10-Q Filing

HIBBETT INC CIK: 1017480 Q1 2020

Filing Information

Form Type	10-Q
Accession Number	`0001140361-19-012534`
Period End Date	20190430
Filing Date	20190708
Fiscal Year	2020
Fiscal Period	Q1
XBRL Instance	hibb-20190504.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 84 Income Statement 28 Cash Flow Statement 46 Stockholders Equity 20

Balance Sheet 84 line items

Line Item	Tag	Value	Unit	Period
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$116.96M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$61.76M	USD	Point-in-time
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
Receivables, net	`ReceivablesNetCurrent`	$8.28M	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
Receivables, net	`ReceivablesNetCurrent`	$9.47M	USD	Point-in-time
Inventories, net	`InventoryNet`	$280.29M	USD	Point-in-time
Inventories, net	`InventoryNet`	$248.55M	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
Common stock, par value (in dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Other current assets	`OtherAssetsCurrent`	$16.34M	USD	Point-in-time
Common stock, par value (in dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Other current assets	`OtherAssetsCurrent`	$12.99M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$386.79M	USD	Point-in-time
Common stock, shares authorized (in shares)	`CommonStockSharesAuthorized`	80.00M	shares	Point-in-time
Total current assets	`AssetsCurrent`	$367.86M	USD	Point-in-time
Common stock, shares authorized (in shares)	`CommonStockSharesAuthorized`	80.00M	shares	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$107.67M	USD	Point-in-time
Common stock, shares issued (in shares)	`SharesOutstanding`	39.10M	shares	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$115.39M	USD	Point-in-time
Common stock, shares issued (in shares)	`SharesOutstanding`	38.98M	shares	Point-in-time
Operating right-of-use assets	`OperatingLeaseRightOfUseAsset`	$224.87M	USD	Point-in-time
Treasury stock, shares (in shares)	`TreasuryStockShares`	20.95M	shares	Point-in-time
Operating right-of-use assets	`OperatingLeaseRightOfUseAsset`	-	USD	Point-in-time
Treasury stock, shares (in shares)	`TreasuryStockShares`	20.69M	shares	Point-in-time
Finance right-of-use assets, net	`FinanceLeaseRightOfUseAsset`	-	USD	Point-in-time
Finance right-of-use assets, net	`FinanceLeaseRightOfUseAsset`	$2.23M	USD	Point-in-time
Goodwill	`Goodwill`	$23.13M	USD	Point-in-time
Goodwill	`Goodwill`	$19.66M	USD	Point-in-time
Trade name intangible asset	`IndefiniteLivedTradeNames`	$32.40M	USD	Point-in-time
Trade name intangible asset	`IndefiniteLivedTradeNames`	$32.40M	USD	Point-in-time
Deferred income taxes, net	`DeferredTaxAssetsNetNoncurrent`	$2.28M	USD	Point-in-time
Deferred income taxes, net	`DeferredTaxAssetsNetNoncurrent`	$3.22M	USD	Point-in-time
Other assets, net	`OtherAssetsNoncurrent`	$5.00M	USD	Point-in-time
Other assets, net	`OtherAssetsNoncurrent`	$3.87M	USD	Point-in-time
Total Assets	`Assets`	$780.71M	USD	Point-in-time
Total Assets	`Assets`	$546.07M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$107.31M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$105.83M	USD	Point-in-time
Operating lease liabilities	`OperatingLeaseLiabilityCurrent`	$66.27M	USD	Point-in-time
Operating lease liabilities	`OperatingLeaseLiabilityCurrent`	-	USD	Point-in-time
