Hibbett to Acquire 135-store City Gear Chain
HIBB will pay $88 million in cash plus up to an additional $25 million earnout over the next two years for the Memphis, TN-based chain, which sells a very similar assortment of branded sneakers and apparel as Hibbett. In 2017, City Gear had $190 million in revenues and same store sales have averaged mid-single digits over the past three years. Hibbett ... Log in to view full article.