10-Q Filing

HIBBETT INC CIK: 1017480 Q1 2024

Filing Information

Form Type	10-Q
Accession Number	`0001017480-23-000102`
Period End Date	20230430
Filing Date	20230606
Fiscal Year	2024
Fiscal Period	Q1
XBRL Instance	hibb-20230429_htm.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 97 Income Statement 46 Cash Flow Statement 52

Balance Sheet 97 line items

Line Item	Tag	Value	Unit	Period
Common stock, shares issued (in shares)	`CommonStockSharesIssued`	40.12M	shares	Point-in-time
Common stock, shares issued (in shares)	`CommonStockSharesIssued`	39.92M	shares	Point-in-time
Common stock, shares issued (in shares)	`CommonStockSharesIssued`	39.78M	shares	Point-in-time
Treasury stock, shares at cost (in shares)	`TreasuryStockCommonShares`	27.37M	shares	Point-in-time
Treasury stock, shares at cost (in shares)	`TreasuryStockCommonShares`	26.86M	shares	Point-in-time
Treasury stock, shares at cost (in shares)	`TreasuryStockCommonShares`	27.17M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$16.02M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$23.22M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$26.93M	USD	Point-in-time
Receivables, net	`ReceivablesNetCurrent`	$12.85M	USD	Point-in-time
Receivables, net	`ReceivablesNetCurrent`	$13.88M	USD	Point-in-time
Receivables, net	`ReceivablesNetCurrent`	$12.58M	USD	Point-in-time
Inventories, net	`InventoryNet`	$437.96M	USD	Point-in-time
Inventories, net	`InventoryNet`	$420.84M	USD	Point-in-time
Inventories, net	`InventoryNet`	$314.86M	USD	Point-in-time
Other current assets	`OtherAssetsCurrent`	$16.58M	USD	Point-in-time
Other current assets	`OtherAssetsCurrent`	$23.35M	USD	Point-in-time
Other current assets	`OtherAssetsCurrent`	$13.66M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$491.13M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$368.54M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$473.06M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$169.48M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$153.99M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$175.28M	USD	Point-in-time
Operating right-of-use assets	`OperatingLeaseRightOfUseAsset`	$263.00M	USD	Point-in-time
Operating right-of-use assets	`OperatingLeaseRightOfUseAsset`	$250.52M	USD	Point-in-time
Operating right-of-use assets	`OperatingLeaseRightOfUseAsset`	$263.39M	USD	Point-in-time
Finance right-of-use assets, net	`FinanceLeaseRightOfUseAsset`	$1.91M	USD	Point-in-time
Finance right-of-use assets, net	`FinanceLeaseRightOfUseAsset`	$2.28M	USD	Point-in-time
Finance right-of-use assets, net	`FinanceLeaseRightOfUseAsset`	$2.35M	USD	Point-in-time
Tradename intangible asset	`IndefiniteLivedTradeNames`	$23.50M	USD	Point-in-time
Tradename intangible asset	`IndefiniteLivedTradeNames`	$23.50M	USD	Point-in-time
Tradename intangible asset	`IndefiniteLivedTradeNames`	$23.50M	USD	Point-in-time
Deferred income taxes, net	`DeferredIncomeTaxAssetsNet`	$3.24M	USD	Point-in-time
Deferred income taxes, net	`DeferredIncomeTaxAssetsNet`	$3.02M	USD	Point-in-time
Deferred income taxes, net	`DeferredIncomeTaxAssetsNet`	$2.74M	USD	Point-in-time
Other assets, net	`OtherAssetsNoncurrent`	$4.43M	USD	Point-in-time
Other assets, net	`OtherAssetsNoncurrent`	$3.48M	USD	Point-in-time
Other assets, net	`OtherAssetsNoncurrent`	$7.78M	USD	Point-in-time
Total assets	`Assets`	$939.16M	USD	Point-in-time
Total assets	`Assets`	$805.61M	USD	Point-in-time
Total assets	`Assets`	$965.35M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$131.44M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$190.65M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$164.29M	USD	Point-in-time
Operating lease obligations	`OperatingLeaseLiabilityCurrent`	$65.05M	USD	Point-in-time
Operating lease obligations	`OperatingLeaseLiabilityCurrent`	$72.54M	USD	Point-in-time
Operating lease obligations	`OperatingLeaseLiabilityCurrent`	$73.14M	USD	Point-in-time
Credit facility	`LinesOfCreditCurrent`	$36.26M	USD	Point-in-time
Credit facility	`LinesOfCreditCurrent`	$20.41M	USD	Point-in-time
