10-Q Filing

HIBBETT INC CIK: 1017480 Q2 2017

Filing Information

Form Type	10-Q
Accession Number	`0001017480-17-000035`
Period End Date	20170731
Filing Date	20170905
Fiscal Year	2017
Fiscal Period	Q2
XBRL Instance	hibb-20170729.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 66 Income Statement 56 Cash Flow Statement 50

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
Preferred stock, shares authorized (in shares)	`PreferredStockSharesAuthorized`	1.00M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$52.76M	USD	Point-in-time
Preferred stock, shares authorized (in shares)	`PreferredStockSharesAuthorized`	1.00M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$32.27M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$38.96M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$45.89M	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`	$280.70M	USD	Point-in-time
Inventories, net	`InventoryNet`	$276.43M	USD	Point-in-time
Common stock, par value (in dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Other current assets	`OtherAssetsCurrent`	$21.04M	USD	Point-in-time
Other current assets	`OtherAssetsCurrent`	$18.61M	USD	Point-in-time
Common stock, par value (in dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Total current assets	`AssetsCurrent`	$350.23M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$338.26M	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
Property and equipment	`PropertyPlantAndEquipmentGross`	$253.55M	USD	Point-in-time
Property and equipment	`PropertyPlantAndEquipmentGross`	$247.42M	USD	Point-in-time
Common stock, shares issued (in shares)	`CommonStockSharesIssued`	38.84M	shares	Point-in-time
Common stock, shares issued (in shares)	`CommonStockSharesIssued`	38.74M	shares	Point-in-time
Less accumulated depreciation and amortization	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$135.78M	USD	Point-in-time
Treasury stock, shares (in shares)	`TreasuryStockShares`	17.07M	shares	Point-in-time
Treasury stock, shares (in shares)	`TreasuryStockShares`	18.10M	shares	Point-in-time
Less accumulated depreciation and amortization	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$139.82M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$113.73M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$111.63M	USD	Point-in-time
Other assets, net	`OtherAssetsNoncurrent`	$6.02M	USD	Point-in-time
Other assets, net	`OtherAssetsNoncurrent`	$8.96M	USD	Point-in-time
Total Assets	`Assets`	$458.85M	USD	Point-in-time
Total Assets	`Assets`	$469.99M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$98.88M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$77.05M	USD	Point-in-time
Accrued payroll expenses	`EmployeeRelatedLiabilitiesCurrent`	$5.05M	USD	Point-in-time
Accrued payroll expenses	`EmployeeRelatedLiabilitiesCurrent`	$8.27M	USD	Point-in-time
Deferred rent	`DeferredRentCreditNoncurrent`	$5.05M	USD	Point-in-time
Deferred rent	`DeferredRentCreditNoncurrent`	$5.71M	USD	Point-in-time
Capital lease obligations	`CapitalLeaseObligationsCurrent`	$595.00K	USD	Point-in-time
Capital lease obligations	`CapitalLeaseObligationsCurrent`	$612.00K	USD	Point-in-time
Other accrued expenses	`OtherLiabilitiesCurrent`	$6.32M	USD	Point-in-time
Other accrued expenses	`OtherLiabilitiesCurrent`	$5.11M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$116.58M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$96.07M	USD	Point-in-time
Deferred rent	`DeferredRentCreditCurrent`	$20.81M	USD	Point-in-time
Deferred rent	`DeferredRentCreditCurrent`	$21.66M	USD	Point-in-time
Other liabilities	`OtherLiabilitiesNoncurrent`	$6.76M	USD	Point-in-time
Other liabilities	`OtherLiabilitiesNoncurrent`	$7.08M	USD	Point-in-time
Total liabilities	`Liabilities`	$124.81M	USD	Point-in-time
Total liabilities	`Liabilities`	$144.15M	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, 38,842,961 and 38,739,079 shares issued at July 29, 2017 and January 28, 2017, respectively	`CommonStockValue`	$388.00K	USD	Point-in-time
Common stock, $.01 par value, 80,000,000 shares authorized, 38,842,961 and 38,739,079 shares issued at July 29, 2017 and January 28, 2017, respectively	`CommonStockValue`	$387.00K	USD	Point-in-time
Paid-in capital	`AdditionalPaidInCapital`	$178.82M	USD	Point-in-time
Paid-in capital	`AdditionalPaidInCapital`	$174.72M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$714.61M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$697.66M	USD	Point-in-time
Treasury stock, at cost; 18,098,225 and 17,067,482 shares repurchased at July 29, 2017 and January 28, 2017, respectively	`TreasuryStockValue`	$567.98M	USD	Point-in-time
Treasury stock, at cost; 18,098,225 and 17,067,482 shares repurchased at July 29, 2017 and January 28, 2017, respectively	`TreasuryStockValue`	$538.72M	USD	Point-in-time
Total stockholders' investment	`StockholdersEquity`	$334.04M	USD	Point-in-time
Total stockholders' investment	`StockholdersEquity`	$325.84M	USD	Point-in-time
Total Liabilities and Stockholders' Investment	`LiabilitiesAndStockholdersEquity`	$469.99M	USD	Point-in-time
Total Liabilities and Stockholders' Investment	`LiabilitiesAndStockholdersEquity`	$458.85M	USD	Point-in-time

