Hibbett Sporting Goods: Difference between revisions

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[[Image:Hibbett.jpg|right|175px]]
[[Image:Hibbett.jpg|right|175px]]
'''Hibbett Sporting Goods''' (Nasdaq: HIBB) is a [[Birmingham]]-based publicly-owned chain of sporting goods stores with over 750 locations. [[Jeffry Rosenthal]] was promoted to CEO effective [[March 15]], [[2010]]. Former CEO [[Mickey Newsome]], who has been with the company since the 1950s, is executive chairman. Corporate offices and the company's national distribution center are located at 451 [[Industrial Lane]] in the [[Oxmoor Industrial Park]].
'''Hibbett Sporting Goods''' was a [[Birmingham]]-based publicly-owned chain of sporting goods stores with 1,169 locations. For the year ending in February [[2024]], the company reported net sales of $1.7 billion and pre-tax profits of $131.6 million. The chain, which had traded on the NASDAQ exhange, was acquired by JD Sports of Bury, England in late [[2024]], and operates as a division of that company. Former CEO [[Michael Longo]] was retained as head of the division.
 
The company's offices are located in the former [[CVS Caremark Building]] at 2700 [[Milan Court]] in the [[Oxmoor Valley]]. Its distribution center moved from the [[Oxmoor Industrial Park]] to a site near the [[Shelby County Airport]] in [[Alabaster]] in [[2013]].


== History ==
== History ==
Hibbett was incorporated as '''Dixie Supply Company''' in [[1945]] in Florence by high school coach [[Rufus Hibbett]]. At first the company carried a wide range of athletic, marine and aviation equipment. When Hibbett's two sons joined the company in [[1952]], he changed the name to '''Hibbett & Sons''' and reoriented the business to focus on the team sports market. In the mid 1960s they started branching out and changed the name to Hibbett Sporting Goods, Inc.
Hibbett was incorporated as '''Dixie Supply Company''' in [[1945]] in Florence, Lauderdale County, by high school coach [[Rufus Hibbett]]. At first the company carried a wide range of athletic, marine and aviation equipment. When Hibbett's two sons joined the company in [[1952]], he changed the name to '''Hibbett & Sons''' and reoriented the business to focus on the team sports market. In the mid 1960s they started branching out and changed the name to Hibbett Sporting Goods Inc.


Hibbett sold the company to the Anderson family of Florence in [[1980]]. The Anderson's decided to target small and mid-sized markets, mainly in the South, avoiding direct competition with major national retailers and keeping operating and distribution costs low. Hibbett's also established a strong mall presence with their prototype 5,000 square foot '''Hibbett's Sports''' store, sometimes accompanied with a smaller '''Sports Additions''' footwear annex. The chain grew from 34 locations in [[1993]] to 41 in [[1994]], 60 in [[1995]].
Hibbett sold the company to the Anderson family of Florence in [[1980]]. The Anderson's decided to target small and mid-sized markets, mainly in the South, avoiding direct competition with major national retailers and keeping operating and distribution costs low. Hibbett's also established a strong mall presence with their prototype 5,000 square foot '''Hibbett's Sports''' store, sometimes accompanied with a smaller '''Sports Additions''' footwear annex. The chain grew from 34 locations in [[1993]] to 41 in [[1994]], 60 in [[1995]].
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The Andersons sold the growing company to the investment firm Saunders Karp & Company in 1995, and opened their first superstore '''Sports & Co.''' location in Huntsville that year. The larger format provided space for more "customer participation" such as basketball hoops and putting greens, as well as special appearances by athletes and other publicity events. In October 1996 Saunders Karp & Co. took Hibbett public. The company used the capital to fuel continued aggressive expansion. At the end of [[1997]] Hibbett Sporting Goods was operating 77 stores with retail sales of over $86 million. At the end of [[1998]] there were 120 stores in 14 states. [[1999]] was a record-breaking year for Hibbett, as net sales, profits and openings continued to accelerate.
The Andersons sold the growing company to the investment firm Saunders Karp & Company in 1995, and opened their first superstore '''Sports & Co.''' location in Huntsville that year. The larger format provided space for more "customer participation" such as basketball hoops and putting greens, as well as special appearances by athletes and other publicity events. In October 1996 Saunders Karp & Co. took Hibbett public. The company used the capital to fuel continued aggressive expansion. At the end of [[1997]] Hibbett Sporting Goods was operating 77 stores with retail sales of over $86 million. At the end of [[1998]] there were 120 stores in 14 states. [[1999]] was a record-breaking year for Hibbett, as net sales, profits and openings continued to accelerate.


The chain now has over 750 locations in 24 states, including 82 in [[Alabama]], and annual sales of over $500 million.  On February 11, [[2007]], the company changed its name to '''Hibbett Sports, Inc.'''  Hibbetts Sports is now the holding company of Hibbett Sporting Goods, Inc.
The chain now has over 800 locations in 26 states, including 82 in [[Alabama]], and annual sales of over $500 million.  On February 11, [[2007]], the company changed its name to '''Hibbett Sports, Inc.'''  Hibbett Sports is now the holding company of Hibbett Sporting Goods, Inc.
 
