Hibbett Sports president Brian Priddy resigns

US: Hibbett Sports president Brian Priddy resigns

By just-style.com | 1 June 2007

Brian Priddy, president of Hibbett Sports, has resigned "to pursue other interests," the sporting goods retailer said late Thursday (31 May).

Priddy's duties will be distributed among other members of Hibbett's senior management, including Mickey Newsome, chairman and CEO of the Birmingham, Alabama-based firm.

Last week, the company announced that its first quarter earnings fell 11% to US$0.32 a diluted share, missing the consensus estimate of analysts by $0.02.

Hibbett, like many retailers, was hurt by weak sales in April. While its quarterly sales of $133.8m missed analysts' estimates of $135.6m, its same-store sales rose 0.7% during the period.

Newsome indicated that while sales at enclosed urban malls fell short of projections, demand was strong for technical apparel, youth products and team sports equipment.

Priddy joined Hibbett as president in August 2005 following seven years with Bombay Inc. as executive vice president. He'd previously held executive posts with Sears, Lillie Rubin and Maison Blanche.

"We would like to thank Brian for his contributions to Hibbett while here," said Newsome. "We wish Brian and his family continued success in their future endeavours."

As of 5 May, Hibbett operated 620 stores in 23 states.

By Arnold J Karr.

Sectors: Apparel, Footwear, Retail

Companies: Sears