10-Q Filing

HIBBETT INC CIK: 1017480 Q1 2014

Filing Information

Form Type	10-Q
Accession Number	`0001017480-14-000023`
Period End Date	20140430
Filing Date	20140609
Fiscal Year	2014
Fiscal Period	Q1
XBRL Instance	hibb-20140503.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 66 Income Statement 28 Cash Flow Statement 46

Balance Sheet 66 line items

Line Item	Tag	Value	Unit	Period
Preferred stock, par value (in dollars per share)	`PreferredStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Preferred stock, par value (in dollars per share)	`PreferredStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$103.19M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$66.23M	USD	Point-in-time
Preferred stock, shares authorized (in shares)	`PreferredStockSharesAuthorized`	1.00M	shares	Point-in-time
Preferred stock, shares authorized (in shares)	`PreferredStockSharesAuthorized`	1.00M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$76.91M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$110.28M	USD	Point-in-time
Preferred stock, shares issued (in shares)	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Preferred stock, shares issued (in shares)	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Inventories, net	`InventoryNet`	$226.54M	USD	Point-in-time
Inventories, net	`InventoryNet`	$206.34M	USD	Point-in-time
Common stock, par value (in dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Other current assets	`OtherAssetsCurrent`	$30.88M	USD	Point-in-time
Common stock, par value (in dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Other current assets	`OtherAssetsCurrent`	$22.97M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$339.58M	USD	Point-in-time
Common stock, shares authorized (in shares)	`CommonStockSharesAuthorized`	80.00M	shares	Point-in-time
Common stock, shares authorized (in shares)	`CommonStockSharesAuthorized`	80.00M	shares	Point-in-time
Total current assets	`AssetsCurrent`	$323.65M	USD	Point-in-time
Property and equipment	`PropertyPlantAndEquipmentGross`	$218.18M	USD	Point-in-time
Property and equipment	`PropertyPlantAndEquipmentGross`	$211.20M	USD	Point-in-time
Common stock, shares issued (in shares)	`CommonStockSharesIssued`	38.43M	shares	Point-in-time
Common stock, shares issued (in shares)	`CommonStockSharesIssued`	38.20M	shares	Point-in-time
Treasury stock, shares (in shares)	`TreasuryStockShares`	12.39M	shares	Point-in-time
Less accumulated depreciation and amortization	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$126.86M	USD	Point-in-time
Less accumulated depreciation and amortization	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$125.19M	USD	Point-in-time
Treasury stock, shares (in shares)	`TreasuryStockShares`	12.67M	shares	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$91.32M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$86.01M	USD	Point-in-time
Other assets, net	`OtherAssetsNoncurrent`	$6.68M	USD	Point-in-time
Other assets, net	`OtherAssetsNoncurrent`	$6.20M	USD	Point-in-time
Total Assets	`Assets`	$416.35M	USD	Point-in-time
Total Assets	`Assets`	$437.09M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$68.97M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$74.53M	USD	Point-in-time
Accrued payroll expenses	`EmployeeRelatedLiabilitiesCurrent`	$8.46M	USD	Point-in-time
Accrued payroll expenses	`EmployeeRelatedLiabilitiesCurrent`	$8.32M	USD	Point-in-time
Deferred rent	`DeferredRentCreditNoncurrent`	$4.06M	USD	Point-in-time
Deferred rent	`DeferredRentCreditNoncurrent`	$3.79M	USD	Point-in-time
Short-term capital lease obligations	`ShortTermBorrowings`	$391.00K	USD	Point-in-time
Short-term capital lease obligations	`ShortTermBorrowings`	$322.00K	USD	Point-in-time
Other accrued expenses	`OtherLiabilitiesCurrent`	$11.47M	USD	Point-in-time
Other accrued expenses	`OtherLiabilitiesCurrent`	$4.30M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$91.41M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$93.21M	USD	Point-in-time
Deferred rent	`DeferredRentCreditCurrent`	$13.80M	USD	Point-in-time
Deferred rent	`DeferredRentCreditCurrent`	$13.96M	USD	Point-in-time
Other liabilities, net	`OtherLiabilitiesNoncurrent`	$7.11M	USD	Point-in-time
Other liabilities, net	`OtherLiabilitiesNoncurrent`	$7.49M	USD	Point-in-time
Total liabilities	`Liabilities`	$114.67M	USD	Point-in-time
Total liabilities	`Liabilities`	$112.32M	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, 38,432,794 and 38,202,486 shares issued at May 3, 2014 and February 1, 2014, respectively	`CommonStockValue`	$382.00K	USD	Point-in-time
Common stock, $.01 par value, 80,000,000 shares authorized, 38,432,794 and 38,202,486 shares issued at May 3, 2014 and February 1, 2014, respectively	`CommonStockValue`	$384.00K	USD	Point-in-time
Paid-in capital	`AdditionalPaidInCapital`	$159.86M	USD	Point-in-time
Paid-in capital	`AdditionalPaidInCapital`	$154.53M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$520.86M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$492.47M	USD	Point-in-time
Treasury stock, at cost; 12,666,974 and 12,389,531 shares repurchased at May 3, 2014 and February 1, 2014, respectively	`TreasuryStockValue`	$343.36M	USD	Point-in-time
Treasury stock, at cost; 12,666,974 and 12,389,531 shares repurchased at May 3, 2014 and February 1, 2014, respectively	`TreasuryStockValue`	$358.68M	USD	Point-in-time
Total stockholders' investment	`StockholdersEquity`	$304.02M	USD	Point-in-time
Total stockholders' investment	`StockholdersEquity`	$322.43M	USD	Point-in-time
Total Liabilities and Stockholders' Investment	`LiabilitiesAndStockholdersEquity`	$416.35M	USD	Point-in-time
Total Liabilities and Stockholders' Investment	`LiabilitiesAndStockholdersEquity`	$437.09M	USD	Point-in-time

