Hibbett Sports Inc a Delaware corporation was organized in 1945. The Company is an operator of sporting goods retail stores in small to mid-sized markets, predominately in the South, Southwest, Mid-Atlantic and Midwest regions of the United States. As of February 1, 2014, the Company operated 927 stores consisting of 910 Hibbett Sports stores and 17 smaller-format Sports Additions athletic shoe stores in 31 states, opening its first stores in Delaware and Pennsylvania in Fiscal 2014. Approximately 80% of its Hibbett Sports store base is located in strip centers, which includes free-standing stores, while approximately 20% of its Hibbett Sports store base is located in enclosed malls. Its main retail format is Hibbett Sports, an approximately 5,000 square foot store located in strip centers, which are usually near a Wal-Mart store. In considering locations for its Hibbett Sports stores, it takes into account the size, demographics, quality of real estate and competitive conditions of each market. The Company's 17 Sports Additions stores are small, mainly enclosed mall-based stores, averaging 2,500 square feet with approximately 90% of merchandise consisting of athletic footwear and the remainder consisting of caps and a limited assortment of apparel. Sports Additions stores offer a more fashion-based merchandise assortment compared to its Hibbett Sports stores. Hibbett Team Sales, Inc., a wholly-owned subsidiary of the Company, is a supplier of customized athletic apparel, equipment and footwear mainly to school athletic programs in Alabama and parts of Georgia, Florida and Mississippi. The Company faces competition from a variety of competitors, including on-line retailers. The Company is subject to numerous laws and regulatory matters relating to the conduct of its business.