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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 Sports, Inc. (Nasdaq/GS: HIBB) reported a strong fourth quarter and fiscal year 2021, ending January 30, 2021, with net sales increasing 20.4% to $376.8 million and a net income of $23.9 million, or $1.39 per diluted share. E-commerce sales grew 44.8%, contributing to a gross margin of 37.1%. For fiscal year 2021, sales reached $1.42 billion, a 19.9% increase. Looking ahead, Hibbett provided cautious guidance for fiscal 2022, anticipating comparable sales ranging from negative low-single digits to positive low-single digits.
Hibbett Sports (Nasdaq/GS: HIBB) has announced it will release its fourth quarter and year-end 2021 earnings on March 5, 2021, before the market opens. A conference call to discuss these results will take place at 10:00 a.m. ET on the same day, with live broadcast available on its website. Hibbett operates 1,067 stores and is known for its customer service and a range of popular athletic brands. Interested parties can access the earnings release and replay the conference call online for 30 days.
Hibbett Sports (NASDAQ:HIBB) has announced the opening of a new store in Colonial Heights, Virginia, on February 13, 2021. The 5,300 square foot boutique-style location features a variety of exclusive footwear, athletic apparel, and equipment from brands like Nike and adidas. Customers can take advantage of modern shopping options, including Buy Online Pick Up In Store and Curbside Pick Up. The grand opening will include giveaways and promotions. This marks Hibbett's first store in Colonial Heights, expanding its presence to nearly 1,100 locations across 35 states.
Hibbett Sports (NASDAQ:HIBB) has opened a new store in Vallejo, California, enhancing its reach in the region. This boutique-style location spans 4,900 square feet and offers exclusive footwear and athletic apparel from brands like Nike and adidas. Customers can enjoy shopping amenities like Buy Online Pick Up In Store and curbside pickup. The grand opening is scheduled for February 13, 2021, featuring promotions and giveaways. This marks the second Hibbett store in the area, following the Antioch location, as the company continues to expand its retail footprint nationwide.
Hibbett Sports (NASDAQ:HIBB) has opened a new store in Columbia, Alabama, enhancing its presence with its second location in the area. The 5,000-square-foot boutique is designed for easy navigation and features popular brands such as Nike, Jordan, and adidas. Shoppers will have convenient options, including Buy Online Pick Up In Store and curbside pickup. A Grand Opening event is scheduled for February 13, 2021, from 11 AM to 1 PM, with door prizes and promotions.
Hibbett Sports, Inc. (Nasdaq: HIBB) reported preliminary financial results for Q4 and FY 2021, highlighting a 21.9% increase in comparable sales for the fourth quarter, surpassing prior guidance. The adjusted diluted EPS is projected between $1.30 - $1.40, above previous estimates of $1.00 - $1.10. For FY 2022, comparable sales are expected to be flat to low-single-digit growth, with diluted EPS guidance set at $5.00 - $5.50. The company attributes strong performance to customer retention and effective inventory management amid ongoing market challenges.
Hibbett Sports (NASDAQ:HIBB) announces a unique partnership with Nike and NiceKicks for the Small-Town Sneakerhead campaign, launching on December 17, 2020. This initiative celebrates sneaker culture in small towns by featuring collectors and their stories. To promote the campaign, Hibbett is giving away $1000 gift cards to two winners who share their sneaker collections on social media. The series aims to engage with sneaker enthusiasts nationwide, showcasing individual stories from sneakerheads, including Cheyenne native Brett Drake.
Hibbett Sports reported strong financial results for Q3 2020, with net sales increasing 20.3% to $331.4 million. Comparable sales rose by 21.2%, fueled by new customer retention and back-to-school spending. Gross margin improved to 38.3%, up from 32.7% in the prior year, while net income surged to $25.3 million, or $1.47 per diluted share. E-commerce sales grew by 50.7%, comprising 13.2% of total sales. Hibbett anticipates continued momentum in Q4, projecting comparable sales growth in the high-single to low-double digits and gross margin improvement of approximately 380-400 basis points.
Hibbett Sports (NASDAQ: HIBB) has announced a significant restructuring of its Merchandising Leadership Team, aimed at enhancing consumer focus through a 'toe-to-head' strategy across product categories. The alignment includes the appointment of industry veteran Stephani Smith as VP/GMM Hibbett, who brings 27 years of experience from Nike. This new structure is designed to improve customer shopping experiences by closely targeting specific demographics, particularly women, thereby potentially strengthening Hibbett's market position in the athletic retail sector.
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