Hibbett Sports, Inc. is an American sporting goods company that specializes in baseball, basketball, football, soccer, and track and field equipment. The company was founded in 1951 in Columbus, Ohio, and is now headquartered in Winston-Salem, North Carolina. Hibbett Sports is the Official Sporting Goods Provider of Major League Baseball and the National Football League.

It has also been the Official Baseball Supplier of the NBA since the 1986-87 season. Hibbett Sports is a publicly traded company based in Birmingham, Alabama that operates sporting goods stores in small to mid-sized markets throughout the United States. As of January 30, 2016, the company operated 1,049 stores in 35 states. The company was founded in 1945 by Howard Hibbett, who started the business by selling sports equipment out of the trunk of his car.

In 1955, the company opened its first retail store in Birmingham. In 1992, the company went public, and in 1996, it began to franchise its stores. The company’s products include athletic shoes, apparel, and equipment for a variety of sports, including baseball, football, basketball, and golf. The company also sells a variety of fan gear for college and professional sports teams.

Hibbett Sports has been a sponsor of Major League Baseball’s Birmingham Barons minor league baseball team since 2013. The company is also a sponsor of the University of Alabama athletics program. In 2015, the company reported net sales of $849.8 million and net income of $21.1 million. The company’s stock is traded on the Nasdaq Stock Market under the ticker symbol HIBB.

Hibbett Sports – History

Hibbett Sports is a leading athletic-inspired retailer with more than 1,000 locations nationwide. The company offers a broad assortment of sporting goods, including equipment, apparel and footwear. Hibbett Sports also provides equipment rental, team sales and league sponsorship.

The company was founded in 1945 by Walter Hibbett and Harry Wampler. The first Hibbett Sport store was located in Birmingham, Alabama. The company has since expanded to include locations in Alabama, Arkansas, Florida, Georgia, Kentucky, Louisiana, Mississippi, Missouri, North Carolina, Oklahoma, South Carolina, Tennessee, Texas and Virginia.

Hibbett Sports is a publicly traded company on the Nasdaq Stock Market under the ticker symbol HIBB. The company is headquartered in Birmingham, Alabama. In 2012, Hibbett Sport was named one of the “100 Best Companies to Work For” by FORTUNE magazine.

Hibbett Sports – Products and Services

Hibbett Sports is a publicly traded company based in Birmingham, Alabama that operates sporting goods stores in small to mid-sized markets in the United States. As of February 1, 2020, the company operated 1,049 stores in 35 states. Hibbett Sports has been in business since 1945. The company offers a wide range of sports equipment, apparel and footwear from brands like Nike, Adidas, Under Armor, Reebok, Asics, New Balance and Mizuno.

Hibbett Sports also offers a loyalty program called MVP Rewards, which gives members access to exclusive discounts and offers. Hibbett Sport was founded in 1945 by Walter H. Hibbett and Marvin R. Sprecher. The first store was located in Bessemer, Alabama. The company went public in 1996 and has since grown to over 1,000 stores across the United States.

In 2014, Hibbett Sports launched Hibbett University, an online learning platform that offers employees the opportunity to take courses and earn certifications in a variety of subjects, including customer service, leadership and sales. In 2015, the company launched a new e-commerce platform that offers customers the ability to shop online and pick up their orders in-store.

Hibbett Sport also offers a mobile app that allows customers to shop, track their MVP Rewards points and find store locations. In 2017, Hibbett Sports opened its first international store in Mexico. The company plans to continue expanding its reach both domestically and internationally in the coming years.

Hibbett Sports – Marketing and Advertising

Hibbett Sports is a sporting goods retailer that offers a wide variety of sporting goods and equipment. The company has a strong focus on customer service and offers a variety of services to its customers. Hibbett Sport has a wide range of products that are available for purchase online and in stores. The company offers a variety of payment options, including credit cards, PayPal, and cash. Hibbett Sports also offers a loyalty program that gives customers discounts on future purchases.

