JD Sports completes acquisition of Hibbett
JD Sports Fashion has completed its acquisition of the Hibbett US sportswear retailer.
The move forms part of JD’s expansion plans for North America.
Hibbett has 1,169 stores in 36 states across the US that trade under the Hibbett and City Gear retail fascias.
Régis Schultz, chief executive of JD Sports, said: “The completion of our acquisition of Hibbett is an important strategic milestone for us in North America and we look forward to working with its experienced management team to deliver on our growth plans in the largest sportswear market in the world.
“Strategically, this acquisition enhances our presence within North America and achieves our objective of strengthening our existing community concepts: Shoe Palace on the West Coast and DTLR on the East Coast. Hibbett’s footprint is highly and fully complementary.”
Hibbett reported net sales of $1.7 billion, EBITDA of $186 million and a pre-tax profit of $132 million in the 53 weeks to 3 February 2024.