Income Statement 56 line items

Line Item	Tag	Value	Unit	Period
Net sales	`SalesRevenueNet`	$187.96M	USD	1 Quarter
Net sales	`SalesRevenueNet`	$463.65M	USD	2 Qtrs
Net sales	`SalesRevenueNet`	$489.03M	USD	2 Qtrs
Net sales	`SalesRevenueNet`	$206.93M	USD	1 Quarter
Cost of goods sold, including wholesale, logistics and store occupancy costs	`CostOfGoodsSold`	$315.77M	USD	2 Qtrs
Cost of goods sold, including wholesale, logistics and store occupancy costs	`CostOfGoodsSold`	$133.55M	USD	1 Quarter
Cost of goods sold, including wholesale, logistics and store occupancy costs	`CostOfGoodsSold`	$138.68M	USD	1 Quarter
Cost of goods sold, including wholesale, logistics and store occupancy costs	`CostOfGoodsSold`	$311.02M	USD	2 Qtrs
Gross margin	`GrossProfit`	$173.26M	USD	2 Qtrs
Gross margin	`GrossProfit`	$54.41M	USD	1 Quarter
Gross margin	`GrossProfit`	$68.26M	USD	1 Quarter
Gross margin	`GrossProfit`	$152.63M	USD	2 Qtrs
Store operating, selling and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$109.56M	USD	2 Qtrs
Store operating, selling and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$111.89M	USD	2 Qtrs
Store operating, selling and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$53.50M	USD	1 Quarter
Store operating, selling and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$53.56M	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$9.24M	USD	2 Qtrs
Depreciation and amortization	`DepreciationAndAmortization`	$4.64M	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$11.73M	USD	2 Qtrs
Depreciation and amortization	`DepreciationAndAmortization`	$6.01M	USD	1 Quarter
Operating (loss) income	`OperatingIncomeLoss`	$-5.16M	USD	1 Quarter
Operating (loss) income	`OperatingIncomeLoss`	$10.12M	USD	1 Quarter
Operating (loss) income	`OperatingIncomeLoss`	$54.46M	USD	2 Qtrs
Operating (loss) income	`OperatingIncomeLoss`	$29.01M	USD	2 Qtrs
Interest expense, net	`InterestIncomeExpenseNet`	$-56.00K	USD	1 Quarter
Interest expense, net	`InterestIncomeExpenseNet`	$-124.00K	USD	2 Qtrs
Interest expense, net	`InterestIncomeExpenseNet`	$-62.00K	USD	1 Quarter
Interest expense, net	`InterestIncomeExpenseNet`	$-127.00K	USD	2 Qtrs
(Loss) income before provision for income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$28.88M	USD	2 Qtrs
