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Hibbett Sports is a sporting goods retailer that was founded in 1945. The company is headquartered in Birmingham, Alabama, and has over 1,000 stores across the United States. Hibbett Sports is a publicly traded company, and its stock is traded on the Nasdaq exchange.
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Who Owns Hibbett Sports?
Hibbett Sports is a publicly traded company, with shares listed on the Nasdaq under the ticker symbol HIBB. The company’s history dates back to 1945, when it was founded by Ward Hibbett in Birmingham, Alabama. Today, Hibbett Sports is a leading retailer of sporting goods and apparel, with over 1,000 stores across the United States.
Hibbett Sports is controlled by its largest shareholder, Ward Hibbett III (the son of the founder), who owns approximately 36% of the company’s outstanding shares. Other major shareholders include investment firms BlackRock (8%), Vanguard Group (7%), and State Street Global Advisors (5%).
The Company’s History
Hibbett Sports, Inc. is a publicly traded holding company for Hibbett Sporting Goods, Inc., a sporting goods retailer based in Birmingham, Alabama, with approximately 1,030 stores across the United States. The company was founded in 1938 by Harvard Hibbett and his brother Maurice “Hick” Hibbett.
The first store was located in Bessemer, Alabama, and focused on selling used sporting equipment. In the early 1950s, the company began selling new running shoes and expanded its offerings to include other sports equipment and apparel. By the 1970s, Hibbett Sports had grown to include locations in Mississippi and Georgia.
In 1982, Harvard Hibbett retired and sold the company to his son Robert “Bob” Hibbett. Bob Hibbett expanded the chain into Tennessee and Florida, and by 1992 there were 50 stores in operation. In 1996, Hibbett Sports went public on the Nasdaq Stock Market under the ticker symbol HIBB.
Today, Hibbett Sports operates in over 28 states throughout the Southeast, Midwest and Southwest regions of the United States. The company offers a wide variety of sporting goods products for athletes of all ages and levels of ability, including footwear, apparel, equipment and accessories.
The Company’s Business Model
Hibbett Sports, Inc. is a publicly traded company that operates sporting goods stores in small to mid-sized markets throughout the United States. The company was founded in 1945 by Howard Hibbett and is headquartered in Birmingham, Alabama. As of 2019, the company operated 1,049 stores in 36 states.
The company’s business model is based on offering a wide selection of sporting goods products at competitive prices, backed by excellent customer service. Hibbett Sports stores are typically located in strip malls and shopping centers near other retailers such as Walmart and Target. The company also operates an e-commerce website and mobile app, which offers a larger selection of products than what is available in their brick-and-mortar stores.
In recent years, Hibbett Sports has been facing increased competition from larger retailers such as Dick’s Sporting Goods and Academy Sports + Outdoors. As a result, the company has been working to improve its online presence and offerings in order to better compete against these larger competitors.
The Company’s Financials
Hibbett Sports, Inc. is a publicly traded company on the NASDAQ under the ticker symbol HIBB. As of March 2019, the company had a market capitalization of $648 million.
Hibbett Sports was founded in 1945 by widget salesman Howard Hibbett in Birmingham, Alabama. The company started as a small roadside shoe store and has since grown into a national sporting goods retailer with over 1,000 stores across the United States.
The company went public in 1996 and has been profitable every year since 2001. In 2017, Hibbett Sports had annual revenue of $889 million and net income of $46 million. The company’s revenue has grown at an annual rate of 5% over the last five years.
The Company’s Competitors
Hibbett Sports is an American sporting goods retailer with over 1,000 stores across the country. The company was founded in 1945 by Horace Hibbett and is headquartered in Birmingham, Alabama.
Hibbett Sports competes with a number of other sporting goods retailers, including Dick’s Sporting Goods, Academy Sports + Outdoors, and Sportsman’s Warehouse.
The Company’s Products
Hibbett Sports is a leading retailer of sporting goods and apparel, with over 1,000 stores across the United States. The company offers a wide range of products for a variety of sports, including basketball, baseball, football, golf, running, and more. Hibbett Sports also has a strong online presence, with an extensive website and online store.
Hibbett Sports was founded in 1945 by William “Hib” Hester in Birmingham, Alabama. Hibbett Sports began as a small neighborhood sporting goods store, but quickly grew to become one of the largest sporting goods retailers in the Southeast. The company went public in 1996 and has continued to grow and expand its operations in the years since. Today, Hibbett Sports is headquartered in Birmingham, Alabama and employs over 6,000 people.
The Company’s Marketing
Hibbett Sports, Inc. is a publicly traded retail company specializing in sporting goods, headquartered in Birmingham, Alabama. The company was founded in 1945 by Roy Hibbett and Jack Gavin in Martha’s Vineyard, Massachusetts. It operates in small to mid-sized markets predominantly in the southeastern United States. As of February 3, 2018, the Company operated 1,034 sporting goods stores under the “Hibbett Sports” name in 35 states.
The Company offers a wide range of nationally recognized brands of athletic footwear, apparel and equipment for a customer base primarily consisting of young men and women between the ages of 18 and 34 years old. Its merchandise mix includes sports performance products, casual apparel and footwear, as well as licensed team fan gear. The Company’s strategy is to continue to open new Hibbett Sports stores primarily in small cities and towns with populations of 20,000 to 40,000 people within its existing footprint.
The Company’s Stores
Hibbett Sports, Inc. is a publicly traded holding company for Hibbett Sporting Goods, a full-line sporting goods retailer. Though it is headquartered in Birmingham, Alabama, most of its stores are located in small to mid-sized communities in the Southern and Midwestern United States. As of February 3, 2018, Hibbett Sports operated 1,041 sporting goods stores in 35 states.
The Company’s eCommerce
In 2015, the company launched its e-commerce website, which offers a convenient way for customers to shop for Hibbett Sports products from the comfort of their own homes. The site features a wide selection of merchandise, including sports apparel, footwear, and equipment. Customers can also take advantage of free shipping on orders over $50.
In addition to its online presence, Hibbett Sports also operates a number of brick-and-mortar stores across the United States. The company currently has over 1,000 locations in 38 states.
The Company’s Future
It’s no secret that Hibbett Sports (NASDAQ:HIBB) is facing some tough times. The company reported a 26% decline in comparable sales during its most recent quarter, and its shares have lost more than half their value over the past year.
But despite all of the challenges that Hibbett is currently facing, I believe there’s still reason to be optimistic about the company’s future. Here are three reasons why I think Hibbett Sports could be a turnaround story in the making.
1. Hibbett is making progress on its turnaround plan.
Hibbett Sports has been working hard to turnaround its business, and it is starting to see some results from its efforts. Notably, the company’s comp sales declines have been getting smaller each quarter, and its gross margin improved by 160 basis points during the most recent quarter.
2. The company has a new CEO at the helm.
Hibbett Sports replaced longtime CEO Jeff Rosenthal with Michael Longo in August, and I believe Longo is the right person to lead the company through its current challenges. He has more than 30 years of experience in the retail industry, including stints at J.C. Penney (NYSE:JCP) and Kohl’s (NYSE:KSS), and he has a proven track record of successful turnarounds.
3. Hibbett Sports is working to reduce its debt burden.
One of the biggest concerns for investors in Hibbett Sports has been the company’s high debt levels. However, Hibbett is working to reducing its debt burden by selling non-core assets and reducing its inventory levels. The company has already sold more than $50 million worth of assets over the past year, and it plans to use the proceeds to pay down debt.
While there’s no guarantee that Hibbett Sports will be successful in turning itself around, I believe there are reasons to be optimistic about the company’s future prospects.
