Brian Priddy, Hibbett President, Resigns

by MR Magazine Staff

NEW YORK – Brian Priddy, president of Hibbett Sports Inc., has resigned “to pursue other interests,” the sporting goods retailer said late Thursday.

Priddy’s duties will be distributed among other members of Hibbett’s senior management, including Mickey Newsome, chairman and chief executive officer of the Birmingham, Ala.-based firm.

Last week, the company announced that its first quarter earnings fell 11% to 32 cents a diluted share, missing the consensus estimate of analysts by 2 cents.

Hibbett, like many retailers, was hurt by weak sales in April. While its quarterly sales of $133.8 million missed analysts’ estimates of $135.6 million, its same-store sales rose 0.7% during the period. Newsome indicated that 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 endeavors.”

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