Liquidity and Stock Repurchases
Hibbett ended Fiscal 2012 with $55.1 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 fourth quarter, the Company repurchased 225,170 shares of common stock for a total expenditure of $10.1 million. Approximately $144.7 million of the current $250.0 million authorization remains for future stock repurchases.
Fiscal 2013 Outlook
The Company anticipates its earnings for the 53-week period ending February 2, 2013, to be within a range of $2.35 to $2.55 per diluted share (which includes an expected contribution of $0.07 to $0.09 per diluted share from the 53
week) and comparable store sales to increase in the low to mid single digit range. For Fiscal 2013, the Company expects to open 55 to 60 new stores, expand approximately 15 high performing stores and close up to 18 stores.
Investor Conference Call and Simulcast
Hibbett Sports, Inc. will conduct a conference call at 10:00 a.m. ET on Friday, March 9, 2012, to discuss fourth quarter and Fiscal 2012 results. The number to call for the live interactive teleconference is (212) 231-2934. A replay of the conference call will be available until March 16, 2012, by dialing (402) 977-9140 and entering the passcode, 21577065.
The Company will also provide an online Web simulcast and rebroadcast of its Fiscal 2012 fourth quarter conference call. The live broadcast of Hibbett’s quarterly conference call will be available online at
under Investor Relations,
on Friday, March 9, 2012, beginning at 10:00 a.m. ET. The online replay will follow shortly after the call and continue through March 16, 2012.
Hibbett Sports, Inc. operates sporting goods stores in small to mid-sized markets, predominately in the Southeast, Southwest, Mid-Atlantic and the lower 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.