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Hibbett Sports owner plans to close 175 underperforming stores in major North American reorganization

Hibbett Sports will close 175 stores around the U.S. over the next three years as its parent company, JD Sports, looks to reorganize its footprint.JD Sports acquired Hibbett in 2024 in a deal valued at around $1.1 billion, with the acquisition viewed as enhancing JD's presence in the North American footwear market. Hibbett had 1,169 stores in 36 states as of May 2024, according to the press release for the deal.Now, the company is moving to reduce its store count as part of a cost-cutting strategy.POPULAR CONVENIENCE STORE CHAIN TO CLOSE HUNDREDS OF STORESJD Sports CEO Regis Schultz said on th...