BIRMINGHAM, Ala.--(BUSINESS WIRE)--Jul. 9, 2012--
Hibbett Sports, Inc. (NASDAQ/GS: HIBB), a sporting goods retailer, today
announced plans to build, through a wholly owned subsidiary, a
wholesaling and logistics facility in Alabaster, Alabama. Construction
on the new 360,000-square-foot facility is expected to commence in Fall
2012 with the facility expected to be fully operational by Fall 2014.
Located on approximately 60 acres of land adjacent to Shelby County
Airport and I-65, the new facility can be expanded up to 500,000 square
feet. When completed, it will replace the existing 180,000-square-foot
facility that the Company currently leases in Birmingham.
Jeff Rosenthal, President & Chief Executive Officer, stated, “The
current facility has supported our growth from 67 stores to 835 stores
at the end of the first quarter. With the ability to expand up to
500,000 square feet, the new wholesaling and logistics facility will be
capable of supporting in excess of 2,000 stores and will enable us to
continue growing in small markets where we are needed by communities,
consumers, landlords and vendors.”
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.
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 the
expected operational date of the wholesaling facility, the number of
stores the wholesaling facility can support and our continued growth.
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 March 26, 2012 and the “MD&A” section in our Quarter
Report on Form 10-Q filed on June 1, 2012. 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.
Source: Hibbett Sports, Inc.
Hibbett Sports, Inc.
Jeff Rosenthal, 205-942-4292
Chief Executive Officer