10-Q Filing

HIBBETT INC CIK: 1017480 Q2 2011

Filing Information

Form Type	10-Q
Accession Number	`0001017480-11-000043`
Period End Date	20110731
Filing Date	20110906
Fiscal Year	2011
Fiscal Period	Q2
XBRL Instance	hibb-20110730.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 66 Income Statement 56 Cash Flow Statement 44

Balance Sheet 66 line items

Line Item	Tag	Value	Unit	Period
Preferred stock, par value	`PreferredStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Preferred stock, par value	`PreferredStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	1.00M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$75.52M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$49.69M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$65.19M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$65.96M	USD	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	1.00M	shares	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Inventories, net	`InventoryNet`	$192.77M	USD	Point-in-time
Inventories, net	`InventoryNet`	$174.88M	USD	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Other current assets	`OtherAssetsCurrent`	$18.95M	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Other current assets	`OtherAssetsCurrent`	$22.64M	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	80.00M	shares	Point-in-time
Total current assets	`AssetsCurrent`	$269.34M	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	80.00M	shares	Point-in-time
Total current assets	`AssetsCurrent`	$280.60M	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	37.13M	shares	Point-in-time
Property and equipment	`PropertyPlantAndEquipmentGross`	$148.59M	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	37.40M	shares	Point-in-time
Property and equipment	`PropertyPlantAndEquipmentGross`	$144.26M	USD	Point-in-time
Treasury stock, shares	`TreasuryStockShares`	9.22M	shares	Point-in-time
Treasury stock, shares	`TreasuryStockShares`	10.20M	shares	Point-in-time
Less accumulated depreciation and amortization	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$104.21M	USD	Point-in-time
Less accumulated depreciation and amortization	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$109.03M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$40.06M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$39.56M	USD	Point-in-time
Other assets, net	`OtherAssetsNoncurrent`	$5.12M	USD	Point-in-time
Other assets, net	`OtherAssetsNoncurrent`	$4.87M	USD	Point-in-time
Total Assets	`Assets`	$325.28M	USD	Point-in-time
Total Assets	`Assets`	$314.26M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$87.57M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$75.99M	USD	Point-in-time
Accrued payroll expenses	`EmployeeRelatedLiabilitiesCurrent`	$9.82M	USD	Point-in-time
Accrued payroll expenses	`EmployeeRelatedLiabilitiesCurrent`	$7.81M	USD	Point-in-time
Deferred rent	`DeferredRentCreditNoncurrent`	$4.03M	USD	Point-in-time
Deferred rent	`DeferredRentCreditNoncurrent`	$4.16M	USD	Point-in-time
Short-term debt and capital lease obligations	`ShortTermBorrowings`	$312.00K	USD	Point-in-time
Short-term debt and capital lease obligations	`ShortTermBorrowings`	$247.00K	USD	Point-in-time
Other accrued expenses	`OtherLiabilitiesCurrent`	$4.19M	USD	Point-in-time
Other accrued expenses	`OtherLiabilitiesCurrent`	$4.58M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$104.36M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$94.33M	USD	Point-in-time
Deferred rent	`DeferredRentCreditCurrent`	$12.82M	USD	Point-in-time
Deferred rent	`DeferredRentCreditCurrent`	$11.64M	USD	Point-in-time
Other liabilities, net	`OtherLiabilitiesNoncurrent`	$7.03M	USD	Point-in-time
Other liabilities, net	`OtherLiabilitiesNoncurrent`	$6.61M	USD	Point-in-time
Total liabilities	`Liabilities`	$122.61M	USD	Point-in-time
Total liabilities	`Liabilities`	$114.18M	USD	Point-in-time
Preferred stock, $.01 par value, 1,000,000 shares authorized, no shares issued	`PreferredStockValue`	-	USD	Point-in-time
Preferred stock, $.01 par value, 1,000,000 shares authorized, no shares issued	`PreferredStockValue`	-	USD	Point-in-time
Common stock, $.01 par value, 80,000,000 shares authorized, 37,398,480 and 37,130,646 shares issued at July 30, 2011 and January 29, 2011 respectively	`CommonStockValue`	$371.00K	USD	Point-in-time
Common stock, $.01 par value, 80,000,000 shares authorized, 37,398,480 and 37,130,646 shares issued at July 30, 2011 and January 29, 2011 respectively	`CommonStockValue`	$374.00K	USD	Point-in-time
Paid-in capital	`AdditionalPaidInCapital`	$114.57M	USD	Point-in-time
Paid-in capital	`AdditionalPaidInCapital`	$122.95M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$289.95M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$317.23M	USD	Point-in-time
Treasury stock, at cost; 10,195,990 and 9,223,038 shares repurchased at July 30, 2011 and January 29, 2011, respectively	`TreasuryStockValue`	$204.80M	USD	Point-in-time
Treasury stock, at cost; 10,195,990 and 9,223,038 shares repurchased at July 30, 2011 and January 29, 2011, respectively	`TreasuryStockValue`	$237.88M	USD	Point-in-time
Total stockholders' investment	`StockholdersEquity`	$200.09M	USD	Point-in-time
Total stockholders' investment	`StockholdersEquity`	$202.67M	USD	Point-in-time
Total Liabilities and Stockholders' Investment	`LiabilitiesAndStockholdersEquity`	$314.26M	USD	Point-in-time
Total Liabilities and Stockholders' Investment	`LiabilitiesAndStockholdersEquity`	$325.28M	USD	Point-in-time