Credit facility	`LinesOfCreditCurrent`	$103.58M	USD	Point-in-time
Finance lease obligations	`FinanceLeaseLiabilityCurrent`	$1.03M	USD	Point-in-time
Finance lease obligations	`FinanceLeaseLiabilityCurrent`	$929.00K	USD	Point-in-time
Finance lease obligations	`FinanceLeaseLiabilityCurrent`	$1.13M	USD	Point-in-time
Accrued payroll expenses	`EmployeeRelatedLiabilitiesCurrent`	$7.71M	USD	Point-in-time
Accrued payroll expenses	`EmployeeRelatedLiabilitiesCurrent`	$9.73M	USD	Point-in-time
Accrued payroll expenses	`EmployeeRelatedLiabilitiesCurrent`	$11.36M	USD	Point-in-time
Other accrued expenses	`OtherLiabilitiesCurrent`	$15.27M	USD	Point-in-time
Other accrued expenses	`OtherLiabilitiesCurrent`	$14.18M	USD	Point-in-time
Other accrued expenses	`OtherLiabilitiesCurrent`	$15.80M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$327.75M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$330.98M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$275.80M	USD	Point-in-time
Operating lease obligations	`OperatingLeaseLiabilityNoncurrent`	$229.39M	USD	Point-in-time
Operating lease obligations	`OperatingLeaseLiabilityNoncurrent`	$219.30M	USD	Point-in-time
Operating lease obligations	`OperatingLeaseLiabilityNoncurrent`	$228.65M	USD	Point-in-time
Finance lease obligations	`FinanceLeaseLiabilityNoncurrent`	$1.30M	USD	Point-in-time
Finance lease obligations	`FinanceLeaseLiabilityNoncurrent`	$1.12M	USD	Point-in-time
Finance lease obligations	`FinanceLeaseLiabilityNoncurrent`	$1.52M	USD	Point-in-time
Unrecognized tax benefits	`UnrecognizedTaxBenefits`	$542.00K	USD	Point-in-time
Unrecognized tax benefits	`UnrecognizedTaxBenefits`	$417.00K	USD	Point-in-time
Unrecognized tax benefits	`UnrecognizedTaxBenefits`	$368.00K	USD	Point-in-time
Other liabilities	`OtherLiabilitiesNoncurrent`	$5.18M	USD	Point-in-time
Other liabilities	`OtherLiabilitiesNoncurrent`	$2.36M	USD	Point-in-time
Other liabilities	`OtherLiabilitiesNoncurrent`	$4.12M	USD	Point-in-time
Total liabilities	`Liabilities`	$499.51M	USD	Point-in-time
Total liabilities	`Liabilities`	$562.93M	USD	Point-in-time
Total liabilities	`Liabilities`	$566.33M	USD	Point-in-time
Common stock, 40,119,820, 39,916,593 and 39,779,841 shares issued, respectively	`CommonStockValue`	$399.00K	USD	Point-in-time
Common stock, 40,119,820, 39,916,593 and 39,779,841 shares issued, respectively	`CommonStockValue`	$398.00K	USD	Point-in-time
Common stock, 40,119,820, 39,916,593 and 39,779,841 shares issued, respectively	`CommonStockValue`	$401.00K	USD	Point-in-time
Paid-in capital	`AdditionalPaidInCapital`	$216.31M	USD	Point-in-time
Paid-in capital	`AdditionalPaidInCapital`	$213.18M	USD	Point-in-time
Paid-in capital	`AdditionalPaidInCapital`	$205.72M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$1.06B	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$1.17B	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$1.14B	USD	Point-in-time
Treasury stock, at cost; 27,373,307, 27,166,538 and 26,855,158 shares repurchased, respectively	`TreasuryStockCommonValue`	$958.39M	USD	Point-in-time
Treasury stock, at cost; 27,373,307, 27,166,538 and 26,855,158 shares repurchased, respectively	`TreasuryStockCommonValue`	$987.88M	USD	Point-in-time
Treasury stock, at cost; 27,373,307, 27,166,538 and 26,855,158 shares repurchased, respectively	`TreasuryStockCommonValue`	$974.83M	USD	Point-in-time
Total stockholders' investment	`StockholdersEquity`	$376.23M	USD	Point-in-time
Total stockholders' investment	`StockholdersEquity`	$306.11M	USD	Point-in-time
Total stockholders' investment	`StockholdersEquity`	$399.01M	USD	Point-in-time
Total stockholders' investment	`StockholdersEquity`	$291.51M	USD	Point-in-time
Total liabilities and stockholders' investment	`LiabilitiesAndStockholdersEquity`	$939.16M	USD	Point-in-time
Total liabilities and stockholders' investment	`LiabilitiesAndStockholdersEquity`	$805.61M	USD	Point-in-time
Total liabilities and stockholders' investment	`LiabilitiesAndStockholdersEquity`	$965.35M	USD	Point-in-time

