Hibbit Sports Live Oak Florida

Thursday, October 17, 2019 6:57:16 AM


Live Oak Hibbett Sports

Exact name of registrant as specified in its charter Delaware State or Other I. Employer Jurisdiction Identification No. If any of the securities being registered on this Form are to be offered on a delayed or continuous basis pursuant to Rule under the Securities Act of , check the following box.

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If this Form is a post-effective amendment filed pursuant to Rule c under the Securities Act, check the following box and list the Securities Act registration statement number of the earlier effective registration statement for the same offering.

If delivery of the prospectus is expected to be made pursuant to Rule , please check the following box. We may not sell these securities until the registration statement filed with the Securities and Exchange Commission is effective.

This prospectus is not an offer to sell these securities and it is not soliciting an offer to buy these securities in any state where the offer or sale is not permitted.

We will not receive any proceeds from the sale of the shares of common stock by the selling stockholders. See "Risk Factors" beginning on page 2. Neither the Securities and Exchange Commission nor any state securities commission has approved or disapproved of these securities or determined if this prospectus is truthful or complete.

Any representation to the contrary is a criminal offense. We have not authorized anyone to provide you with different information. We are not making an offer of these securities in any state where the offer is not permitted.

You should not assume that the information contained in this prospectus is accurate as of any date other than the date on the front of this prospectus. A number of factors could cause our actual results, performance, achievements or industry results to be materially different from any future results, performance or achievements expressed or implied by these forward-looking statements.

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These factors include, among others:. Accordingly, any forward-looking statements included in this prospectus do not purport to be predictions of future events or circumstances and may not be realized. Forward-looking statements can be identified by, among other things, the use of forward-looking terms such as "believes," "expects," "may," "will," "should," "seeks," "anticipates," "intends," or the negative of any of these terms, or comparable terminology, or by discussions of strategy or intentions.

Given these uncertainties, we caution investors not to place undue reliance on these forward-looking statements. We disclaim any obligation to update any of these factors or to publicly announce the results of any revisions to any of the forward-looking statements contained in this prospectus to reflect future events or developments.

We are a rapidly-growing operator of athletic sporting goods stores and we believe that we are the largest sporting goods retailer focused on small to mid-sized markets. Our stores offer a full line of quality athletic equipment, footwear and apparel at competitive prices with superior customer service.

We believe that our stores are among the primary retail distribution avenues for brand name vendors that seek to penetrate our target markets.

As of February 2, , we operated stores in 20 contiguous states in the southeast, mid-Atlantic, and midwest. Our Hibbett Sports stores average approximately 5, square feet and are located in dominant power strip centers, which are generally anchored by a Wal-Mart store, or in enclosed malls.

Although competitors in some markets may carry limited assortments of similar product lines and national brands, we believe that we compete effectively due to our extensive selection of traditional team and individual sports merchandise and our high level of customer service. In addition to our Hibbett Sports stores, we operated 16 Sports Additions stores and four Hibbett Superstores as of February 2, Since the beginning of fiscal year through fiscal year , we have expanded from 67 stores to stores.

From fiscal year through fiscal year net sales and diluted earnings per share have grown at compound annual growth rates of We have demonstrated positive comparable store sales increases every fiscal year since fiscal year and reported a comparable store sales increase of 2. We plan to open approximately 65 new Hibbett Sports stores in fiscal year and have opened eight of these stores through May 2, We have identified approximately potential markets for future Hibbett Sports stores within the states in which we operate and in certain contiguous states.

Our clustered expansion program, which calls for opening new stores within a two-hour driving distance of an existing Hibbett location, allows us to take advantage of efficiencies in distribution, marketing and regional management.

During the last half of fiscal , we expanded our distribution center to accommodate our recent growth and continued expansion. The facility can support up to stores without additional expansion.

We are incorporated under the laws of the State of Delaware. Our principal executive offices are located at Industrial Lane, Birmingham, Alabama and our telephone number is Recent Developments On January 10, , we announced a 3 for 2 stock split of our shares of common stock.

If any of the following risks actually occur, our business could be harmed. In that case, the trading price of our common stock could decline, and you might lose all or part of your investment.

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You should refer to the other information set forth in this prospectus and our consolidated financial statements and the related notes incorporated herein by reference. We may be unable to achieve our expansion plans for future growth. We have grown rapidly primarily through opening new stores, growing from 67 stores at the beginning of fiscal year to stores at February 2, Our continued growth will depend, in large part, upon our ability to open new stores in a timely manner and to operate them profitably.

Additionally, successful expansion is subject to various contingencies, many of which are beyond our control. These contingencies include, among others:. As our business grows, we will need to attract and retain additional qualified personnel in a timely manner and develop, train and manage an increasing number of management level sales and other employees.

We cannot assure you that we will be able to attract and retain personnel as needed in the future. If we are not able to hire capable store managers and other store level personnel, we will not be able to open new stores as planned and our revenue growth and operating results will suffer.

We cannot give any assurances that we will be able to continue our expansion plans successfully; that we will be able to achieve results similar to those achieved with prior locations; or that we will be able to continue to manage our growth effectively.

Our failure to achieve our expansion plans could materially adversely affect our business, financial condition and results of operations. In addition, our operating margins may be impacted in periods in which incremental expenses are incurred as a result of new store openings.

A downturn in the economy may affect consumer purchases of discretionary items, which could reduce our sales. In general, our sales represent discretionary spending by our customers.

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Discretionary spending is affected by many factors, including, among others, general business conditions, interest rates, the availability of consumer credit, taxation and consumer confidence in future economic conditions. Our customers' purchases of discretionary items, including our products, could decline during periods when disposable income is lower or periods of actual or perceived unfavorable economic conditions.

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  • No conclusions about a reduction of risk or severity of concussive injury should be drawn from impact absorption tests.
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If this occurs, our revenues and profitably will decline. In addition, our sales could be adversely affected by a downturn in the economic conditions in the markets in which we operate. Our inability to identify, and anticipate changes in, consumer demands and preferences and our inability to respond to such consumer demands in a timely manner could reduce our sales.

Our products appeal to a broad range of consumers whose preferences cannot be predicted with certainty and are subject to rapid change. Our success depends on our ability to identify product trends as well as to anticipate and respond to changing merchandise trends and consumer demand in a timely manner.

Accordingly, if:. In addition, we may be faced with significant excess inventory of some products and missed opportunities for other products, which would decrease our profitability. If we lose any of our key vendors or any of our key vendors fail to supply us with merchandise, we may not be able to meet the demand of our customers and our sales could decline.

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