Income Statement 56 line items

Line Item	Tag	Value	Unit	Period
Net sales	`SalesRevenueNet`	$153.13M	USD	1 Quarter
Net sales	`SalesRevenueNet`	$356.78M	USD	2 Qtrs
Net sales	`SalesRevenueNet`	$139.82M	USD	1 Quarter
Net sales	`SalesRevenueNet`	$324.32M	USD	2 Qtrs
Cost of goods sold, including distribution center and store occupancy costs	`CostOfGoodsSold`	$230.35M	USD	2 Qtrs
Cost of goods sold, including distribution center and store occupancy costs	`CostOfGoodsSold`	$213.44M	USD	2 Qtrs
Cost of goods sold, including distribution center and store occupancy costs	`CostOfGoodsSold`	$102.49M	USD	1 Quarter
Cost of goods sold, including distribution center and store occupancy costs	`CostOfGoodsSold`	$95.04M	USD	1 Quarter
Gross profit	`GrossProfit`	$50.64M	USD	1 Quarter
Gross profit	`GrossProfit`	$44.77M	USD	1 Quarter
Gross profit	`GrossProfit`	$110.88M	USD	2 Qtrs
Gross profit	`GrossProfit`	$126.43M	USD	2 Qtrs
Store operating, selling and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$34.92M	USD	1 Quarter
Store operating, selling and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$76.34M	USD	2 Qtrs
Store operating, selling and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$37.97M	USD	1 Quarter
Store operating, selling and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$69.86M	USD	2 Qtrs
Depreciation and amortization	`DepreciationAndAmortization`	$3.30M	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$3.38M	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$6.58M	USD	2 Qtrs
Depreciation and amortization	`DepreciationAndAmortization`	$6.87M	USD	2 Qtrs
Operating income	`OperatingIncomeLoss`	$6.48M	USD	1 Quarter
Operating income	`OperatingIncomeLoss`	$9.37M	USD	1 Quarter
Operating income	`OperatingIncomeLoss`	$43.51M	USD	2 Qtrs
Operating income	`OperatingIncomeLoss`	$34.16M	USD	2 Qtrs
Interest expense, net	`InterestIncomeExpenseNet`	$-51.00K	USD	2 Qtrs
Interest expense, net	`InterestIncomeExpenseNet`	$-60.00K	USD	1 Quarter
Interest expense, net	`InterestIncomeExpenseNet`	$-116.00K	USD	2 Qtrs
Interest expense, net	`InterestIncomeExpenseNet`	$-44.00K	USD	1 Quarter
Income before provision for income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$34.11M	USD	2 Qtrs
Income before provision for income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$9.31M	USD	1 Quarter
Income before provision for income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$6.44M	USD	1 Quarter
Income before provision for income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$43.39M	USD	2 Qtrs
Provision for income taxes	`IncomeTaxExpenseBenefit`	$16.11M	USD	2 Qtrs
Provision for income taxes	`IncomeTaxExpenseBenefit`	$12.75M	USD	2 Qtrs
Provision for income taxes	`IncomeTaxExpenseBenefit`	$2.42M	USD	1 Quarter
Provision for income taxes	`IncomeTaxExpenseBenefit`	$3.37M	USD	1 Quarter
Net income	`NetIncomeLoss`	$21.35M	USD	2 Qtrs
Net income	`NetIncomeLoss`	$27.28M	USD	2 Qtrs
Net income	`NetIncomeLoss`	$5.94M	USD	1 Quarter
Net income	`NetIncomeLoss`	$4.01M	USD	1 Quarter
Basic	`EarningsPerShareBasic`	$0.74	USD	2 Qtrs
Basic	`EarningsPerShareBasic`	$0.14	USD	1 Quarter
Basic	`EarningsPerShareBasic`	$1.00	USD	2 Qtrs
Basic	`EarningsPerShareBasic`	$0.22	USD	1 Quarter
Diluted	`EarningsPerShareDiluted`	$0.21	USD	1 Quarter
Diluted	`EarningsPerShareDiluted`	$0.98	USD	2 Qtrs
Diluted	`EarningsPerShareDiluted`	$0.73	USD	2 Qtrs
Diluted	`EarningsPerShareDiluted`	$0.14	USD	1 Quarter
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	27.27M	shares	1 Quarter
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	28.77M	shares	2 Qtrs
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	27.36M	shares	2 Qtrs
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	28.79M	shares	1 Quarter
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	27.80M	shares	1 Quarter
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	29.38M	shares	2 Qtrs
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	27.89M	shares	2 Qtrs
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	29.39M	shares	1 Quarter

