8-K

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 OR 15(d) of The Securities Exchange Act of 1934

Date of Report (Date of earliest event reported) March 14, 2013

Hibbett Sports, Inc.

(Exact Name Of Registrant As Specified In Its Charter)

Delaware	000-20969	20-8159608
(State of Incorporation)	(Commission	(IRS Employer
	File Number)	Identification No.)

451 Industrial Lane

Birmingham, Alabama  35211

(Address of principal executive offices)

(205) 942-4292

(Registrant's telephone number, including area code)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

□Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

□Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

□Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

□Pre commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Item 2.02.  Results of Operations and Financial Condition.

The Company released its results of operations for the fourteen and fifty-three-week periods ended February 2, 2013, in a press release issued on March 15, 2013.

The information in this Item, including Exhibit 99.1 attached hereto, shall not be deemed "filed" for the purposes of Section 18 of the Securities Exchange Act of 1934, or otherwise subject to the liabilities of that section.  It may be incorporated by reference in another filing under the Exchange Act or Securities Act of 1933 if such subsequent filing specifically references this Form 8-K.

Item 5.02.  Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

(e)Executive Compensation

On March 14, 2013, the Compensation Committee (Committee) of the Board approved the annual base salaries (effective February 2, 2013) of the Company's Named Executive Officers (NEOs) for Fiscal 2014.  The following table sets forth the annual base salary level of the Company's NEOs (which officers were determined by reference to the Company's proxy statement, dated April 24, 2012 for Fiscal 2013) and those determined to be NEOs for Fiscal 2014:

		Base Salary
Name	Position	Fiscal 2013		Fiscal 2014
Michael J. Newsome	Executive Chairman of the Board	$	400,000	$	400,000
Jeffry O. Rosenthal	Chief Executive Officer and President		440,000		475,000
Scott J. Bowman (1)	Senior Vice President and Chief Financial Officer		295,000		310,000
Cathy E. Pryor	Senior Vice President of Operations		350,000		365,000
Rebecca A. Jones	Senior Vice President of Merchandising		350,000		375,000

1)  Mr. Bowman was appointed as the Company's Chief Financial Officer in July 2012.  The base salary represents an annualized amount.

Also, on March 14, 2013, the Committee authorized the payment of annual incentive (i.e. bonus) awards to each of the Company's NEOs in respect to the year ended February 2, 2013 (Fiscal 2013).  Consistent with past practice, payment of the awards is made upon the Company achieving defined company financial goals.  At the same time, the Committee established the target bonuses and performance goals for the Fiscal 2014 annual incentive awards.  These target bonuses will be based solely on the Company's financial performance during Fiscal 2014.  Both fiscal year annual incentive bonuses were established subject to the Amended 2006 Executive Officer Cash Bonus Plan adopted previously by the Company's stockholders.  The following table sets forth cash payments to the NEOs in respect to their annual incentive awards for Fiscal 2013 and the incentive bonus target amounts for Fiscal 2014.  The actual bonus may be less or more than the targeted amount depending on future performance.

		Annual Incentive Award
Name	Position	Fiscal 2013		Fiscal 2014
Michael J. Newsome	Executive Chairman of the Board	$	490,000	$	400,000
Jeffry O. Rosenthal	Chief Executive Officer and President		458,150		427,500
Scott J. Bowman (1)	Senior Vice President and Chief Financial Officer		95,000		186,000
Cathy E. Pryor	Senior Vice President of Operations		257,250		237,250
Rebecca A. Jones	Senior Vice President of Merchandising		278,688		262,500

1)  Mr. Bowman's Fiscal 2013 bonus was earned based upon the Company's agreement with him upon hiring and was not contingent upon Company performance as were the other NEOs.

