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Hibbett Plays To Its Strengths; Sporting Goods Retailer Targets Smaller Markets.(THE IBD 100)(INSIDE THE 100)
Byline: Marie Beerens
Residents of large cities such as Los Angeles or New York may have never shopped at a Hibbett Sporting Goods store.
There's a good reason for that: The Birmingham, Ala.-based retailer targets markets with populations of 30,000 to 100,000. The company says smaller markets provide it with significant strategic advantages, cost savings, a less competitive environment and expansion opportunities.
Hibbett focuses on apparel and accessories for team sports. It sells brands such as Nike, Reebok, New Balance, Easton, Under Armour and Adidas.
The chain operates 526 stores in 22 states, mostly in the Southeast, mid-Atlantic and the Midwest. Its stores are about 5,000 square feet and are usually located in the No. 1 shopping center in the city with the most retail in a given county.
It plans to open 21 to 26 stores in the ...
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