Income Statement 46 line items

Line Item	Tag	Value	Unit	Period
Net sales	`RevenueFromContractWithCustomerExcludingAssessedTax`	$455.50M	USD	1 Quarter
Net sales	`RevenueFromContractWithCustomerExcludingAssessedTax`	$424.05M	USD	1 Quarter
Cost of goods sold	`CostOfGoodsAndServicesSold`	$267.22M	USD	1 Quarter
Cost of goods sold	`CostOfGoodsAndServicesSold`	$301.88M	USD	1 Quarter
Cost of goods sold, as a percent to sales	`CostOfGoodsAndServicesSoldAsPercentOfSales`	0.66	pure	1 Quarter
Cost of goods sold, as a percent to sales	`CostOfGoodsAndServicesSoldAsPercentOfSales`	0.63	pure	1 Quarter
Gross margin	`GrossProfit`	$156.83M	USD	1 Quarter
Gross margin	`GrossProfit`	$153.62M	USD	1 Quarter
Gross margin, as a percent to sales	`GrossProfitAsAPercentOfSales`	0.37	pure	1 Quarter
Gross margin, as a percent to sales	`GrossProfitAsAPercentOfSales`	0.34	pure	1 Quarter
Store operating, selling and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$96.01M	USD	1 Quarter
Store operating, selling and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$95.60M	USD	1 Quarter
Store operating, selling and administrative expenses, as a percent to sales	`SellingGeneralAndAdministrativeExpenseAsPercentOfSales`	0.21	pure	1 Quarter
Store operating, selling and administrative expenses, as a percent to sales	`SellingGeneralAndAdministrativeExpenseAsPercentOfSales`	0.23	pure	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$10.52M	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$11.69M	USD	1 Quarter
Depreciation and amortization, as a percent to sales	`DepreciationDepletionAndAmortizationNonproductionAsPercentOfSales`	0.03	pure	1 Quarter
Depreciation and amortization, as a percent to sales	`DepreciationDepletionAndAmortizationNonproductionAsPercentOfSales`	0.03	pure	1 Quarter
Operating income	`OperatingIncomeLoss`	$45.91M	USD	1 Quarter
Operating income	`OperatingIncomeLoss`	$50.72M	USD	1 Quarter
Operating income, as a percent to sales	`OperatingIncomeLossAsPercentOfSales`	0.10	pure	1 Quarter
Operating income, as a percent to sales	`OperatingIncomeLossAsPercentOfSales`	0.12	pure	1 Quarter
Interest expense, net	`InterestIncomeExpenseNet`	$-1.33M	USD	1 Quarter
Interest expense, net	`InterestIncomeExpenseNet`	$-72.00K	USD	1 Quarter
Interest expense, net, as a percent to sales	`InterestIncomeExpenseNetAsPercentOfSales`	0.00	pure	1 Quarter
Interest expense, net, as a percent to sales	`InterestIncomeExpenseNetAsPercentOfSales`	0.00	pure	1 Quarter
Income before provision for income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$50.65M	USD	1 Quarter
Income before provision for income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$44.59M	USD	1 Quarter
Income before provision for income taxes, as a percent to sales	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesNoncontrollingInterestAsPercentOfSales`	0.10	pure	1 Quarter
Income before provision for income taxes, as a percent to sales	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesNoncontrollingInterestAsPercentOfSales`	0.12	pure	1 Quarter
Provision for income taxes	`IncomeTaxExpenseBenefit`	$11.30M	USD	1 Quarter
Provision for income taxes	`IncomeTaxExpenseBenefit`	$8.71M	USD	1 Quarter
Provision for income taxes, as a percent to sales	`IncomeTaxExpenseBenefitAmountAsPercentOfSales`	0.03	pure	1 Quarter
Provision for income taxes, as a percent to sales	`IncomeTaxExpenseBenefitAmountAsPercentOfSales`	0.02	pure	1 Quarter
Net income	`NetIncomeLoss`	$35.88M	USD	1 Quarter
Net income	`NetIncomeLoss`	$39.35M	USD	1 Quarter
Net income, as a percent to sales	`NetIncomeLossAttributableToParentAsPercentOfSales`	0.08	pure	1 Quarter
Net income, as a percent to sales	`NetIncomeLossAttributableToParentAsPercentOfSales`	0.09	pure	1 Quarter
Basic earnings per share (in dollars per share)	`EarningsPerShareBasic`	$2.80	USD	1 Quarter
Basic earnings per share (in dollars per share)	`EarningsPerShareBasic`	$2.98	USD	1 Quarter
Diluted earnings per share (in dollars per share)	`EarningsPerShareDiluted`	$2.74	USD	1 Quarter
Diluted earnings per share (in dollars per share)	`EarningsPerShareDiluted`	$2.89	USD	1 Quarter
Basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	12.79M	shares	1 Quarter
Basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	13.22M	shares	1 Quarter
Diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	13.11M	shares	1 Quarter
Diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	13.61M	shares	1 Quarter