Equity awards will be granted as of March 19, 2013 pursuant to the Company's Statement of Employee Equity Grant Practices.  These awards will be granted under the 2005 Equity Incentive Plan.  The restricted stock units are awarded in two parts:  (1) half the award will cliff vest in five years, subject to a one year performance period based on return on invested capital (ROIC); (2) half the award will cliff vest in three years, subject to a three year performance period based on cumulative earnings before interest and income taxes (EBIT).  The following table sets forth the value of the equity awarded to each NEO.  The number of target restricted stock units to be awarded to each NEO for Fiscal 2014 will be determined on a 30-day trailing average of the Company's common stock price at the date of grant.  The actual equity earned may be less or more than the targeted amount depending on future performance.

		Value
Name	Position	Awarded
Michael J. Newsome	Executive Chairman of the Board	$	440,000
Jeffry O. Rosenthal	Chief Executive Officer and President		427,500
Scott J. Bowman	Senior Vice President and Chief Financial Officer		186,000
Cathy E. Pryor	Senior Vice President of Operations		237,250
Rebecca A. Jones	Senior Vice President of Merchandising		262,500

The Company exercises negative discretion on all performance-based compensation.  The Company intends to provide additional information regarding the compensation awarded, including equity awards, to the NEOs in respect to and during the year ended February 2, 2013, in the proxy statement for the Company's 2013 Annual Meeting of Stockholders.

Item 7.01.  Regulation FD Disclosures.

The information contained in Item 2.02 (including disclaimer) is incorporated by reference into this item 7.01.

Item 9.01.  Financial Statements and Exhibits.

(d) Exhibits.

Exhibit 99.1 is furnished pursuant to Item 2.02 and shall not be deemed to be "filed".

Exhibit No.	Description
99.1	Press Release Dated  March 15, 2013

SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

HIBBETT SPORTS, INC.
By:	/s/ Scott J. Bowman
	Scott J. Bowman
	Senior Vice President and Chief Financial Officer

March 15, 2013

EXHIBIT INDEX

Exhibit No.	Description
99.1	Press Release Dated  March 15, 2013

EX-99.1

EXHIBIT 99.1

Contact:	Scott Bowman
	Senior Vice President &
	Chief Financial Officer
	(205) 942-4292

HIBBETT REPORTS FOURTH QUARTER AND FISCAL 2013 RESULTS

                                          · Achieves 13th Consecutive Quarter of Comparable Store Sales Increase

                                          · Fourth Quarter Earnings Per Diluted Share Increases 24%

                                          · Fiscal Year Earnings Per Diluted Share Increases 27%

                                          · Issues Fiscal 2014 Guidance

BIRMINGHAM, Ala. (March 15, 2013) – Hibbett Sports, Inc. (NASDAQ/GS: HIBB), a sporting goods retailer, today announced results for the fourth quarter and fiscal year ended February 2, 2013.

Fourth Quarter Results

Net sales for the 14-week period ended February 2, 2013, increased 14.0% to $217.4 million compared with $190.7 million for the 13-week period ended January 28, 2012.  Comparable store sales increased 4.9% on a 13-week to 13-week period.

Gross profit improved to 36.1% of net sales for the 14-week period ended February 2, 2013, compared with 35.8% for the 13-week period ended January 28, 2012.

Store operating, selling and administrative expenses improved to 20.3% of net sales for the 14-week period ended February 2, 2013, compared with 20.9% of net sales for the 13-week period ended January 28, 2012.

Net income for the 14-week period ended February 2, 2013, increased 22.3% to $19.4 million compared with $15.8 million for the 13-week period ended January 28, 2012.  Earnings per diluted share increased 23.7% to $0.73 for the 14-week period ended February 2, 2013 compared with $0.59 for the 13-week period ended January 28, 2012.  The 14^th week added approximately $0.07 in diluted earnings per share to our quarterly and annual results.

For the quarter, Hibbett opened 27 new stores, expanded 4 high performing stores and closed 2 underperforming stores, bringing the store base to 873 in 29 states as of February 2, 2013.