In July [[2012]] it was announced that the distribution center would be moved from [[Birmingham]]'s Oxmoor Valley to a new 360,000 square foot center just north of the [[Shelby County Airport]] in the [[ShelbyWest Industrial Park]] in [[Alabaster]]. The Alabaster site was chosen over a finalist site in Tupelo, Mississippi. The company's offices relocated to the former [[CVS Caremark Building]] on [[Milan Court]] near [[Red Mountain Park]] in [[2013]]. The new building includes space for displaying Newsome's extensive collection of sports memorabilia.
 
Hibbett opened its 1,000th store on [[May 1]], [[2015]] in Sealy, Texas. In December [[2018]] it acquired the Memphis-based athletic wear chain City Gear and promoted its CEO, Michael Longo, to chief executive of the combined company.
 
In [[2023]] the chain announced plans to add another 40 to 50 stores in the next year. In April [[2024]] it announced that it had agreed to be acquired by JD Sports.
 
==Chief executives==
* [[Mickey Newsome]], -March 15, 2010
* [[Jeff Rosenthal]], March 15, 2010-2019
* [[Michael Longo]], 2019-


== Birmingham area location ==
== Birmingham area location ==
===Current locations===
===Current locations===
* [[Alabaster]]:  [[Colonial Promenade Alabaster]], Suite 800
* [[Alabaster]]:  [[Propst Promenade]], Suite 800
* [[Bessemer]]:  726 [[Academy Drive Southwest]], Suite 112
* [[Bessemer]]:  726 [[Academy Drive Southwest]], Suite 112
* Bessemer:  4863 [[Promenade Parkway]], Suite 125
* Bessemer:  4863 [[Promenade Parkway]], Suite 125
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* [[Forestdale]]:  1982 [[Veterans Memorial Highway]]
* [[Forestdale]]:  1982 [[Veterans Memorial Highway]]
* [[Fultondale]]: 3433 [[Lowery Parkway]], Suite 610
* [[Fultondale]]: 3433 [[Lowery Parkway]], Suite 610
* [[Gardendale]]: 1036 [[Main Street (Gardendale)|Main Street]]
* [[Gardendale]]: 1036 [[Main Street (Gardendale)|Main Street]], [[Village Green Shopping Center]]
* [[Homewood]]:  [[Brookwood Village]], Space 247
* [[Homewood]]:  [[Brookwood Village]], Space 247
* [[Hoover]]: 1615 [[Montgomery Highway (Hoover)|Montgomery Highway]]
* [[Hoover]]: 1615 [[Montgomery Highway (Hoover)|Montgomery Highway]]
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==References==
==References==
* Milazzo, Don (February 20, 1995). "Hibbett to Relocate HQ and Warehouse to Oxmoor." ''Birmingham Business Journal''
* Milazzo, Don (February 20, 1995). "Hibbett to Relocate HQ and Warehouse to Oxmoor." {{BBJ}}
* Fickes, Michael (February 12, 2001). "Hibbett Grows By Staying Small". ''Sporting Goods Business'', p. 46.
* Fickes, Michael (February 12, 2001). "Hibbett Grows By Staying Small". ''Sporting Goods Business'', p. 46.
*Lemieux, Gloria A. (2006). "[http://www.referenceforbusiness.com/history/He-Ja/Hibbett-Sporting-Goods-Inc.html Hibbett Sporting Goods, Inc.]" Reference for Business. - accessed November 2, 2006
*Lemieux, Gloria A. (2006). "[http://www.referenceforbusiness.com/history/He-Ja/Hibbett-Sporting-Goods-Inc.html Hibbett Sporting Goods, Inc.]" Reference for Business. - accessed November 2, 2006
* "Hibbett's Newsome to be inducted into Sporting Goods Hall of Fame." (November 2, 2006). ''Birmingham Business Journal.''
* "Hibbett's Newsome to be inducted into Sporting Goods Hall of Fame." (November 2, 2006). {{BBJ}}
* "Hibbett sets up new holding company." [http://www.al.com/birminghamnews/business/index.ssf?/mtlogs/bama_bhamnews/archives/2007_02.html#236509 Breaking Business News], (February 12, 2007). ''Birmingham News''
* "Hibbett sets up new holding company." (February 12, 2007) {{BN}}
* DeButts, Jimmy. (March 31, 2009). "Hibbett plans 70 new stores." ''Birmingham Business Journal''.
* DeButts, Jimmy (March 31, 2009) "Hibbett plans 70 new stores." {{BBJ}}
* DeButts, Jimmy. (March 10, 2010).  "Hibbett Sports promotes Rosenthal to CEO." ''Birmingham Business Journal''.
* DeButts, Jimmy (March 10, 2010) "Hibbett Sports promotes Rosenthal to CEO." {{BBJ}}
* "[http://www.bizjournals.com/birmingham/news/2010/12/14/hibbett-sporting-goods-opens-new.html Hibbett Sporting Goods opens new Palisades location]"  (December 14, 2010) {{BBJ}}
* Wagner, Neal (July 9, 2012) "Hibbett moving distribution center to Alabaster" ''Shelby County Reporter''
* Patchen, Tyler (October 30, 2018) "Hibbett Sports acquires Memphis company in deal worth at least $88M." {{BBJ}}
* Patchen, Tyler (December 16, 2019) "New CEO named at Hibbett Sports." {{BBJ}}
* Thornton, William (February 22, 2020) "Hibbett looking forward in 75th year under new CEO." {{BN}}
* O'Leary, A. J. (September 7, 2023) "How Hibbett is navigating consumer spending changes." {{BBJ}}
* Thornton, William (April 23, 2024) "[https://www.al.com/business/2024/04/jd-sports-acquiring-birmingham-based-hibbett-in-11-billion-deal.html JD Sports acquiring Birmingham-based Hibbett in $1.1 billion deal]." {{AL}}


