Fifth Third Securities, Inc. Advises City Gear, LLC on its Sale to Hibbett Sports, Inc. (NASDAQ/GS: HIBB)

Published on: Nov 14, 2018 | Tagged in: Press Release

November 2018

City Gear, LLC Logo

has been acquired by

Hibbett Sports Logo

Fifth Third Securities served as exclusive financial advisor to City Gear, LLC in connection with this transaction.

DEAL TEAM MEMBERS

Charlie Hurt
Managing Director

Red Farha
Vice President

Colin Schulz
Associate

Mitchell D’Eramo
Analyst

About City Gear, LLC
City Gear, LLC (“City Gear”) is a city specialty retailer of premium athletic footwear, apparel and accessories with 135 stores in 15 states. City Gear, known for superior customer service and a compelling merchandise assortment, focuses on fashion-forward customers with lifestyles drawn to and driven by the “sneaker culture.” For the last fiscal year ended February 4, 2018, City Gear reported total revenue of approximately $190 million. For the past three years, same-store sales have averaged in the mid-single digit range. City Gear will operate as a subsidiary of Hibbett Sporting Goods, Inc., from City Gear’s current headquarters in Memphis, Tennessee, and will continue to be led by members of City Gear’s senior management team.About Hibbett Sports, Inc.
Hibbett Sports, Inc. (“Hibbett”), headquartered in Birmingham, Alabama, is a leading athletic-inspired fashion retailer with more than 1,000 stores, primarily located in small and mid-sized communities across the country. Founded in 1945, Hibbett stores have a rich history of convenient locations, personalized customer service and access to apparel, equipment and coveted footwear from top brands like Nike, Jordan, Adidas, and Under Armour.About Fifth Third Securities, Inc.
Fifth Third Securities is the trade name used by Fifth Third Securities, Inc., member FINRA/SIPC, a wholly owned subsidiary of Fifth Third Bank, a registered broker-dealer, and a registered investment advisor registered with the U.S. Securities and Exchange Commission (SEC). Registration does not imply a certain level of skill or training. Securities and investments offered through Fifth Third Securities, Inc.:

  • Are Not FDIC Insured Offer
  • No Bank Guarantee
  • May Lose Value
  • Are Not Insured By Any Federal Government Agency
  • Are Not A Deposit

For more information, visit: 53.com/capitalmarkets

About Fifth Third Bancorp
Fifth Third Bancorp is a diversified financial services company headquartered in Cincinnati, Ohio. As of June 30, 2018, the Company had $141 billion in assets and operated 1,158 full-service Banking Centers and 2,458 ATMs with Fifth Third branding in Ohio, Kentucky, Indiana, Michigan, Illinois, Florida, Tennessee, West Virginia, Georgia and North Carolina. In total, Fifth Third provides its customers with access to approximately 54,000 fee-free ATMs across the United States. Fifth Third operates four main businesses: Commercial Banking, Branch Banking, Consumer Lending and Wealth & Asset Management. Fifth Third is among the largest money managers in the Midwest and, as of June 30, 2018, had $368 billion in assets under care, of which it managed $37 billion for individuals, corporations and not-for-profit organizations through its Trust and Registered Investment Advisory businesses. Investor information and press releases can be viewed at 53.com. Fifth Third’s common stock is traded on the Nasdaq® Global Select Market under the symbol “FITB.” Fifth Third Bank was established in 1858. Deposit and Credit products are offered by Fifth Third Bank. Member FDIC.