8-K

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 OR 15(d) of The Securities Exchange Act of 1934

Date of Report (Date of earliest event reported) November 22, 2013

Hibbett Sports, Inc.

(Exact Name Of Registrant As Specified In Its Charter)

Delaware	000-20969	20-8159608
(State of Incorporation)	(Commission	(IRS Employer
	File Number)	Identification No.)

2700 Milan Court

Birmingham, Alabama  35211

(Address of principal executive offices)

(205) 942-4292

(Registrant's telephone number, including area code)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

□Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

□Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

□Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

□Pre commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Item 2.02.  Results of Operations and Financial Condition.

The Company released its results of operations for the thirteen-week and thirty-nine week periods ended November 2, 2013, in a press release issued on November 22, 2013.

The information in this Item, including Exhibit 99.1 attached hereto, shall not be deemed "filed" for the purposes of Section 18 of the Securities Exchange Act of 1934, or otherwise subject to the liabilities of that section.  It may be incorporated by reference in another filing under the Exchange Act or Securities Act of 1933 if such subsequent filing specifically references this Form 8-K.

Item 7.01.  Regulation FD Disclosures.

The information contained in Item 2.02 (including disclaimer) is incorporated by reference into this item 7.01.

Item 9.01.  Financial Statements and Exhibits.

(d) Exhibits.

Exhibit 99.1 is furnished pursuant to Item 2.02 and shall not be deemed to be "filed".

Exhibit No.	Description
99.1	Press Release Dated  November 22, 2013

SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

HIBBETT SPORTS, INC.
By:	/s/ Scott J. Bowman
	Scott J. Bowman
	Senior Vice President and Chief Financial Officer

November 22, 2013

EXHIBIT INDEX

Exhibit No.	Description
99.1	Press Release Dated November 22, 2013

EX-99.1

EXHIBIT 99.1

Contact:	Scott J. Bowman
	Senior Vice President &
	Chief Financial Officer
	(205) 942-4292

HIBBETT REPORTS THIRD QUARTER FISCAL 2014 RESULTS

· Comparable Store Sales Increase 4.8%

· Square Footage Increases 7.3%

· EPS Impacted By Shift in Fiscal Calendar

BIRMINGHAM, Ala. (November 22, 2013) – Hibbett Sports, Inc. (NASDAQ/GS: HIBB), a sporting goods retailer, today announced results for the third quarter ended November 2, 2013.

Third Quarter Results

Net sales for the 13-week period ended November 2, 2013 increased 2.5% to $208.0 million compared with $202.9 million for the 13-week period ended October 27, 2012.  Comparable store sales increased 4.8% on a calendar basis (comparable 13-week period).  The 53rd week last year  resulted in a calendar shift and as a result, revenue was approximately $14 million (7.1%) lower in the third quarter compared to the reported period last year.

Gross profit was 36.8% of net sales for the 13-week period ended November 2, 2013, compared with 37.2% for the 13-week period ended October 27, 2012.

Store operating, selling and administrative expenses were 21.9% of net sales for the 13-week period ended November 2, 2013, compared with 20.7% of net sales for the 13-week period ended October 27, 2012.

Net income for the 13-week period ended November 2, 2013 decreased 9.0% to $17.3 million compared with $19.0 million for the 13-week period ended October 27, 2012.  Earnings per diluted share decreased 7.0% to $0.66 for the 13-week period ended November 2, 2013, compared with $0.71 for the 13-week period ended October 27, 2012.  The week shift associated with the fiscal calendar resulted in an approximate $0.11 reduction in earnings per diluted share for the period ended November 2, 2013.

Fiscal Year to Date Results

Net sales for the 39-week period ended November 2, 2013 increased 5.5% to $634.2 million compared with $601.3 million for the 39-week period ended October 27, 2012.  Comparable store sales increased 1.8% on a calendar basis (comparable 39-week period).

Gross profit was 36.5% of net sales for the 39-week period ended November 2, 2013, compared with 36.7% for the 39-week period ended October 27, 2012.

Store operating, selling and administrative expenses were 21.2% of net sales for the 39-week period ended November 2, 2013, compared with 20.9% of net sales for the 39-week period ended October 27, 2012.