Credit facilities	`LinesOfCreditCurrent`	$26.00M	USD	Point-in-time
Credit facilities	`LinesOfCreditCurrent`	$35.00M	USD	Point-in-time
Finance/capital lease obligations	`FinanceLeaseLiabilityCurrent`	$1.02M	USD	Point-in-time
Finance/capital lease obligations	`FinanceLeaseLiabilityCurrent`	$973.00K	USD	Point-in-time
Accrued payroll expenses	`EmployeeRelatedLiabilitiesCurrent`	$7.32M	USD	Point-in-time
Accrued payroll expenses	`EmployeeRelatedLiabilitiesCurrent`	$13.93M	USD	Point-in-time
Deferred rent	`DeferredRentCreditCurrent`	$5.84M	USD	Point-in-time
Deferred rent	`DeferredRentCreditCurrent`	-	USD	Point-in-time
Other accrued expenses	`OtherLiabilitiesCurrent`	$10.17M	USD	Point-in-time
Other accrued expenses	`OtherLiabilitiesCurrent`	$15.60M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$222.00M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$173.27M	USD	Point-in-time
Operating lease liabilities	`OperatingLeaseLiabilityNoncurrent`	-	USD	Point-in-time
Operating lease liabilities	`OperatingLeaseLiabilityNoncurrent`	$188.84M	USD	Point-in-time
Finance/capital lease obligations	`FinanceLeaseLiabilityNoncurrent`	$1.99M	USD	Point-in-time
Finance/capital lease obligations	`FinanceLeaseLiabilityNoncurrent`	$1.78M	USD	Point-in-time
Deferred rent	`DeferredRentCreditNoncurrent`	$19.52M	USD	Point-in-time
Deferred rent	`DeferredRentCreditNoncurrent`	-	USD	Point-in-time
Unrecognized tax benefits	`UnrecognizedTaxBenefits`	$1.40M	USD	Point-in-time
Unrecognized tax benefits	`UnrecognizedTaxBenefits`	$1.37M	USD	Point-in-time
Other liabilities	`OtherLiabilitiesNoncurrent`	$13.83M	USD	Point-in-time
Other liabilities	`OtherLiabilitiesNoncurrent`	$9.54M	USD	Point-in-time
Total liabilities	`Liabilities`	$210.02M	USD	Point-in-time
Total liabilities	`Liabilities`	$423.52M	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, 39,100,509 and 38,983,232 shares issued at May 4, 2019 and February 2, 2019, respectively	`CommonStockValue`	$390.00K	USD	Point-in-time
Common stock, $.01 par value, 80,000,000 shares authorized, 39,100,509 and 38,983,232 shares issued at May 4, 2019 and February 2, 2019, respectively	`CommonStockValue`	$391.00K	USD	Point-in-time
Paid-in capital	`AdditionalPaidInCapital`	$185.75M	USD	Point-in-time
Paid-in capital	`AdditionalPaidInCapital`	$186.46M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$759.68M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$785.45M	USD	Point-in-time
Treasury stock, at cost; 20,945,674 and 20,686,242 shares repurchased at May 4, 2019 and February 2, 2019, respectively	`TreasuryStockValue`	$609.77M	USD	Point-in-time
Treasury stock, at cost; 20,945,674 and 20,686,242 shares repurchased at May 4, 2019 and February 2, 2019, respectively	`TreasuryStockValue`	$615.12M	USD	Point-in-time
Total stockholders' investment	`StockholdersEquity`	$319.60M	USD	Point-in-time
Total stockholders' investment	`StockholdersEquity`	$341.68M	USD	Point-in-time
Total stockholders' investment	`StockholdersEquity`	$336.05M	USD	Point-in-time
Total stockholders' investment	`StockholdersEquity`	$357.18M	USD	Point-in-time
Total Liabilities and Stockholders' Investment	`LiabilitiesAndStockholdersEquity`	$546.07M	USD	Point-in-time
Total Liabilities and Stockholders' Investment	`LiabilitiesAndStockholdersEquity`	$780.71M	USD	Point-in-time