Cash Flow Statement 52 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLoss`	$35.88M	USD	1 Quarter
Net income	`NetIncomeLoss`	$39.35M	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$10.52M	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$11.69M	USD	1 Quarter
Stock-based compensation	`ShareBasedCompensation`	$2.00M	USD	1 Quarter
Stock-based compensation	`ShareBasedCompensation`	$2.46M	USD	1 Quarter
Impairment charges	`AssetImpairmentCharges`	$199.00K	USD	1 Quarter
Impairment charges	`AssetImpairmentCharges`	-	USD	1 Quarter
Other non-cash adjustments	`OtherNoncashIncomeExpense`	$-1.45M	USD	1 Quarter
Other non-cash adjustments	`OtherNoncashIncomeExpense`	$-3.87M	USD	1 Quarter
Inventories, net	`IncreaseDecreaseInInventories`	$93.64M	USD	1 Quarter
Inventories, net	`IncreaseDecreaseInInventories`	$17.12M	USD	1 Quarter
Receivables, net	`IncreaseDecreaseInAccountsReceivable`	$270.00K	USD	1 Quarter
Receivables, net	`IncreaseDecreaseInAccountsReceivable`	$-7.28M	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-62.36M	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$76.26M	USD	1 Quarter
Other assets and liabilities	`IncreaseDecreaseInOtherNoncurrentAssetsAndLiabilitiesNet`	$5.82M	USD	1 Quarter
Other assets and liabilities	`IncreaseDecreaseInOtherNoncurrentAssetsAndLiabilitiesNet`	$9.72M	USD	1 Quarter
Net cash (used in) provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-26.80M	USD	1 Quarter
Net cash (used in) provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$28.82M	USD	1 Quarter
Capital expenditures	`PaymentsToAcquireProductiveAssets`	$15.97M	USD	1 Quarter
Capital expenditures	`PaymentsToAcquireProductiveAssets`	$14.22M	USD	1 Quarter
Other, net	`PaymentsForProceedsFromOtherInvestingActivities`	$12.00K	USD	1 Quarter
Other, net	`PaymentsForProceedsFromOtherInvestingActivities`	$-361.00K	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-15.61M	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-14.23M	USD	1 Quarter
Proceeds under credit facilities	`ProceedsFromLinesOfCredit`	$214.07M	USD	1 Quarter
Proceeds under credit facilities	`ProceedsFromLinesOfCredit`	$126.22M	USD	1 Quarter
Repayments under credit facilities	`RepaymentsOfLinesOfCredit`	$146.76M	USD	1 Quarter
Repayments under credit facilities	`RepaymentsOfLinesOfCredit`	$105.80M	USD	1 Quarter
Stock repurchases	`PaymentsForRepurchaseOfEquity`	$22.40M	USD	1 Quarter
Stock repurchases	`PaymentsForRepurchaseOfEquity`	$10.20M	USD	1 Quarter
Cash dividends paid to stockholders	`PaymentsOfDividendsCommonStock`	$3.17M	USD	1 Quarter
Cash dividends paid to stockholders	`PaymentsOfDividendsCommonStock`	$3.28M	USD	1 Quarter
Payments of finance lease obligations	`FinanceLeasePrincipalPayments`	$249.00K	USD	1 Quarter
Payments of finance lease obligations	`FinanceLeasePrincipalPayments`	$281.00K	USD	1 Quarter
Proceeds from options exercised and purchase of shares under the employee stock purchase plan	`ProceedsFromIssuanceOfSharesUnderIncentiveAndShareBasedCompensationPlansIncludingStockOptions`	$1.12M	USD	1 Quarter
Proceeds from options exercised and purchase of shares under the employee stock purchase plan	`ProceedsFromIssuanceOfSharesUnderIncentiveAndShareBasedCompensationPlansIncludingStockOptions`	$538.00K	USD	1 Quarter
Other, net	`ProceedsFromPaymentsForOtherFinancingActivities`	$-2.07M	USD	1 Quarter
Other, net	`ProceedsFromPaymentsForOtherFinancingActivities`	$-2.85M	USD	1 Quarter
Net cash provided by (used in) financing activities	`NetCashProvidedByUsedInFinancingActivities`	$51.94M	USD	1 Quarter
Net cash provided by (used in) financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-7.04M	USD	1 Quarter
Net increase in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$10.91M	USD	1 Quarter
Net increase in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$6.17M	USD	1 Quarter
Cash and cash equivalents, beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$17.05M	USD	Point-in-time
Cash and cash equivalents, beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$23.22M	USD	Point-in-time
Cash and cash equivalents, beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$16.02M	USD	Point-in-time
Cash and cash equivalents, beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$26.93M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$17.05M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$23.22M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$16.02M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$26.93M	USD	Point-in-time

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