Income Statement 28 line items

Line Item	Tag	Value	Unit	Period
Net sales	`SalesRevenueNet`	$261.91M	USD	1 Quarter
Net sales	`SalesRevenueNet`	$239.99M	USD	1 Quarter
Cost of goods sold, including wholesale, logistics and store occupancy costs	`CostOfGoodsSold`	$163.71M	USD	1 Quarter
Cost of goods sold, including wholesale, logistics and store occupancy costs	`CostOfGoodsSold`	$149.12M	USD	1 Quarter
Gross profit	`GrossProfit`	$98.20M	USD	1 Quarter
Gross profit	`GrossProfit`	$90.88M	USD	1 Quarter
Store operating, selling and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$45.11M	USD	1 Quarter
Store operating, selling and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$48.95M	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$3.33M	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$3.58M	USD	1 Quarter
Operating income	`OperatingIncomeLoss`	$45.66M	USD	1 Quarter
Operating income	`OperatingIncomeLoss`	$42.44M	USD	1 Quarter
Interest expense, net	`InterestIncomeExpenseNet`	$-45.00K	USD	1 Quarter
Interest expense, net	`InterestIncomeExpenseNet`	$-73.00K	USD	1 Quarter
Income before provision for income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$45.59M	USD	1 Quarter
Income before provision for income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$42.39M	USD	1 Quarter
Provision for income taxes	`IncomeTaxExpenseBenefit`	$17.20M	USD	1 Quarter
Provision for income taxes	`IncomeTaxExpenseBenefit`	$16.18M	USD	1 Quarter
Net income	`NetIncomeLoss`	$26.21M	USD	1 Quarter
Net income	`NetIncomeLoss`	$28.39M	USD	1 Quarter
Basic (in dollars per share)	`EarningsPerShareBasic`	$1.01	USD	1 Quarter
Basic (in dollars per share)	`EarningsPerShareBasic`	$1.10	USD	1 Quarter
Diluted (in dollars per share)	`EarningsPerShareDiluted`	$1.09	USD	1 Quarter
Diluted (in dollars per share)	`EarningsPerShareDiluted`	$1.00	USD	1 Quarter
Basic (in dollars per share)	`WeightedAverageNumberOfSharesOutstandingBasic`	25.85M	shares	1 Quarter
Basic (in dollars per share)	`WeightedAverageNumberOfSharesOutstandingBasic`	25.91M	shares	1 Quarter
Diluted (in dollars per share)	`WeightedAverageNumberOfDilutedSharesOutstanding`	26.33M	shares	1 Quarter
Diluted (in dollars per share)	`WeightedAverageNumberOfDilutedSharesOutstanding`	26.13M	shares	1 Quarter

