With its rural-focused strategy for the Hibbett brand hitting some limits, HIBB agreed to buy inner city chain City Gear for $88 million plus a potential earnout of $25 million whose terms weren’t specified. While charges of $0.12-15 per share ($2.5 mm) are expected through the end of the year, HIBB said the deal will be mildly accretive in 2018 and positive next year. Management of City Gear will continue to run the chain out of Memphis, and HIBB hopes to leverage its IT systems, real estate department, customer loyalty program and City Gear’s fashion expertise through 2019. The market ... Log in to view full article.