Delaware
|
000-20969
|
20-8159608
|
(State of Incorporation)
|
(Commission
|
(IRS Employer
|
File Number)
|
Identification No.)
|
Nominee
|
For
|
Against
|
Withheld
|
Broker Non-Votes
|
||||
Michael J. Newsome
|
|
19,741,160
|
832,252
|
3,518
|
999,010
|
|||
Alton E. Yother
|
20,316,194
|
257,218
|
3,518
|
999,010
|
For
|
Against
|
Abstain
|
Broker Non-Votes
|
|||
21,465,619
|
104,124
|
6,197
|
--
|
For
|
Against
|
Abstain
|
Broker Non-Votes
|
|||
20,392,010
|
163,873
|
21,047
|
999,010
|
For
|
Against
|
Abstain
|
Broker Non-Votes
|
|||
20,140,832
|
431,788
|
4,310
|
999,010
|
Exhibit No.
|
Description
|
99.1
|
Press Release Dated May 20, 2016
|
HIBBETT SPORTS, INC.
|
||
By:
|
/s/ Scott J. Bowman
|
|
Scott J. Bowman
|
||
Senior Vice President and Chief Financial Officer
|
Exhibit No.
|
Description
|
99.1
|
Press Release Dated May 20, 2016
|
Contact:
|
Scott J. Bowman
|
|
Senior Vice President &
|
||
Chief Financial Officer
|
||
(205) 942-4292
|
·
|
EPS increases 12% to $1.22 Per Diluted Share
|
·
|
Gross Margin Improves vs. Prior Year
|
·
|
Company Maintains Annual Guidance
|
HIBBETT SPORTS, INC. AND SUBSIDIARIES
|
||||||||
Unaudited Condensed Consolidated Statements of Operations
|
||||||||
(Dollars in thousands, except per share amounts)
|
||||||||
Thirteen Weeks Ended
|
||||||||
April 30,
2016 |
May 2,
2015 |
|||||||
Net sales
|
$
|
282,092
|
$
|
269,823
|
||||
Cost of goods sold, wholesale and logistics facility and store occupancy costs
|
177,090
|
170,109
|
||||||
Gross profit
|
105,002
|
99,714
|
||||||
Store operating, selling and administrative expenses
|
56,061
|
51,769
|
||||||
Depreciation and amortization
|
4,599
|
4,142
|
||||||
Operating income
|
44,342
|
43,803
|
||||||
Interest expense, net
|
65
|
70
|
||||||
Income before provision for income taxes
|
44,277
|
43,733
|
||||||
Provision for income taxes
|
16,371
|
16,325
|
||||||
Net income
|
$
|
27,906
|
$
|
27,408
|
||||
|
||||||||
Net income per common share:
|
||||||||
Basic earnings per share
|
$
|
1.23
|
$
|
1.10
|
||||
Diluted earnings per share
|
$
|
1.22
|
$
|
1.09
|
||||
|
||||||||
Weighted average shares outstanding:
|
||||||||
Basic
|
22,780
|
24,860
|
||||||
Diluted
|
22,947
|
25,069
|
HIBBETT SPORTS, INC. AND SUBSIDIARIES
|
||||||||
Unaudited Condensed Consolidated Balance Sheets
|
||||||||
(In thousands)
|
||||||||
April 30,
2016 |
January 30,
2016 |
|||||||
Assets
|
||||||||
Cash and cash equivalents
|
$
|
73,415
|
$
|
32,274
|
||||
Inventories, net
|
251,841
|
283,099
|
||||||
Other current assets
|
15,728
|
14,995
|
||||||
Total current assets
|
340,984
|
330,368
|
||||||
Property and equipment, net
|
103,446
|
101,389
|
||||||
Other assets
|
8,522
|
10,615
|
||||||
Total assets
|
$
|
452,952
|
$
|
442,372
|
||||
|
||||||||
Liabilities and Stockholders' Investment
|
||||||||
Accounts payable
|
$
|
65,672
|
$
|
88,456
|
||||
Short-term capital leases
|
500
|
478
|
||||||
Accrued expenses
|
27,011
|
16,256
|
||||||
Total current liabilities
|
93,183
|
105,190
|
||||||
Non-current liabilities
|
27,358
|
26,336
|
||||||
Stockholders' investment
|
332,411
|
310,846
|
||||||
Total liabilities and stockholders' investment
|
$
|
452,952
|
$
|
442,372
|
HIBBETT SPORTS, INC. AND SUBSIDIARIES
|
||||||||
Supplemental Information
|
||||||||
(Unaudited)
|
||||||||
Thirteen Weeks Ended
|
||||||||
April 30,
2016 |
May 2,
2015 |
|||||||
Sales Information
|
||||||||
Net sales increase
|
4.6
|
%
|
3.0
|
%
|
||||
Comparable store sales (decrease) increase
|
1.1
|
%
|
-0.9
|
%
|
||||
Store Count Information
|
||||||||
Beginning of period
|
1,044
|
988
|
||||||
New stores opened
|
17
|
15
|
||||||
Stores closed
|
(8
|
)
|
(2
|
)
|
||||
End of period
|
1,053
|
1,001
|
||||||
Stores expanded
|
1
|
3
|
||||||
Estimated square footage at end of period (in thousands)
|
6,019
|
5,724
|
||||||
|
||||||||
Balance Sheet Information
|
||||||||
Average inventory per store
|
$
|
239,166
|
$
|
233,125
|
||||
Share Repurchase Program
|
||||||||
Shares
|
237,382
|
194,764
|
||||||
Cost (in thousands)
|
$
|
8,316
|
$
|
9,464
|