로 인해 홉벳은 더 이상 독립적인 상장 기업이 아닙니다. 마이크 롱고는 사장 겸 CEO로 계속 일하고, 자레드 브리스킨은 COO가 됩니다. 본사는 앨라배마 주 버밍햄에 유지될 것입니다.
홉벳은 36개 주에서 1,169개 매장을 운영하며, 운동에 영감을 받은 패션 리테일로 알려져 있습니다. 이번 인수는 강력한 공급업체 관계, 옴니채널 플랫폼 및 효율적인 공급망 운영을 통해 큰 성장 기회를 제공할 것으로 예상됩니다. JD 스포츠 패션 plc는 1981년에 설립된 글로벌 옴니채널 리테일러로, 운동 패션 브랜드에 중점을 두고 있으며 기성 브랜드와 새로운 브랜드의 제품을 제공합니다.
Hibbett, Inc. (Nasdaq/GS: HIBB) a annoncé l'achèvement de son acquisition par JD Sports Fashion plc, effective le 25 juillet 2024. En conséquence, Hibbett ne sera plus une entreprise cotée de manière autonome. Mike Longo continuera en tant que Président et CEO, tandis que Jared Briskin deviendra Directeur des opérations. L'entreprise conservera son siège à Birmingham, Alabama.
Hibbett, avec 1 169 magasins dans 36 États, est connue pour son commerce de détail de mode inspirée du sport. Cette acquisition devrait offrir des opportunités de croissance significatives grâce à de solides relations avec les fournisseurs, une plateforme omnicanale et des opérations de chaîne d'approvisionnement efficaces. JD Sports Fashion plc, fondée en 1981, est un détaillant omnicanal mondial de marques de mode sportive, axé sur la mode athleisure et la livraison de produits de marques établies et nouvelles.
Hibbett, Inc. (Nasdaq/GS: HIBB) hat den Abschluss seiner Übernahme durch JD Sports Fashion plc bekannt gegeben, die am 25. Juli 2024 wirksam wird. Infolgedessen wird Hibbett kein eigenständig börsennotiertes Unternehmen mehr sein. Mike Longo wird weiterhin als Präsident und CEO fungieren, während Jared Briskin Chief Operating Officer wird. Das Unternehmen wird seinen Hauptsitz in Birmingham, Alabama, beibehalten.
Hibbett, mit 1.169 Filialen in 36 Bundesstaaten, ist bekannt für seinen sportlich inspirierten Modeeinzelhandel. Es wird erwartet, dass die Übernahme erhebliche Wachstumsmöglichkeiten durch starke Beziehungen zu Lieferanten, eine Omnichannel-Plattform und effiziente Lieferkettenoperationen bietet. JD Sports Fashion plc, gegründet 1981, ist ein globaler Omnichannel-Händler von Sportmode-Marken, der sich auf Athleisure-Mode konzentriert und Produkte von etablierten und neuen Marken anbietet.
- Hibbett joins JD Sports Fashion plc, potentially enhancing its market position
- Retention of key leadership with Mike Longo as CEO and Jared Briskin as new COO
- Complementary store footprint to JD's existing North American locations
- Access to JD's global omnichannel retail network and resources
- Potential for increased growth opportunities and vendor relationships
- Hibbett will cease to be a stand-alone publicly traded company
- Potential integration challenges with JD Sports Fashion plc
- Possible changes in corporate strategy and operations post-acquisition
The completion of Hibbett's acquisition by JD Sports Fashion plc marks a significant shift in the athletic retail landscape. This deal, valued at approximately
From an investor's perspective, this acquisition offers several key implications:
- Market Consolidation: The merger consolidates JD's position in the U.S., potentially increasing its bargaining power with suppliers and enhancing economies of scale.
- Complementary Footprint: Hibbett's 1,169 stores in 36 states, particularly in underserved communities, provide JD with a broader reach without significant overlap.
- Omnichannel Synergies: Hibbett's 'best-in-class omni-channel platform' could enhance JD's digital capabilities in the U.S. market.
- Brand Relationships: The acquisition leverages Hibbett's strong vendor relationships with coveted brands like Nike, Jordan and adidas, potentially strengthening JD's product offerings.
However, investors should also consider potential challenges:
- Integration Risks: Merging operations and cultures can be complex and may impact short-term performance.
- Market Saturation: The U.S. athletic wear market is highly competitive and JD will need to navigate this landscape carefully.
- Economic Headwinds: Consumer spending may be affected by inflationary pressures and economic uncertainty.
Overall, while the acquisition presents significant opportunities for growth and synergies, careful execution will be important for realizing its full potential.
The JD Sports-Hibbett merger represents a significant shift in the athletic retail sector, with far-reaching implications for market dynamics and consumer behavior. Here's a breakdown of the key factors at play:
Market Positioning: By acquiring Hibbett, JD Sports is strategically positioning itself to capture a larger share of the
Consumer Trends: The merger aligns with the growing 'athleisure' trend, which has seen a
Omnichannel Strategy: With e-commerce sales in the sportswear sector projected to grow at a CAGR of
Brand Relationships: The combined entity's enhanced bargaining power with key brands like Nike and adidas could lead to better product allocations and potentially exclusive collaborations, giving it a competitive edge in the market.
While the merger presents significant opportunities, success will hinge on effective integration and the ability to navigate the evolving retail landscape. Investors should monitor how well the combined entity leverages its expanded footprint and digital capabilities to drive growth in the competitive U.S. market.
Hibbett is now part of JD and will cease to be a stand-alone publicly traded company. Mike Longo will continue as President and Chief Executive Officer of Hibbett and Jared Briskin will assume the role of Chief Operating Officer. The Company will maintain its corporate headquarters in
Commenting on the completion of the transaction, Mr. Longo stated, “We are excited to complete this transaction and join JD. Hibbett and City Gear will continue to have significant growth opportunities thanks to our strong vendor relationships with highly coveted brands, best-in-class omni-channel platform and efficient supply chain operations. In addition, our store footprint is complementary and incremental to the other existing JD locations in
About Hibbett, Inc.
Hibbett, headquartered in
About JD Sports Fashion plc
Founded in 1981, the JD Group (“JD”) is a leading global omnichannel retailer of Sports Fashion brands. JD provides customers with the latest athleisure fashion through working with established and new brands to deliver products that our customers most want, across both footwear and apparel. The vision of JD is to inspire the emerging generation of consumers through a connection to the universal culture of sport, music and fashion. JD focuses on four strategic pillars: JD brand first, first priority, first in the world; leveraging complementary concepts to support JD global expansion; moving beyond physical retail by building the right infrastructure and creating a lifestyle ecosystem of relevant products and services; and doing the best for its people, partners and communities. JD is a constituent of the FTSE 100 index and had 3,300 stores worldwide at 4 May 2024.
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Robert Volke - SVP, Chief Financial Officer
Gavin Bell - VP, Finance & Investor Relations
(205) 944-1312
Source: Hibbett, Inc.
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