Cash Flow Statement 46 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLoss`	$26.21M	USD	1 Quarter
Net income	`NetIncomeLoss`	$28.39M	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$3.33M	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$3.58M	USD	1 Quarter
Stock-based compensation	`ShareBasedCompensation`	$2.52M	USD	1 Quarter
Stock-based compensation	`ShareBasedCompensation`	$2.37M	USD	1 Quarter
Other non-cash adjustments to net income	`OtherNoncashIncomeExpense`	$-188.00K	USD	1 Quarter
Other non-cash adjustments to net income	`OtherNoncashIncomeExpense`	$-1.86M	USD	1 Quarter
Decrease in inventories, net	`IncreaseDecreaseInInventories`	$15.88M	USD	1 Quarter
Decrease in inventories, net	`IncreaseDecreaseInInventories`	$20.21M	USD	1 Quarter
Decrease in prepaid expenses	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-14.18M	USD	1 Quarter
Decrease in prepaid expenses	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-13.82M	USD	1 Quarter
Decrease in accounts payable	`IncreaseDecreaseInAccountsPayable`	$-18.55M	USD	1 Quarter
Decrease in accounts payable	`IncreaseDecreaseInAccountsPayable`	$-7.69M	USD	1 Quarter
Changes in other operating assets and liabilities	`IncreaseDecreaseInOperatingCapital`	$2.49M	USD	1 Quarter
Changes in other operating assets and liabilities	`IncreaseDecreaseInOperatingCapital`	$-4.88M	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$63.48M	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$36.32M	USD	1 Quarter
Capital expenditures	`PaymentsToAcquireProductiveAssets`	$6.48M	USD	1 Quarter
Capital expenditures	`PaymentsToAcquireProductiveAssets`	$8.20M	USD	1 Quarter
Other, net	`PaymentsForProceedsFromOtherInvestingActivities`	$189.00K	USD	1 Quarter
Other, net	`PaymentsForProceedsFromOtherInvestingActivities`	$364.00K	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-6.84M	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-8.38M	USD	1 Quarter
Cash used for stock repurchases	`PaymentsForRepurchaseOfEquity`	$10.78M	USD	1 Quarter
Cash used for stock repurchases	`PaymentsForRepurchaseOfEquity`	$1.19M	USD	1 Quarter
Payments on capital lease obligations	`RepaymentsOfLongTermDebtAndCapitalSecurities`	$67.00K	USD	1 Quarter
Payments on capital lease obligations	`RepaymentsOfLongTermDebtAndCapitalSecurities`	$86.00K	USD	1 Quarter
Proceeds from options exercised and purchase of shares under the employee stock purchase plan	`ProceedsFromIssuanceOfSharesUnderIncentiveAndShareBasedCompensationPlansIncludingStockOptions`	$209.00K	USD	1 Quarter
Proceeds from options exercised and purchase of shares under the employee stock purchase plan	`ProceedsFromIssuanceOfSharesUnderIncentiveAndShareBasedCompensationPlansIncludingStockOptions`	$559.00K	USD	1 Quarter
Other, net	`ProceedsFromPaymentsForOtherFinancingActivities`	$-1.94M	USD	1 Quarter
Other, net	`ProceedsFromPaymentsForOtherFinancingActivities`	$-961.00K	USD	1 Quarter
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-1.66M	USD	1 Quarter
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-12.59M	USD	1 Quarter
Net increase in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$44.05M	USD	1 Quarter
Net increase in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$26.28M	USD	1 Quarter
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$103.19M	USD	Point-in-time
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$66.23M	USD	Point-in-time
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$76.91M	USD	Point-in-time
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$110.28M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$103.19M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$66.23M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$76.91M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$110.28M	USD	Point-in-time
Increase in equipment and accounts payable for capital purchases	`OtherAccountsPayableAndAccruedLiabilities`	$2.13M	USD	Point-in-time
Increase in equipment and accounts payable for capital purchases	`OtherAccountsPayableAndAccruedLiabilities`	-	USD	Point-in-time

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