Hibbett Sports 2007 Annual Report Download - page 16

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A warning about Forward-Looking Statements
This document contains “forward-looking statements” as that term is used in the Private Securities Litigation
Reform Act of 1995. Forward-looking statements address future events, developments and results. They include
statements preceded by, followed by or including words such as “believe,” “anticipate,” “expect,” “intend,” “plan,” “target”
or “estimate.” For example, our forward-looking statements include statements regarding:
• our anticipated sales, including comparable store net sales, net sales growth and earnings growth;
• our growth, including our plans to add, expand or relocate stores and square footage growth and our
market’s ability to support such growth, as well as our plans not to open any more Sports and Company
format stores;
• the possible effect of inflation and other economic changes on our costs and profitability;
• the possible effect of recent accounting pronouncements;
• our cash needs, including our ability to fund our future capital expenditures and working capital requirements
and our ability and plans to renew or increase our revolving credit facility;
• our gross profit margin and earnings and our ability to leverage store operating, selling and administrative
expenses and offset other operating expenses;
• our seasonal sales patterns and our expectations regarding competition;
• the future reliability of, and cost associated with, our sources of supply, particularly imported goods;
• the capacity of our distribution center and plans to open an additional facility;
• our estimates and assumptions as they relate to accruals, inventory valuations, dividends, carrying amount
of financial instruments and fair value of options and other stock-based compensation as well as our
estimates of economic and useful lives of depreciable assets and leases;
• our expectations concerning future stock-based award types and our expectations concerning employee
option exercise behavior;
• the possible effect of pending legal actions and other contingencies;
• our expected benefits from the JDA merchandising system;
• our target market presence and its expected impact on our sales growth;
• our ability to renew or replace store leases satisfactorily;
• our analyses and trends as related to earnings performance.
You should assume that the information appearing in this annual report is accurate only as of the date it was
issued. Our business, financial condition, results of operations and prospects may have changed since that date.
For a discussion of the risks, uncertainties and assumptions that could affect our future events, developments
or results, you should carefully review the “Risk Factors“ described beginning on page 9, as well as “Management’s
Discussion and Analysis of Financial Condition and Results of Operations” beginning on page 18.
Our forward-looking statements could be wrong in light of these and other risks, uncertainties and assumptions.
The future events, developments or results described in this report could turn out to be materially different. We have no
obligation to publicly update or revise our forward-looking statements after the date of this annual report and you should
not expect us to do so.
Investors should also be aware that while we do, from time to time, communicate with securities analysts and
others, we do not, by policy, selectively disclose to them any material nonpublic information or other confidential
commercial information. Accordingly, stockholders should not assume that we agree with any statement or report issued
by any analyst regardless of the content of the statement or report. We do not, by policy, confirm forecasts or projections
issued by others. Thus, to the extent that reports issued by securities analysts contain any projections, forecasts or
opinions, such reports are not our responsibility.
Recent Events
On February 10, 2007, Hibbett Sports, Inc. became the successor holding company for Hibbett Sporting
Goods, Inc., which is now our operating subsidiary. Executives who served in senior executive roles with Hibbett
Sporting Goods, Inc. are now the executives of Hibbett Sports, Inc. Directors who served on our Board of Directors
with Hibbett Sporting Goods, Inc. are now the directors of Hibbett Sports, Inc.
Introductory Note
Unless specifically indicated otherwise, any reference to “2008” or “Fiscal 2008” relates to our year ending
February 2, 2008. Any reference to “2007” or “Fiscal 2007” relates to our year ended February 3, 2007. Any reference
to “2006” or “Fiscal 2006” relates to our year ended January 28, 2006. Any references to “2005” or “Fiscal 2005”
relates to our year ended January 29, 2005.