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Hibbett, Inc. (Symbol: HIBB) is a prominent player in the retail sports goods industry, with its headquarters nestled in Birmingham, Alabama. The company has grown significantly since its humble beginnings as a neighborhood sporting goods store, now boasting over 1,080 stores across 35 states. Despite its expansion, Hibbett, Inc. remains committed to its core philosophy - 'It's all about the customer.'
Hibbett, Inc. operates through three main retail formats: Hibbett Sports, City Gear, and Sports Additions. Hibbett Sports is the primary format, offering a wide range of sporting goods, including apparel, footwear, accessories, and equipment for team sports. City Gear and Sports Additions are smaller-format stores that primarily focus on athletic footwear with a fashion-forward approach.
The company's product lineup is impressive, featuring top brands such as Nike, Under Armour, Adidas, The North Face, Jordan, and Costa. These brands ensure that customers have access to the latest products and exclusive items that are harder to find, helping athletes and sports enthusiasts stay ahead of the competition.
Hibbett, Inc. has not only focused on its product offerings but also on creating an exceptional shopping experience. The knowledgeable staff in their stores are dedicated to helping customers reach their next level of play, whether they are shopping for themselves or an entire team. This personalized customer service ethos is a key differentiator in the competitive retail landscape.
Financially, Hibbett, Inc. has demonstrated robust performance, leveraging its strategic presence in the South, Southwest, Mid-Atlantic, and Midwest regions of the United States. The company's growth is driven by its ability to adapt to market trends and consumer preferences, ensuring that it remains relevant in an ever-evolving market.
In recent developments, Hibbett, Inc. has continued to innovate and expand its product offerings and store formats. The company is constantly exploring new partnerships and collaborations with leading brands to enhance its product range and appeal to a broader audience. This forward-thinking approach positions Hibbett, Inc. as a dynamic and resilient player in the retail sports goods industry.
Stay updated with the latest news and developments from Hibbett, Inc. to keep a pulse on their performance, new product launches, and strategic initiatives. Whether you're an investor, a customer, or a sports enthusiast, Hibbett, Inc. offers a wealth of opportunities and insights.
Hibbett, Inc. (Nasdaq: HIBB) has officially changed its corporate name from Hibbett Sports, Inc., effective today. This rebranding reflects the company's shift towards athletic-inspired fashion, led by President and CEO Mike Longo. The new name emphasizes Hibbett's focus on delivering sought-after footwear and apparel, aiming to cater to underserved neighborhoods across the U.S. The company operates 1,071 specialty stores nationwide and continues to prioritize its omni-channel platform for customer accessibility.
Hibbett Sports, Inc. (Nasdaq/GS: HIBB) will hold a virtual Investor Day on June 24, 2021, starting at 9 a.m. ET. The presentation will be streamed live, featuring a Q&A session with the management team, and is expected to conclude by noon ET. A replay of the event will be available for 30 days after the live broadcast. Hibbett operates over 1,070 specialty stores across 35 states, offering athletic-inspired fashion and premium brands like Nike and Adidas.
Hibbett Sports (NASDAQ: HIBB) announced the opening of its latest store in Richmond, California, on June 19, 2021. This new location adds to Hibbett’s presence in the San Francisco Bay Area, catering to local sneaker enthusiasts. The boutique-style store spans over 5,000 sq ft and features exclusive footwear and athletic apparel from prominent brands like Nike and adidas. Customers can enjoy various shopping options including curbside pickup and a loyalty program called Hibbett Rewards. The grand opening event will feature promotions and door prizes for attendees.
Hibbett Sports (NASDAQ:HIBB) announced the opening of a new store in Richmond, Virginia, on June 1, 2021. Located at 7522 West Broad Street, the Grand Opening event is set for June 5, 2021. The new boutique-style store spans over 4,000 sq ft and features popular brands like Nike and Jordan, along with convenient shopping options including Buy Online Pick Up In Store. This marks the fourth Hibbett location in Richmond, enhancing customer access to premium athleisure and footwear.
Hibbett (NASDAQ:HIBB) announced the opening of a new City Gear store in Tallahassee, Florida, located at 1215 Apalachee Parkway, with a grand opening celebration on June 5, 2021. This marks the second City Gear location in Tallahassee, aimed at providing urban streetwear and footwear brands in a premium shopping experience. The 4,350 square-foot store features organized merchandise for easy shopping, exclusive brands, and convenient options like Buy Online Pick Up In Store. Hibbett operates over 1,000 stores nationwide, focusing on athletic-inspired fashion.
Hibbett Sports has expanded its stock repurchase program by $500 million, totaling $800 million, and extended it to February 1, 2025. This decision underscores the company's confidence in its financial health and future cash flow generation, allowing for potential buybacks in open market transactions as market conditions permit. As of May 26, 2021, Hibbett repurchased 7.47 million shares at around $201 million under the initial $300 million authorization. The company plans to acquire shares for tax withholding on restricted stock units without affecting the repurchase program.
Hibbett Sports, Inc. (Nasdaq/GS: HIBB) reported record financial results for Q1 ending May 1, 2021, showcasing a remarkable 87.8% increase in net sales to $506.9 million. Comparable sales surged by 87.3%, driven by strong customer engagement and government stimulus. Gross margin improved to 41.4%, up from 27.5% a year earlier, while net income reached $84.8 million, or $5.00 per diluted share. Despite success, inventory levels dropped 24.6% due to ongoing supply chain constraints. The company updated its guidance, projecting positive sales growth and plans for $45-50 million in capital investment for FY 2022.
Hibbett Sports (NASDAQ:HIBB) announced the release of the fourth episode of its Small-Town Sneakerhead video series on May 27, 2021. This installment features Bart Pittman, a sneaker collector from Cape Girardeau, Missouri, who shares insights into his collection of over 70 pairs and his passion for sneakers. The episode showcases local hotspots and highlights enthusiasms within sneaker culture. The series, launched in 2020, aims to celebrate sneaker collectors from small towns and will be available across various digital platforms.
Hibbett Sports, Inc. (Nasdaq/GS: HIBB) has appointed Ms. Linda Hubbard to its Board of Directors, effective immediately. This follows the retirement of Jane Aggers, keeping the Board size at 10. Ms. Hubbard, President and COO of Carhartt, holds extensive experience in corporate strategy and financial oversight. She joins the Audit Committee and will be a Class II Director until the 2022 Stockholders Meeting. Hubbard expressed eagerness to contribute to Hibbett's growth, particularly in e-commerce, leveraging her background in retail operations.
Hibbett (NASDAQ:HIBB) announced the grand opening of a new City Gear store in Lake Charles, Louisiana, on May 31, 2021. The store aims to serve the local community post-Hurricane Laura and has already provided donations to residents in need. This location features a curated selection of urban streetwear and footwear from top brands like Nike and Jordan, alongside convenient shopping options like Buy Online Pick Up In Store. The grand opening event will include giveaways and special promotions for attendees.
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