HIBBETT INC

investors.hibbett.com

No Longer Reporting

The company has not filed an annual or quarterly report since its Q1 FY2025 10-Q, filed Jun 11, 2024. Its latest SEC filing is a SC 13G/A from Nov 13, 2024.

The sections below describe the company as of the FY2024 annual report.

What Did They Do?

Sells athletic footwear, apparel and team sports equipment to shoppers in underserved communities.

How Did They Make Money?

Footwear is Hibbett's largest business; shoppers pay for footwear, apparel and equipment when they receive their purchases.

revenue

Segment	Share	How money arrives
Footwear Sold outright	70% FY2021: 64%	Sold outright
Apparel Sold outright	19% FY2021: 27%	Sold outright
Equipment Sold outright	11% FY2021: 8.7%	Sold outright

Who Were Their Customers?

Customers, including its target Gen Z shoppers, buy directly in stores or through the website and mobile apps.

Did Revenues Turn Into Profits?

Yes. It kept 6 cents of every revenue dollar as net income in FY2024.

Operating income, FY2024

8% of revenue

▼ −19% vs FY2023 ($168.4M, 10%)

Net income, FY2024

6% of revenue

▼ −19% vs FY2023 ($128.1M, 7%)

How Were They Changing?

Since the FY2024 annual report

Latest quarter: Q1 FY2025, the three months to May 4, 2024

Revenue: ▼ −2%; vs $455.5M in Q1 FY2024
Net income: ▼ −9%; vs $35.9M in Q1 FY2024

Footwear share of revenue vs 70.4% in Q1 FY2024

Jul 25, 2024 JD Sports completed its acquisition of Hibbett Hibbett became a wholly owned subsidiary and ceased to be a stand-alone publicly traded company.
Apr 23, 2024 JD Sports agreed to acquire Hibbett The agreement set cash consideration at $87.50 per share.

Grew. Revenue grew 46% in 4 years, from $1.2B in FY2020 to $1.7B in FY2024, about 10% a year.

Revenue over time

Footwear Apparel Equipment

$2B$1B$0

FY2020 FY2021 FY2022 FY2023 FY2024

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