Marketing

Hibbett Sports Inc. says a shift in back-to-school tax-free weekends was to blame for softness in same store sales in the second quarter.

The sporting goods retailer says net sales for the 13-week period ended Aug. 1 increased 2.8% to $199.3 million compared with $193.9 million for the 13-week period ended Aug. 2, 2014. Same store sales decreased 1.1%. Net income was $7 million compared with $8.4 million for the 13-week period ended Aug. 2, 2014. Earnings per diluted share totaled 28 cents, compared with 32 cents for the 13-week period ended Aug. 2, 2014.

Foot Locker Inc. continues to cash in on the trend toward wearing fashionable active apparel, as the company reported impressive sales and earnings growth in its latest quarter.

For the second quarter ended Aug. 1, the retailer posted net income of $119 million, or 84 cents per share, compared with net income of $92 million, or 63 cents per share, last year, a 33% increase. Same store sales increased 9.6%. Total sales increased 3.3%, to $1,695 million this year, compared with sales of $1,641 million for the corresponding prior-year period.  

Amazon.com is planning to open a fifth fulfillment center in the state of Texas.

In Texas, Amazon currently employs more than 3,500 full-time associates, has invested more than $400 million in the state and continues to grow its operations to meet customer demand. Amazon’s other Lone Star State fulfillment centers are located in Schertz, Coppell, and Haslet, with a fourth facility under construction in Dallas.

Nashville, Tenn. — Even as net sales climbed, Kirlkland’s Inc. missed Wall Street expectations with growing net loss in the second quarter of fiscal 2015. Increases in operating expenses and depreciation helped more than double net loss to $2.3 million from $1.1 million the same quarter a year earlier.

Net sales rose 10% to $233.6 million from $211.7 million. Same-store sales, including e-commerce, rose 4.8%.

Bentonville, Ark. — Sam’s Club is “socializing” with small business owners in a new social media marketing campaign. The warehouse club division of Wal-Mart is launching #SmallBizHelp, an interactive social campaign that offers expert advice on starting and running a business.

Houston — Stage Stores Inc. plans to close 90 underperforming stores, representing 4% of total sales, after a disappointing second quarter that missed Wall Street expectations for profit and revenue. The retailer expects the closures to enhance its capital efficiency, deliver higher productivity and be accretive to earnings.

The 90 closings include 27 stores expected to be shut down during fiscal 2015. Stage also plans to open three new stores during the fiscal year.

Columbus, Ohio — L Brands Inc. met Wall Street expectations with profit and revenue in the second quarter of fiscal 2015. Net income grew 7% to $202.48 million from $188.36 million the same period a year earlier.

The cost of goods sold rose at a slower rate than net sales, helping boost profits. Net sales grew 4% to $2.76 billion from $2.67 billion. Same-store sales rose 3% overall, with the Victoria’s Secret and Bath & Body Works banners both posting a 3% same-store sales lift.

Jacksonville, Fla. — Profit almost doubled at Stein Mart Inc. during the second quarter of fiscal 2015. Stein Mart reported net income of $4.1 million, up 58% from $1.7 million the prior year quarter.

A slow pace of growth in cost of merchandise sold and essentially flat selling, general and administrative (SG&A) expenses helped drive strong profit growth. Net sales rose 4% to $311.58 million from $298.16 million.

Kearney, Neb. — The Buckle Inc. beat Wall Street expectations for profit in the second quarter of fiscal 2015. The retailer achieved this feat even as net income slipped 4% to $23.5 million from $24.1 million.

Growth in cost of sales and selling expenses cut The Buckle’s profit. Net sales increased 0.1% to $236.1 million from $235.7 million. Same-store sales decreased 1.7%. In one bright note, online sales increased 17% to $20.1 million from $17.1 million.

L Brands Inc. continues to elude the troubles that have plagued other mall retailers, as the company reported a spike in same store sales.

The parent company of Bath and Body Works and Victoria's Secret said earnings per share for the second quarter ended Aug. 1 increased 8% to 68 cents compared to 63 cents for the quarter ended Aug. 2, 2014. Net income was $202.5 million compared to $188.4 million last year. Same store sales increased 4%.