Hibbett Sports to shut down nearly 15% of stores under new U. S. strategy

Hibbett Sports, a chain with about 1, 000 stores across the U. S. , is set to close 175 locations over the next three years. The move follows its recent $1. 1 billion takeover by British sports retailer JD Sports in early 2024. The company now wants to shrink its physical footprint by focusing on fewer but larger stores that perform better financially. The decision reflects a wider trend in retail. Many brands are trimming their presence after rapid expansions left them with too many underperforming spots. Hibbett’s store count dropped from 1, 169 to 982 in less than two years, partly due to earlier closures following the acquisition. JD Sports plans to shrink its North American store base while adding new locations in strategic places. Alongside this, about 70 to 80 Finish Line stores may rebrand under the JD Sports name, showing how big chains are reshaping their identities.This isn’t happening in a vacuum. Other major retailers like Foot Locker have also announced closures after a shift in ownership. Meanwhile, competitors like Dick’s Sporting Goods are closing some stores to streamline operations. The retail industry is clearly in a phase of consolidation, where brands are prioritizing profits over growth alone. The shake-up also comes as JD Sports faces mixed investor reactions. Its stock remains slightly up compared to last year, but the future still looks uncertain. The company’s plan to keep overall store numbers stable while improving efficiency signals a cautious approach rather than aggressive expansion.