(Loss) income before provision for income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$10.06M	USD	1 Quarter
(Loss) income before provision for income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$-5.22M	USD	1 Quarter
(Loss) income before provision for income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$54.33M	USD	2 Qtrs
(Benefit) provision for income taxes	`IncomeTaxExpenseBenefit`	$19.92M	USD	2 Qtrs
(Benefit) provision for income taxes	`IncomeTaxExpenseBenefit`	$3.55M	USD	1 Quarter
(Benefit) provision for income taxes	`IncomeTaxExpenseBenefit`	$-2.04M	USD	1 Quarter
(Benefit) provision for income taxes	`IncomeTaxExpenseBenefit`	$11.15M	USD	2 Qtrs
Net (loss) income	`NetIncomeLoss`	$-3.18M	USD	1 Quarter
Net (loss) income	`NetIncomeLoss`	$34.42M	USD	2 Qtrs
Net (loss) income	`NetIncomeLoss`	$6.51M	USD	1 Quarter
Net (loss) income	`NetIncomeLoss`	$17.73M	USD	2 Qtrs
Basic (in dollars per share)	`EarningsPerShareBasic`	$-0.15	USD	1 Quarter
Basic (in dollars per share)	`EarningsPerShareBasic`	$1.53	USD	2 Qtrs
Basic (in dollars per share)	`EarningsPerShareBasic`	$0.84	USD	2 Qtrs
Basic (in dollars per share)	`EarningsPerShareBasic`	$0.29	USD	1 Quarter
Diluted (in dollars per share)	`EarningsPerShareDiluted`	$0.84	USD	2 Qtrs
Diluted (in dollars per share)	`EarningsPerShareDiluted`	$-0.15	USD	1 Quarter
Diluted (in dollars per share)	`EarningsPerShareDiluted`	$1.52	USD	2 Qtrs
Diluted (in dollars per share)	`EarningsPerShareDiluted`	$0.29	USD	1 Quarter
Basic (in dollars per share)	`WeightedAverageNumberOfSharesOutstandingBasic`	20.78M	shares	1 Quarter
Basic (in dollars per share)	`WeightedAverageNumberOfSharesOutstandingBasic`	21.05M	shares	2 Qtrs
Basic (in dollars per share)	`WeightedAverageNumberOfSharesOutstandingBasic`	22.28M	shares	1 Quarter
Basic (in dollars per share)	`WeightedAverageNumberOfSharesOutstandingBasic`	22.53M	shares	2 Qtrs
Diluted (in dollars per share)	`WeightedAverageNumberOfDilutedSharesOutstanding`	21.12M	shares	2 Qtrs
Diluted (in dollars per share)	`WeightedAverageNumberOfDilutedSharesOutstanding`	22.70M	shares	2 Qtrs
Diluted (in dollars per share)	`WeightedAverageNumberOfDilutedSharesOutstanding`	22.44M	shares	1 Quarter
Diluted (in dollars per share)	`WeightedAverageNumberOfDilutedSharesOutstanding`	20.78M	shares	1 Quarter

