COLUMBUS, GA: Hibbett Sports, a Birmingham, Alabama-based athletic footwear and apparel giant with a strong presence in the Chattahoochee Valley announced on Wednesday that the company has plans to close up to 95 stores in 2020. Despite the bad news of the closure overall performance for Hibbett Sports was on the positive side according to news released by the company.
While Hibbett Sports has announced it will close 95 of its stores, the company will still grow with the addition of 10 to 15 of its new Hibbett Sports and City Gear stores. Hibbett is focused on changing its business model to go along with adapting to changes in shopping patterns. The Birmingham-based company acquired urban fashion retailer City Gear, which also has a store in Columbus last October. Hibbett now owns all 135 City Gear stores in operation.
The news of the store closing came along side the fourth quarter earnings report for the retailer. Hibbett reported that sales for the fourth quarter were greater than expected as revenue for the company rose to $306 million, up from $266.7 million. The numbers topped projected estimates of $280 million for the company. During the earnings report Hibbett Sports announced that its online sales accounted for a major increase in sales for the company.
There has been no word yet of which store location will close. The closures are expected to occur in 2020. Hibbett Sports presently operates several stores in the Columbus and Phenix City area including locations at Peachtree Mall, Bradley Park Drive, Victory Drive, and U.S. 280 in Phenix City. In addition, the chain also has stores in Valley, Auburn, West Point, and two in LaGrange. Hibbett Sports has a total of 1,163 stores in 35 states under is operations presently.