Net income for the 39-week period ended November 2, 2013 was $54.0 million compared with $53.2 million for the 39-week period ended October 27, 2012.  Earnings per diluted share increased 3.0% to $2.05 for the 39-week period ended November 2, 2013, compared with $1.99 for the 39-week period ended October 27, 2012.

Jeff Rosenthal, President and Chief Executive Officer, stated, "We delivered solid comparable store sales in the quarter driven by a strong Back to School led by improved performance in footwear, apparel, and accessories.  Demand for our fall assortment has been positive as well, and we are well positioned going into the holiday season.  We continue to be encouraged by the pace and performance of new store openings, and feel confident that our investments in the business will provide a solid foundation for future success."

For the quarter, Hibbett opened 16 new stores, expanded 4 high performing stores and closed 4 underperforming stores, bringing the store base to 904 in 31 states as of November 2, 2013. For Fiscal 2014, the Company expects to open 72 to 75 new stores, expand approximately 15 high performing stores and close 17 to 20 stores.

Liquidity and Stock Repurchases

Hibbett ended the third quarter of Fiscal 2014 with $69.9 million of available cash and cash equivalents on the consolidated balance sheet, no bank debt outstanding and full availability under its $80.0 million unsecured credit facilities.

During the third quarter, the Company repurchased 134,406 shares of common stock for a total expenditure of $7.1 million.  Approximately $230.9 million of the total authorization remained for future stock repurchases as of November 2, 2013.

Fiscal 2014 Outlook

The Company narrowed its guidance for the 52 weeks ending February 1, 2014, to earnings per diluted share in the range of $2.68 to $2.77, and an increase in comparable store sales (on a calendar basis) in the low single-digit range.  This compares to previous guidance of earnings per diluted share in the range of $2.65 to $2.77, and an increase in comparable store sales (on a calendar basis) in the low single-digit range.  Please note that Fiscal 2013 had an approximate $0.07 benefit in earnings per diluted share due to the 53^rd week.

Investor Conference Call and Simulcast

Hibbett Sports, Inc. will conduct a conference call at 10:00 a.m. ET on Friday, November 22, 2013, to discuss third quarter Fiscal 2014 results.  The number to call for the live interactive teleconference is (212) 231-2921.  A replay of the conference call will be available until November 29, 2013, by dialing (402) 977-9140 and entering the passcode, 21646060.

The Company will also provide an online Web simulcast and rebroadcast of its third quarter Fiscal 2014 conference call.  The live broadcast of Hibbett's quarterly conference call will be available online at www.hibbett.com under Investor Relations, or www.streetevents.com, on November 22, 2013, beginning at 10:00 a.m. ET.  The online replay will follow shortly after the call and be available for replay for one year.

Hibbett Sports, Inc. operates sporting goods stores in small to mid-sized markets, predominately in the South, Southwest, Mid-Atlantic and Midwest regions of the United States.  The Company's primary store format is Hibbett Sports, a 5,000-square-foot store located in strip centers and enclosed malls.

A WARNING ABOUT FORWARD LOOKING STATEMENTS:  Certain matters discussed in this press release are "forward looking statements" as that term is used in the Private Securities Litigation Reform Act of 1995.  Forward looking statements address future events, developments or results and typically use words such as believe, anticipate, expect, intend, plan, forecast, guidance, outlook, or estimate.  For example, our forward looking statements include statements regarding store opening, expansion and closing plans, liquidity, sales trends, margin trends, the effects of calendar shifts, earnings per diluted share and comparable store sales.  Such statements are subject to risks and uncertainties that could cause actual results to differ materially, including economic conditions, industry trends, merchandise trends, vendor relationships, customer demand, and competition.  For a discussion of these factors, as well as others which could affect our business, you should carefully review our Annual Report and other reports filed from time to time with the Securities and Exchange Commission, including the "Risk Factors," "Business" and "MD&A" sections in our Annual Report on Form 10-K filed on April 1, 2013 and in our Quarterly Reports on Form 10-Q filed on June 10, 2013 and September 9, 2013. In light of these risks and uncertainties, the future events, developments or results described by our forward looking statements in this document could turn out to be materially and adversely different from those we discuss or imply.  We are not obligated to release publicly any revisions to any forward looking statements contained in this press release to reflect events or circumstances occurring after the date of this report and you should not expect us to do so.

