Company Separately Reports Fourth Quarter Fiscal 2019 Results
BIRMINGHAM, Ala.--(BUSINESS WIRE)--
Hibbett Sports, Inc. (NASDAQ/GS: HIBB), an athletic specialty retailer,
today announced the planned retirement of Jeff Rosenthal, President and
Chief Executive Officer. The Board will commence a search process to
identify the Company’s next CEO, and Mr. Rosenthal will remain at the
Company in his CEO capacity until a successor is named. He will assist
the Board with the search and the execution of the transition. Upon the
completion of the leadership transition, Mr. Rosenthal will continue to
serve as a member of the Board of Directors.
Commenting on Mr. Rosenthal’s decision, Mickey Newsome, Chairman of the
Board, stated, “We are fortunate to be able to have a seamless
transition of leadership at Hibbett Sports. Jeff has served Hibbett for
over 21 years and has contributed significantly to its growth. He has
worked tirelessly over the past several years leading the Company in a
very difficult retail environment. He has created a foundation for the
Company’s success as we move forward, and we thank him.”
“I have been privileged to lead Hibbett Sports over the past nine years
as President and CEO,” Mr. Rosenthal stated. “I am proud of our
accomplishments during that time having built a world class e-commerce
website and most recently completing our first significant acquisition.
I believe that the Company is well positioned, and it is an appropriate
time to begin a transition. I am committed to working with the
management team in a smooth transition and subsequently working
alongside my Board peers.”
Hibbett, headquartered in Birmingham, Alabama, is a leading
athletic-inspired fashion retailer with more than 1,100 stores under the
Hibbett Sports and City Gear banners, primarily located in small and
mid-sized communities. Founded in 1945, Hibbett has a rich history of
convenient locations, personalized customer service and access to
coveted footwear, apparel and equipment from top brands like Nike,
Jordan, Adidas, and Under Armour. Consumers can browse styles, find new
releases, shop looks and make purchases online or in their nearest store
by visiting www.hibbett.com
or www.citygear.com.
Follow us @hibbettsports and @citygear.
A WARNING ABOUT FORWARD LOOKING STATEMENTS: Certain matters
discussed in this press release are “forward looking statements” as that
term is used in the Private Securities Litigation Reform Act of 1995.
Forward looking statements address future events, developments or
results and typically use words such as “believe,” “anticipate,”
“expect,” “intend,” “plan,” “forecast,” “guidance,” “outlook,”
“estimate,” “continue,” “will,” “may,” “could,” “possible,” “potential”
or other similar words, phrases or expressions. For example, our
forward-looking statements include statements regarding expectations
around our CEO transition plan. Such statements are subject to risks and
uncertainties that could cause actual results to differ materially,
including economic conditions, industry trends, merchandise trends,
vendor relationships, customer demand, and competition. For a discussion
of these factors, as well as others which could affect our business, you
should carefully review our Annual Report and other reports filed from
time to time with the Securities and Exchange Commission, including the
“Risk Factors,” “Business” and “MD&A” sections in our Annual Report on
Form 10-K filed on March 30, 2018, and in our Quarterly Reports on Form
10-Q filed on June 13, 2018, September 13, 2018 and December 13, 2018.
In light of these risks and uncertainties, the future events,
developments or results described by our forward-looking statements in
this document could be materially and adversely different from those we
discuss or imply. We are not obligated to release publicly any revisions
to any forward-looking statements contained in this press release to
reflect events or circumstances occurring after the date of this report
and you should not expect us to do so.
View source version on businesswire.com: https://www.businesswire.com/news/home/20190322005053/en/
Scott J. Bowman
Senior Vice President &
Chief Financial
Officer
(205) 912-7225
Source: Hibbett Sports, Inc.