Fiscal 2013 Results

Net sales for the 53-week period ended February 2, 2013, increased 11.8% to $818.7 million compared with $732.6 million for the 52-week period ended January 28, 2012.  Comparable store sales increased 6.9% on a 52-week to 52-week period.

Gross profit improved to 36.5% of net sales for the 53-week period ended February 2, 2013, compared with 35.8% for the 52-week period ended January 28, 2012.

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Store operating, selling and administrative expenses improved to 20.8% of net sales for the 53-week period ended February 2, 2013, compared with 21.3% of net sales for the 52-week period ended January 28, 2012.

Net income for the 53-week period ended February 2, 2013, increased 22.9% to $72.6 million compared with $59.1 million for the 52-week period ended January 28, 2012.  Earnings per diluted share increased 26.5% to $2.72 compared with $2.15 for the 52-week period ended January 28, 2012.

For the year, Hibbett opened 54 new stores, expanded 13 high performing stores and closed 13 underperforming stores.

Jeff Rosenthal, President and Chief Executive Officer, stated, "The holiday season was strong due to solid performance in footwear, apparel, and accessories.  Fiscal 2013 results were accomplished by excellent assortments, great customer service, and outstanding support from our distribution team and supplier partners.  Looking forward into Fiscal 2014, we are well positioned to continue our growth and are very excited about the investments being made in the business to ensure our future success."

Liquidity and Stock Repurchases

Hibbett ended the fourth quarter of Fiscal 2013 with $76.9 million of available cash and cash equivalents on the consolidated balance sheet, no bank debt outstanding and full availability under its $80.0 million unsecured credit facilities.

During the fourth quarter, the Company repurchased 203,662 shares of common stock for a total expenditure of $11.0 million.  For Fiscal 2013, the Company repurchased 903,794 shares of common stock for a total expenditure of $49.9 million.  Approximately $245.4 million of the total authorization remained for future stock repurchases as of February 2, 2013.

Fiscal 2014 Outlook

For Fiscal 2014, the Company expects to report diluted earnings per share in the range of $2.85 to $3.05 and an increase in comparable store sales in the low to mid-single digit range. Please note that this compares to Fiscal 2013 that had an approximate $0.07 benefit in earnings per diluted shares due to the 53^rd week.  For Fiscal 2014, the Company expects to open 65 to 70 new stores, expand approximately 18 high performing stores and close 15 to 20 stores.

Investor Conference Call and Simulcast

Hibbett Sports, Inc. will conduct a conference call at 10:00 a.m. ET on Friday, March 15, 2013, to discuss fourth quarter Fiscal 2013 results.  The number to call for the live interactive teleconference is (212) 231-2934.  A replay of the conference call will be available until March 22, 2013, by dialing (402) 977-9140 and entering the passcode, 21576996.

The Company will also provide an online Web simulcast and rebroadcast of its fourth quarter Fiscal 2013 conference call.  The live broadcast of Hibbett's quarterly conference call will be available online at www.hibbett.com under Investor Relations, www.streetevents.com and www.earnings.com, on March 15, 2013, beginning at 10:00 a.m. ET.  The online replay will follow shortly after the call and continue through March 22, 2013.

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Hibbett Sports, Inc. operates sporting goods 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 store opening, expansion and closing plans, liquidity, sales trends, margin trends, the effects of calendar shifts, earnings per diluted share and comparable store sales.  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 26, 2012, and our Quarterly Reports on Form 10-Q filed on June 1, 2012, September 4, 2012 and December 4, 2012.  In light of these risks and uncertainties, the future events, developments or results described by our forward looking statements in this document could turn out to 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.