Cash Flow Statement 44 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLoss`	$21.35M	USD	2 Qtrs
Net income	`NetIncomeLoss`	$27.28M	USD	2 Qtrs
Net income	`NetIncomeLoss`	$5.94M	USD	1 Quarter
Net income	`NetIncomeLoss`	$4.01M	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$3.30M	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$3.38M	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$6.58M	USD	2 Qtrs
Depreciation and amortization	`DepreciationAndAmortization`	$6.87M	USD	2 Qtrs
Stock-based compensation	`ShareBasedCompensation`	$1.27M	USD	1 Quarter
Stock-based compensation	`ShareBasedCompensation`	$3.11M	USD	2 Qtrs
Stock-based compensation	`ShareBasedCompensation`	$2.44M	USD	2 Qtrs
Stock-based compensation	`ShareBasedCompensation`	$951.00K	USD	1 Quarter
Other non-cash adjustments to net income	`OtherNoncashIncomeExpense`	$-584.00K	USD	2 Qtrs
Other non-cash adjustments to net income	`OtherNoncashIncomeExpense`	$-2.23M	USD	2 Qtrs
Changes in operating assets and liabilities	`IncreaseDecreaseInOperatingCapital`	$-11.30M	USD	2 Qtrs
Changes in operating assets and liabilities	`IncreaseDecreaseInOperatingCapital`	$-9.60M	USD	2 Qtrs
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$18.83M	USD	2 Qtrs
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$25.09M	USD	2 Qtrs
Capital expenditures	`PaymentsToAcquireProductiveAssets`	$3.56M	USD	2 Qtrs
Capital expenditures	`PaymentsToAcquireProductiveAssets`	$6.18M	USD	2 Qtrs
Other, net	`PaymentsForProceedsFromOtherInvestingActivities`	$155.00K	USD	2 Qtrs
Other, net	`PaymentsForProceedsFromOtherInvestingActivities`	$274.00K	USD	2 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-6.45M	USD	2 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-3.71M	USD	2 Qtrs
Cash used for stock repurchases	`PaymentsForRepurchaseOfEquity`	$4.92M	USD	2 Qtrs
Cash used for stock repurchases	`PaymentsForRepurchaseOfEquity`	$31.95M	USD	2 Qtrs
Net (payments) proceeds on revolving credit facility and capital lease obligations	`RepaymentsOfLongTermDebtAndCapitalSecurities`	$149.00K	USD	2 Qtrs
Net (payments) proceeds on revolving credit facility and capital lease obligations	`RepaymentsOfLongTermDebtAndCapitalSecurities`	$-3.00M	USD	2 Qtrs
Proceeds from options exercised and purchase of shares under the employee stock purchase plan	`ProceedsFromIssuanceOfSharesUnderIncentiveAndShareBasedCompensationPlansIncludingStockOptions`	$2.21M	USD	2 Qtrs
Proceeds from options exercised and purchase of shares under the employee stock purchase plan	`ProceedsFromIssuanceOfSharesUnderIncentiveAndShareBasedCompensationPlansIncludingStockOptions`	$3.12M	USD	2 Qtrs
Other, net	`ProceedsFromPaymentsForOtherFinancingActivities`	$12.00K	USD	2 Qtrs
Other, net	`ProceedsFromPaymentsForOtherFinancingActivities`	$857.00K	USD	2 Qtrs
Net cash (used in) provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-28.97M	USD	2 Qtrs
Net cash (used in) provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$1.15M	USD	2 Qtrs
Net (Decrease) Increase in Cash and Cash Equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-10.33M	USD	2 Qtrs
Net (Decrease) Increase in Cash and Cash Equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$16.27M	USD	2 Qtrs
Cash and Cash Equivalents, Beginning of Period	`CashAndCashEquivalentsAtCarryingValue`	$75.52M	USD	Point-in-time
Cash and Cash Equivalents, Beginning of Period	`CashAndCashEquivalentsAtCarryingValue`	$49.69M	USD	Point-in-time
Cash and Cash Equivalents, Beginning of Period	`CashAndCashEquivalentsAtCarryingValue`	$65.19M	USD	Point-in-time
Cash and Cash Equivalents, Beginning of Period	`CashAndCashEquivalentsAtCarryingValue`	$65.96M	USD	Point-in-time
Cash and Cash Equivalents, End of Period	`CashAndCashEquivalentsAtCarryingValue`	$75.52M	USD	Point-in-time
Cash and Cash Equivalents, End of Period	`CashAndCashEquivalentsAtCarryingValue`	$49.69M	USD	Point-in-time
Cash and Cash Equivalents, End of Period	`CashAndCashEquivalentsAtCarryingValue`	$65.19M	USD	Point-in-time
Cash and Cash Equivalents, End of Period	`CashAndCashEquivalentsAtCarryingValue`	$65.96M	USD	Point-in-time

Data is extracted from SEC EDGAR XBRL filings. Values shown are as reported in the filing.