==External links==
==External links==
* [http://www.hibbett.com/ Hibbett Sports] website
* [http://www.hibbett.com/ Hibbett Sports] website


[[Category:Retail chains]]
[[Category:Hibbett Sporting Goods]]
[[Category:Major corporations]]
[[Category:1945 establishments]]
[[Category:2024 disestablishments]]
[[Category:Oxmoor Industrial Park]]
[[Category:Oxmoor Industrial Park]]
[[Category:Milan Court]]
[[Category:ShelbyWest Industrial Park]]
[[Category:Center Point Shopping Center]]
[[Category:Village Green Shopping Center]]
[[Category:Main Street (Gardendale)]]

Latest revision as of 09:53, 23 April 2024

Hibbett.jpg

Hibbett Sporting Goods was a Birmingham-based publicly-owned chain of sporting goods stores with 1,169 locations. For the year ending in February 2024, the company reported net sales of $1.7 billion and pre-tax profits of $131.6 million. The chain, which had traded on the NASDAQ exhange, was acquired by JD Sports of Bury, England in late 2024, and operates as a division of that company. Former CEO Michael Longo was retained as head of the division.

The company's offices are located in the former CVS Caremark Building at 2700 Milan Court in the Oxmoor Valley. Its distribution center moved from the Oxmoor Industrial Park to a site near the Shelby County Airport in Alabaster in 2013.

History

Hibbett was incorporated as Dixie Supply Company in 1945 in Florence, Lauderdale County, by high school coach Rufus Hibbett. At first the company carried a wide range of athletic, marine and aviation equipment. When Hibbett's two sons joined the company in 1952, he changed the name to Hibbett & Sons and reoriented the business to focus on the team sports market. In the mid 1960s they started branching out and changed the name to Hibbett Sporting Goods Inc.

Hibbett sold the company to the Anderson family of Florence in 1980. The Anderson's decided to target small and mid-sized markets, mainly in the South, avoiding direct competition with major national retailers and keeping operating and distribution costs low. Hibbett's also established a strong mall presence with their prototype 5,000 square foot Hibbett's Sports store, sometimes accompanied with a smaller Sports Additions footwear annex. The chain grew from 34 locations in 1993 to 41 in 1994, 60 in 1995.

The Andersons sold the growing company to the investment firm Saunders Karp & Company in 1995, and opened their first superstore Sports & Co. location in Huntsville that year. The larger format provided space for more "customer participation" such as basketball hoops and putting greens, as well as special appearances by athletes and other publicity events. In October 1996 Saunders Karp & Co. took Hibbett public. The company used the capital to fuel continued aggressive expansion. At the end of 1997 Hibbett Sporting Goods was operating 77 stores with retail sales of over $86 million. At the end of 1998 there were 120 stores in 14 states. 1999 was a record-breaking year for Hibbett, as net sales, profits and openings continued to accelerate.

The chain now has over 800 locations in 26 states, including 82 in Alabama, and annual sales of over $500 million. On February 11, 2007, the company changed its name to Hibbett Sports, Inc. Hibbett Sports is now the holding company of Hibbett Sporting Goods, Inc.

In July 2012 it was announced that the distribution center would be moved from Birmingham's Oxmoor Valley to a new 360,000 square foot center just north of the Shelby County Airport in the ShelbyWest Industrial Park in Alabaster. The Alabaster site was chosen over a finalist site in Tupelo, Mississippi. The company's offices relocated to the former CVS Caremark Building on Milan Court near Red Mountain Park in 2013. The new building includes space for displaying Newsome's extensive collection of sports memorabilia.

Hibbett opened its 1,000th store on May 1, 2015 in Sealy, Texas. In December 2018 it acquired the Memphis-based athletic wear chain City Gear and promoted its CEO, Michael Longo, to chief executive of the combined company.

In 2023 the chain announced plans to add another 40 to 50 stores in the next year. In April 2024 it announced that it had agreed to be acquired by JD Sports.

Chief executives

Birmingham area location

Current locations

Former locations

References

External links

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