Hibbett Sports – Financials

Hibbett Sports is a leading athletic footwear and apparel retailer, operating Hibbett Sport and City Gear stores in small to mid-sized markets throughout the United States. Our mission is to provide our customers with a superior shopping experience and excellent customer service, while offering a broad selection of quality, brand-name sporting goods products and services at a fair price in convenient locations. As of February 2, 2019, we operated 1,041 Hibbett Sports and City Gear stores in 35 states.

Income Statement:

The company’s net sales increased from $849.9 million in fiscal 2017 to $876.1 million in fiscal 2018. The increase was due to new store openings and a 1.9% increase in comparable store sales. Comparable store sales increased due to an increase in the average transaction value and a slightly higher traffic count. The company’s gross margin decreased from 37.2% in fiscal 2017 to 36.7% in fiscal 2018. Due to higher markdowns taken to clear seasonal inventory and increased transportation costs.

These factors were partially offset by higher merchandise margins and a decrease in store occupancy costs as a percentage of sales. The company’s selling, general, and administrative (“SG&A”) expenses increased from $294.4 million in fiscal 2017 to $302.4 million. Fiscal 2018 due to higher store labor costs and higher credit card fees, partially offset by lower advertising expenses. The company’s operating income decreased from $62.2 million in fiscal 2017 to $57.0 million in fiscal 2018.

Balance Sheet:

The company’s total assets increased from $849.2 million at the end of fiscal 2017 to $880.9 million at the end of fiscal 2018. The increase was due to new store openings and capital expenditures, partially offset by a decrease in cash and cash equivalents. The company’s total liabilities increased from $316.5 million at the end of fiscal 2017 to $341.8 million at the end of fiscal 2018. The increase was due to new store openings and an increase in the company’s accounts payable and accrued expenses. The company’s shareholders’ equity increased from $532.7 million at the end of fiscal 2017 to $539.

Hibbett Sports – SWOT Analysis

Hibbett Sports is an American sporting goods retailer that specializes in selling athletic footwear, apparel, and equipment. The company operates Hibbett Sport stores in small to mid-sized markets throughout the United States. As of February 2, 2019, Hibbett Sports operated 1,041 stores in 35 states.  The company was founded in 1945 by Walter Hibbett as a neighborhood sporting goods store in Birmingham, Alabama.

The company went public in 1992 and has been traded on the Nasdaq Stock Market since 2006.  In October 2012, the company announced plans to enter the e-commerce market. In 2015, the company acquired City Gear, a Memphis, Tennessee-based retailer of urban fashion footwear, apparel, and accessories.

The following is a SWOT analysis of Hibbett Sports:

Strengths: 

• Strong brand recognition
• Diversified product mix
• Loyal customer base
• Strong store-level management

Weaknesses: 

• Smaller store footprint
• Limited e-commerce presence
• Dependence on key suppliers

Opportunities: 

• Expansion into new markets
• Growth of e-commerce
• Acquisition of complementary businesses

Threats: 

• Intense competition
• Changing consumer tastes
• Seasonality of product demand

Hibbett Sports – Future Plans

Hibbett Sports is a leading athletic footwear and apparel retailer with more than 1,000 stores across the United States. The company plans to open 100 new stores in 2019, including its first stores in California and Nevada. Hibbett Sports also plans to expand its e-commerce business and launch a new loyalty program. Hibbett Sport was founded in 1945 as a small neighborhood sporting goods store in Birmingham, Alabama.

The company has grown to become one of the largest sporting goods retailers in the United States. Hibbett Sport operates in more than 28 states and offers a wide selection of athletic footwear, apparel, and equipment for men, women, and children. The company plans to continue its aggressive expansion in 2019, with the goal of opening 100 new stores.

Hibbett Sports plans to enter the California and Nevada markets for the first time, with the opening of stores in Los Angeles and Las Vegas. The company is also planning to expand its e-commerce business and launch a new loyalty program. Hibbett Sport’ expansion plans are part of the company’s strategy to become the leading athletic retailer in the United States. The company plans to continue to invest in its store base, e-commerce platform, and loyalty program to drive growth.