Income Statement 28 line items

Line Item	Tag	Value	Unit	Period
Net sales	`RevenueFromContractWithCustomerExcludingAssessedTax`	$343.30M	USD	1 Quarter
Net sales	`RevenueFromContractWithCustomerExcludingAssessedTax`	$274.71M	USD	1 Quarter
Cost of goods sold	`CostOfGoodsAndServicesSold`	$224.69M	USD	1 Quarter
Cost of goods sold	`CostOfGoodsAndServicesSold`	$177.93M	USD	1 Quarter
Gross margin	`GrossProfit`	$118.60M	USD	1 Quarter
Gross margin	`GrossProfit`	$96.77M	USD	1 Quarter
Store operating, selling and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$61.90M	USD	1 Quarter
Store operating, selling and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$74.04M	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$6.25M	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$7.22M	USD	1 Quarter
Operating income	`OperatingIncomeLoss`	$28.62M	USD	1 Quarter
Operating income	`OperatingIncomeLoss`	$37.34M	USD	1 Quarter
Interest expense, net	`InterestIncomeExpenseNet`	$-46.00K	USD	1 Quarter
Interest expense, net	`InterestIncomeExpenseNet`	$-57.00K	USD	1 Quarter
Income before provision for income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$28.56M	USD	1 Quarter
Income before provision for income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$37.30M	USD	1 Quarter
Provision for income taxes	`IncomeTaxExpenseBenefit`	$9.44M	USD	1 Quarter
Provision for income taxes	`IncomeTaxExpenseBenefit`	$7.05M	USD	1 Quarter
Net income	`NetIncomeLoss`	$21.51M	USD	1 Quarter
Net income	`NetIncomeLoss`	$27.86M	USD	1 Quarter
Basic earnings per share (in dollars per share)	`EarningsPerShareBasic`	$1.13	USD	1 Quarter
Basic earnings per share (in dollars per share)	`EarningsPerShareBasic`	$1.52	USD	1 Quarter
Diluted earnings per share (in dollars per share)	`EarningsPerShareDiluted`	$1.50	USD	1 Quarter
Diluted earnings per share (in dollars per share)	`EarningsPerShareDiluted`	$1.12	USD	1 Quarter
Basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	18.97M	shares	1 Quarter
Basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	18.31M	shares	1 Quarter
Diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	19.14M	shares	1 Quarter
Diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	18.54M	shares	1 Quarter

Cash Flow Statement 46 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLoss`	$21.51M	USD	1 Quarter
Net income	`NetIncomeLoss`	$27.86M	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$6.25M	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$7.22M	USD	1 Quarter
Stock-based compensation	`ShareBasedCompensation`	$507.00K	USD	1 Quarter
Stock-based compensation	`ShareBasedCompensation`	$1.74M	USD	1 Quarter
Other non-cash adjustments to net income	`OtherNoncashIncomeExpense`	$-4.22M	USD	1 Quarter
Other non-cash adjustments to net income	`OtherNoncashIncomeExpense`	$-161.00K	USD	1 Quarter
Inventories, net	`IncreaseDecreaseInInventories`	$-25.09M	USD	1 Quarter
Inventories, net	`IncreaseDecreaseInInventories`	$-30.78M	USD	1 Quarter
Prepaid expenses and other	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-8.87M	USD	1 Quarter
Prepaid expenses and other	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-5.03M	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-10.22M	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-1.48M	USD	1 Quarter
Other assets and liabilities	`IncreaseDecreaseInOtherNoncurrentAssetsAndLiabilitiesNet`	$2.53M	USD	1 Quarter
Other assets and liabilities	`IncreaseDecreaseInOtherNoncurrentAssetsAndLiabilitiesNet`	$5.92M	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$72.06M	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$47.02M	USD	1 Quarter
Capital expenditures	`PaymentsToAcquireProductiveAssets`	$2.47M	USD	1 Quarter
Capital expenditures	`PaymentsToAcquireProductiveAssets`	$4.09M	USD	1 Quarter
Other, net	`PaymentsForProceedsFromOtherInvestingActivities`	$-28.00K	USD	1 Quarter
Other, net	`PaymentsForProceedsFromOtherInvestingActivities`	$54.00K	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-2.52M	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-4.07M	USD	1 Quarter
Repayments under credit facilities, net	`RepaymentsOfLinesOfCredit`	$9.00M	USD	1 Quarter
Repayments under credit facilities, net	`RepaymentsOfLinesOfCredit`	-	USD	1 Quarter
Cash used for stock repurchases	`PaymentsForRepurchaseOfEquity`	$455.00K	USD	1 Quarter
Cash used for stock repurchases	`PaymentsForRepurchaseOfEquity`	$4.80M	USD	1 Quarter
Net payments on finance/capital lease obligations	`FinanceLeasePrincipalPayments`	$160.00K	USD	1 Quarter
Net payments on finance/capital lease obligations	`FinanceLeasePrincipalPayments`	$242.00K	USD	1 Quarter
Proceeds from options exercised and purchase of shares under the employee stock purchase plan	`ProceedsFromIssuanceOfSharesUnderIncentiveAndShareBasedCompensationPlansIncludingStockOptions`	$358.00K	USD	1 Quarter
Proceeds from options exercised and purchase of shares under the employee stock purchase plan	`ProceedsFromIssuanceOfSharesUnderIncentiveAndShareBasedCompensationPlansIncludingStockOptions`	$203.00K	USD	1 Quarter
Other, net	`ProceedsFromPaymentsForOtherFinancingActivities`	$-416.00K	USD	1 Quarter
Other, net	`ProceedsFromPaymentsForOtherFinancingActivities`	$-490.00K	USD	1 Quarter
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-14.33M	USD	1 Quarter
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-673.00K	USD	1 Quarter
Net increase in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$55.21M	USD	1 Quarter
Net increase in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$42.28M	USD	1 Quarter
Cash and cash equivalents, beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$116.96M	USD	Point-in-time
Cash and cash equivalents, beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$73.54M	USD	Point-in-time
Cash and cash equivalents, beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$115.83M	USD	Point-in-time
Cash and cash equivalents, beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$61.76M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$116.96M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$73.54M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$115.83M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$61.76M	USD	Point-in-time