Cash Flow Statement 50 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLoss`	$-3.18M	USD	1 Quarter
Net income	`NetIncomeLoss`	$34.42M	USD	2 Qtrs
Net income	`NetIncomeLoss`	$6.51M	USD	1 Quarter
Net income	`NetIncomeLoss`	$17.73M	USD	2 Qtrs
Depreciation and amortization	`DepreciationAndAmortization`	$9.24M	USD	2 Qtrs
Depreciation and amortization	`DepreciationAndAmortization`	$4.64M	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$11.73M	USD	2 Qtrs
Depreciation and amortization	`DepreciationAndAmortization`	$6.01M	USD	1 Quarter
Stock-based compensation	`ShareBasedCompensation`	$647.00K	USD	1 Quarter
Stock-based compensation	`ShareBasedCompensation`	$3.10M	USD	2 Qtrs
Stock-based compensation	`ShareBasedCompensation`	$2.35M	USD	2 Qtrs
Stock-based compensation	`ShareBasedCompensation`	$947.00K	USD	1 Quarter
Other non-cash adjustments to net income	`OtherNoncashIncomeExpense`	$49.00K	USD	2 Qtrs
Other non-cash adjustments to net income	`OtherNoncashIncomeExpense`	$122.00K	USD	2 Qtrs
Decrease (increase) in inventories, net	`IncreaseDecreaseInInventories`	$4.27M	USD	2 Qtrs
Decrease (increase) in inventories, net	`IncreaseDecreaseInInventories`	$-9.81M	USD	2 Qtrs
Increase in prepaid expenses	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$273.00K	USD	2 Qtrs
Increase in prepaid expenses	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$3.62M	USD	2 Qtrs
Increase in accounts payable	`IncreaseDecreaseInAccountsPayable`	$16.78M	USD	2 Qtrs
Increase in accounts payable	`IncreaseDecreaseInAccountsPayable`	$21.84M	USD	2 Qtrs
Changes in other operating assets and liabilities	`IncreaseDecreaseInOperatingCapital`	$2.17M	USD	2 Qtrs
Changes in other operating assets and liabilities	`IncreaseDecreaseInOperatingCapital`	$2.77M	USD	2 Qtrs
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$57.19M	USD	2 Qtrs
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$55.67M	USD	2 Qtrs
Capital expenditures	`PaymentsToAcquireProductiveAssets`	$14.38M	USD	2 Qtrs
Capital expenditures	`PaymentsToAcquireProductiveAssets`	$12.68M	USD	2 Qtrs
Other, net	`PaymentsForProceedsFromOtherInvestingActivities`	$-56.00K	USD	2 Qtrs
Other, net	`PaymentsForProceedsFromOtherInvestingActivities`	$-143.00K	USD	2 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-14.32M	USD	2 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-12.53M	USD	2 Qtrs
Cash used for stock repurchases	`PaymentsForRepurchaseOfEquity`	$28.54M	USD	2 Qtrs
Cash used for stock repurchases	`PaymentsForRepurchaseOfEquity`	$28.75M	USD	2 Qtrs
Payments on capital lease obligations	`RepaymentsOfLongTermDebtAndCapitalSecurities`	$294.00K	USD	2 Qtrs
Payments on capital lease obligations	`RepaymentsOfLongTermDebtAndCapitalSecurities`	$227.00K	USD	2 Qtrs
Proceeds from options exercised and purchase of shares under the employee stock purchase plan	`ProceedsFromIssuanceOfSharesUnderIncentiveAndShareBasedCompensationPlansIncludingStockOptions`	$480.00K	USD	2 Qtrs
Proceeds from options exercised and purchase of shares under the employee stock purchase plan	`ProceedsFromIssuanceOfSharesUnderIncentiveAndShareBasedCompensationPlansIncludingStockOptions`	$321.00K	USD	2 Qtrs
Other, net	`ProceedsFromPaymentsForOtherFinancingActivities`	$-862.00K	USD	2 Qtrs
Other, net	`ProceedsFromPaymentsForOtherFinancingActivities`	$-709.00K	USD	2 Qtrs
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-29.06M	USD	2 Qtrs
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-29.52M	USD	2 Qtrs
Net increase in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$13.80M	USD	2 Qtrs
Net increase in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$13.61M	USD	2 Qtrs
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$52.76M	USD	Point-in-time
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$32.27M	USD	Point-in-time
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$38.96M	USD	Point-in-time
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$45.89M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$52.76M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$32.27M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$38.96M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$45.89M	USD	Point-in-time

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