-MORE-

HIBBETT SPORTS, INC. AND SUBSIDIARIES
Unaudited Condensed Consolidated Statements of Operations
(Dollars in thousands, except per share amounts)
	Thirteen Weeks Ended				Thirty-Nine Weeks Ended
	November 2, 2013		October 27, 2012		November 2, 2013		October 27, 2012
Net sales	$	207,971	$	202,934	$	634,198	$	601,293
Cost of goods sold, distribution center and store occupancy costs		131,483		127,494		402,907		380,900
Gross profit		76,488		75,440		231,291		220,393
Store operating, selling and administrative expenses		45,496		41,933		134,251		125,705
Depreciation and amortization		3,549		3,207		10,193		9,613
Operating income		27,443		30,300		86,847		85,075
Interest expense, net		55		39		142		127
Income before provision for income taxes		27,388		30,261		86,705		84,948
Provision for income taxes		10,138		11,296		32,700		31,725
Net income	$	17,250	$	18,965	$	54,005	$	53,223
Net income per common share:
Basic earnings per share	$	0.67	$	0.73	$	2.09	$	2.03
Diluted earnings per share	$	0.66	$	0.71	$	2.05	$	1.99
Weighted average shares outstanding:
Basic		25,823		26,125		25,893		26,234
Diluted		26,282		26,613		26,309		26,738

HIBBETT SPORTS, INC. AND SUBSIDIARIES
Unaudited Condensed Consolidated Balance Sheets
(In thousands)
	November 2, 2013		February 2, 2013
Assets
Cash and cash equivalents	$	69,937	$	76,911
Accounts receivable, net		6,785		5,954
Inventories, net		230,172		221,378
Prepaid expenses and other		21,734		17,371
Total current assets		328,628		321,614
Property and equipment, net		81,169		49,076
Other assets		6,430		6,641
Total assets	$	416,227	$	377,331
Liabilities and Stockholders' Investment
Accounts payable	$	93,164	$	102,021
Short-term capital leases		682		714
Accrued expenses		18,351		15,980
Total current liabilities		112,197		118,715
Non-current liabilities		18,735		19,489
Stockholders' investment		285,295		239,127
Total liabilities and stockholders' investment	$	416,227	$	377,331

HIBBETT SPORTS, INC. AND SUBSIDIARIES
Supplemental Information
(Unaudited)
	Thirteen Weeks Ended						Thirty-Nine Weeks Ended
	November 2, 2013			October 27, 2012			November 2, 2013			October 27, 2012
Sales Information
Net sales increase		2.5	%		9.6	%		5.5	%		10.9	%
Comparable store sales increase		4.8	%1		6.4	%2		1.8	%1		7.7	%2
Store Count Information
Beginning of period		892			837			873			832
New stores opened		16			13			42			27
Stores closed		(4	)		(2	)		(11	)		(11	)
End of period		904			848			904			848
Stores expanded		4			4			11			10
Estimated square footage at end of period (in thousands)		5,216			4,860
Balance Sheet Information
Average inventory per store	$	254,615		$	244,437
Share Repurchase Program
Shares		134,406			206,729			344,197			700,132
Cost (in thousands)	$	7,142		$	11,822		$	18,771		$	38,843
1) Represents the increase in comparable store sales for the period ended November 3, 2012 to the period ended November 2, 2013.
2) As originally reported for the period ended October 27, 2012.

Due to the 53rd week in Fiscal 2013, each quarter in Fiscal 2014 starts one week later than the same quarter in Fiscal 2013. The chart below presents comparable store sales for Fiscal 2013 as originally reported and as adjusted to represent the same 13-week period as the Fiscal 2014 quarters.
	Fiscal 2013
	First Quarter			Second Quarter			Third Quarter			Fourth Quarter			Full Year
Comparable store sales increase (originally reported)		11.1	%		4.8	%		6.4	%		4.9	%		6.9	%
Comparable store sales increase (adjusted for week shift)		8.6	%		12.5	%		-0.7	%		4.4	%		6.0	%
Impact of week shift		-2.5	%		7.7	%		-7.1	%		-0.5	%		-0.9	%

END OF EXHIBIT 99.1