Marketing

BIRMINGHAM, Ala. — Hibbett Sports reported that net sales for the second quarter ended July 30 increased 9.5% to $153.1 million compared with $139.8 million for the second quarter ended July 31, 2010. Comparable-store sales increased 5.9%.

Net income for the quarter increased 48% to $5.9 million compared with $4 million for the same period last year. Earnings per diluted share increased 56.4% to 21 cents compared with 14 cents for the same period last year.

GRAND RAPIDS, Mich. — Meijer and Dr. Pepper announced that they are often students the  chance to turn those awkward photos into money for college. Through August 27 participants can go to the Meijer Facebook page and upload their photos for a chance to win free tuition for a year (maximum value $20,000). 

Indianapolis -- Electronics and appliances retailer Hhgregg said Friday it will open 14 new stores in the Chicago area on Sept. 15.

Chicago is a new market for Hhgregg, and with the opening of 14 new stores, it will become the company’s largest market.
 

Jacksonville, Fla. -- Winn-Dixie Stores announced Thursday that it would convert all of its SaveRite-branded grocery stores to Winn-Dixie brands, discontinuing the SaveRite banner permanently.

“By aligning all 484 stores under one Winn-Dixie banner, we will be able to ensure a more consistent shopping experience for all of our guests – regardless of the type of neighborhood in which we operate,” said Peter Lynch, Winn-Dixie’s chairman, CEO, and president.

San Francisco -- Gap reported Thursday that profit for the quarter ended July 30 dropped 19% to $189 million, compared with $234 million in the year-ago period.

The retailer, which operates the Gap, Old Navy and Banana Republic banners, cited aggressive merchandise pricing reductions for the profit decline. Results beat analysts’ earnings expectations, but the declines still raised concerns about Gap’s performance in the upcoming fall and holiday shopping seasons.

New York City -- Barnes & Noble revealed late Thursday that media conglomerate Liberty Media has acquired a stake in the bookseller for $204 million.

The move, while celebrated by Barnes & Noble, is thought to be a disappointment for investors, who wanted the John C. Malone-controlled Liberty Media to buy Barnes & Noble outright. Liberty’s current investments include Starz Entertainment, home shopping channel QVC and the Atlanta Braves baseball team.

CHESAPEAKE, Va. — The discount store channel continues to thrive, as evidenced by Dollar Tree's strong second-quarter performance.

The company reported that sales for its second quarter ended July 30 increased 11.9% to $1.54 billion from $1.38 billion for the same period last year.  Comparable-store sales increased 4.7%, on top of a 6.7% increase for the second quarter 2010.

Dollar Tree's earnings rose an impressive 26.2% to 77 cents per diluted share from 61 cents per diluted share for the prior-year quarter. 

COLUMBUS, Ohio — Limited Brands reported Wednesday that net income for the second quarter rose a better-than-expected 29% to $231.2 million, compared with $178.7 million in the year-ago period. 

It cited strong full-price sales at Victoria’s Secret and Bath and Body Works for the strong showing.

Revenue rose 10% to $2.46 billion, matching Wall Street expectations. Same-store sales rose 9%.

There was a lot of talk about the favorable membership trends Sam’s Club experienced during the second quarter, thanks to membership and other income that increased 2.5% to $728 million. That prompted Wal-Mart Stores Inc., president and CEO Mike Duke to include Sam’s Club among the list of positive developments he called out regarding the company’s second quarter performance.

“I am also pleased with the momentum in membership income, as Sam’s improves its renewals and upgrades,” Duke said.

PHOENIX — While consumers may be cutting back, it appears most don't feel buying items for their pets falls into the category of discretionary spending. Just look at  PetSmart, which reported that earnings per share soared 32% to 54 cents for the second quarter, compared with earnings per share of 41 cents for the same period last year. Net income totaled $61 million in the second quarter of 2011, compared to $48 million in the second quarter of 2010.