Stockholders Equity 20 line items

Line Item	Tag	Value	Unit	Period
Balance-beginning of period	`StockholdersEquity`	$319.60M	USD	Point-in-time
Balance-beginning of period	`StockholdersEquity`	$341.68M	USD	Point-in-time
Balance-beginning of period	`StockholdersEquity`	$336.05M	USD	Point-in-time
Balance-beginning of period	`StockholdersEquity`	$357.18M	USD	Point-in-time
Net income	`NetIncomeLoss`	$21.51M	USD	1 Quarter
Net income	`NetIncomeLoss`	$27.86M	USD	1 Quarter
Issuance of shares through the Company's equity plans	`StockIssuedDuringPeriodValueShareBasedCompensation`	$358.00K	USD	1 Quarter
Issuance of shares through the Company's equity plans	`StockIssuedDuringPeriodValueShareBasedCompensation`	$204.00K	USD	1 Quarter
Adjustment for adoption of accounting standard	`CumulativeEffectOnRetainedEarningsNetOfTax1`	$-2.08M	USD	1 Quarter
Adjustment for adoption of accounting standard	`CumulativeEffectOnRetainedEarningsNetOfTax1`	$-645.00K	USD	1 Quarter
Purchase of shares under the stock repurchase program	`TreasuryStockValueAcquiredCostMethod`	$455.00K	USD	1 Quarter
Purchase of shares under the stock repurchase program	`TreasuryStockValueAcquiredCostMethod`	$4.80M	USD	1 Quarter
Settlement of net share equity awards	`EmployeeServiceShareBasedCompensationCashFlowEffectCashUsedToSettleAwards`	$-556.00K	USD	1 Quarter
Settlement of net share equity awards	`EmployeeServiceShareBasedCompensationCashFlowEffectCashUsedToSettleAwards`	$-416.00K	USD	1 Quarter
Stock-based compensation	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$507.00K	USD	1 Quarter
Stock-based compensation	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$1.74M	USD	1 Quarter
Balance-end of period	`StockholdersEquity`	$319.60M	USD	Point-in-time
Balance-end of period	`StockholdersEquity`	$341.68M	USD	Point-in-time
Balance-end of period	`StockholdersEquity`	$336.05M	USD	Point-in-time
Balance-end of period	`StockholdersEquity`	$357.18M	USD	Point-in-time

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