Acquisition (Tables)

12 Months Ended

Feb. 01, 2020

Schedule of Recognized Identified Assets Acquired and Liabilities Assumed

The following table summarizes the fair values of the identifiable assets acquired and liabilities assumed as of the acquisition date of November 4, 2018 (in thousands):


Assets Acquired:
Current assets:
Receivables	$	3,732
Inventories	44,807
Prepaid expense, other current and intangible assets	2,689
Total current assets	51,228
Goodwill	19,661
Property and equipment	16,530
Long-term intangible assets	33,503
Deposits and other assets	567
Deferred tax asset	638
Total assets	$	122,127

Liabilities Assumed:
Current liabilities:
Accounts payable	$	23,615
Other accrued expenses and intangible liabilities	3,526
Total current liabilities	27,141
Other long-term liabilities and intangible liabilities	3,234
Total liabilities	30,375
Total purchase price	$	91,752

Cash paid at closing	$	86,837
Fair value of contingent earnout	6,000
Net working capital and debt-like items adjustment	(1,085)

	$	91,752

Schedule of Goodwill

A reconciliation of goodwill from February 2, 2019 to February 1, 2020 consists of the following:


Balance - February 2, 2019	$	23,133
Purchase Price True-Up	(3,472)
Balance - February 1, 2020	$	19,661

Business Acquisition, Pro Forma Information

The following unaudited consolidated pro forma summary has been prepared by adjusting the Company’s historical data to give effect to the City Gear acquisition as if it had occurred on January 29, 2017 (the beginning of Hibbett’s fiscal year ended February 3, 2018). Both Hibbett and City Gear’s fiscal year statements of operations for the fiscal years ended February 2, 2019 and February 3, 2018 contained 52 weeks and 53 weeks of operations, respectively.


	Pro Forma - Unaudited Fiscal Year Ended
(in thousands, except per share data)	February 2, 2019		February 3, 2018
Net sales	$	1,152,628	$	1,158,701
Net income	$	27,265	$	31,673
Basic earnings per share	$	1.46	$	1.56
Diluted earnings per share	$	1.45	$	1.55