Hibbett Sports' Stockholders Re-Elect Anthony Crudele and Ralph Parks as Directors for New Three-Year Terms

Director Albert Johnson Retires

BIRMINGHAM, Ala.--()--Hibbett Sports, Inc. (NASDAQ/GS: HIBB), an athletic specialty retailer, today reported on its 2017 Annual Meeting of Stockholders. In formal business conducted at the meeting, stockholders re-elected two directors to three-year terms that expire with the 2020 annual meeting. They include Anthony F. Crudele and Ralph T. Parks.

Albert C. Johnson, a director since 2008, chose not to stand for re-election at the conclusion of his current term, which ended with this annual meeting.

Commenting on the retirement of Al Johnson from the Board, Jeff Rosenthal, President and Chief Executive Officer, said, “On behalf of Hibbett Sports, we want to thank Al for his dedicated service to the Company as a director for nine years and as a member of the Compensation and Audit committees, including his leadership of the latter as chair from 2009 until 2013. As a retired CPA and independent financial consultant with more than 50 years of experience across a range of industries, Al brought a broad view of strategic operations and financial and accounting insight to the work of our board. We very much appreciate the contributions he has made to the growth and success of our company and wish him all the best in the future.”

Johnson added, “It is with mixed emotions that I retire from the Board of Hibbett Sports after nine years of service. I have enjoyed being on the Board and serving as its Chairman of the Audit Committee for about half of that time. I have seen the Company grow to almost 1,100 stores, expand into new markets and embark on omni-channel/e-commerce initiatives that will ensure its future success. I leave knowing that the Company is in very capable hands as it has an outstanding management team with great vision and expertise to face the current challenges of the retail industry and to continue to successfully grow the Company in the future.”

In other matters at the meeting, stockholders ratified the selection of KPMG LLP as the Company's independent registered public accounting firm for Fiscal 2018, approved by non-binding advisory vote the compensation of the Company's executive officers, and approved a one-year frequency for an advisory vote on executive compensation.

Hibbett Sports, Inc. operates athletic specialty stores in small to mid-sized markets, predominately in the South, Southwest, Mid-Atlantic and Midwest regions of the United States. The Company’s primary store format is Hibbett Sports, a 5,000-square-foot store located in strip centers and enclosed malls.

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, or estimate. For example, our forward looking statements include statements regarding future success of the company. 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 28, 2017. 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.

Contacts

Hibbett Sports, Inc.
Scott J. Bowman, 205-942-4292
Senior Vice President & Chief Financial Officer

Contacts

Hibbett Sports, Inc.
Scott J. Bowman, 205-942-4292
Senior Vice President & Chief Financial Officer