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HIBBETT SPORTS, INC. AND SUBSIDIARIES
Unaudited Condensed Consolidated Statements of Operations
(Dollars in thousands, except per share amounts)
	February 2, 2013		January 28, 2012		February 2, 2013		January 28, 2012
	(14 Weeks)		(13 Weeks)		(53 Weeks)		(52 Weeks)
Net sales	$	217,407	$	190,681	$	818,700	$	732,645
Cost of goods sold, distribution center and store occupancy costs		138,918		122,521		519,818		470,237
Gross profit		78,489		68,160		298,882		262,408
Store operating, selling and administrative expenses		44,167		39,817		169,872		155,672
Depreciation and amortization		3,416		3,291		13,029		13,205
Operating income		30,906		25,052		115,981		93,531
Interest expense, net		41		50		168		217
Income before provision for income taxes		30,865		25,002		115,813		93,314
Provision for income taxes		11,506		9,178		43,231		34,254
Net income	$	19,359	$	15,824	$	72,582	$	59,060
Net income per common share:
Basic earnings per share	$	0.75	$	0.60	$	2.78	$	2.19
Diluted earnings per share	$	0.73	$	0.59	$	2.72	$	2.15
Weighted average shares outstanding:
Basic		25,848		26,452		26,132		26,978
Diluted		26,359		26,983		26,638		27,506

HIBBETT SPORTS, INC. AND SUBSIDIARIES
Unaudited Condensed Consolidated Balance Sheets
(In thousands)
	February 2, 2013		January 28, 2012
Assets
Cash and cash equivalents	$	76,911	$	55,138
Accounts receivable, net		5,954		6,123
Inventories, net		221,378		195,071
Prepaid expenses and other		17,371		12,441
Total current assets		321,614		268,773
Property and equipment, net		49,076		39,596
Other assets		6,641		5,327
Total assets	$	377,331	$	313,696
Liabilities and Stockholders' Investment
Accounts payable	$	102,021	$	73,735
Short-term capital leases		714		173
Accrued expenses		15,980		17,750
Total current liabilities		118,715		91,658
Non-current liabilities		19,489		18,288
Stockholders' investment		239,127		203,750
Total liabilities and stockholders' investment	$	377,331	$	313,696

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HIBBETT SPORTS, INC. AND SUBSIDIARIES

Fiscal 2013 Comparable Store Sales

As Originally Reported and Adjusted for Week Shift (a)

(Unaudited)

	Fiscal 2013
	First Quarter	Second Quarter	Third Quarter	Fourth Quarter	Full Year
Comparable store sales increase (originally reported)	11.1%	4.8%	6.4%	4.9%	6.9%
Comparable store sales increase (adjusted for week shift)	8.6%	12.5%	-0.7%	4.4%	6.0%
Impact of week shift	-2.5%	7.7%	-7.1%	-0.5%	-0.9%

(a) Due to the 53^rd week in Fiscal 2013, each quarter in Fiscal 2014 starts one week later than the same quarter in Fiscal 2013.  The chart above presents comparable store sales for Fiscal 2013 as originally reported and as adjusted to represent the same 13-week period as the Fiscal 2014 quarters.

HIBBETT SPORTS, INC. AND SUBSIDIARIES

Supplemental Information

(Unaudited)

	February 2, 2013			January 28, 2012			February 2, 2013			January 28, 2012
	(14 Weeks)			(13 Weeks)			(53 Weeks)			(52 Weeks)
Sales Information
Total sales increase		14.0	%		10.1	%		11.8	%		10.2	%
Comparable store sales increase (13 and 52 weeks)		4.9	%		7.2	%		6.9	%		6.8	%
Store Count Information
Beginning of period		848			815			832			798
New stores opened		27			20			54			52
Stores closed		(2	)		(3	)		(13	)		(18	)
End of period		873			832			873			832
Stores expanded		4			2			13			15
Estimated square footage at end of period (in thousands)		5,003			4,755
Balance Sheet Information
Average inventory per store	$	253,583		$	234,460
Share Repurchase Program
Shares		203,662			225,170			903,794			1,897,002
Cost (in thousands)	$	11,008		$	10,107		$	49,852		$	68,613

END OF EXHIBIT 99.1