Strategy

Birmingham, Ala. -- Hibbett Sports said Friday its third-quarter profit jumped 43% as it posted another quarter of double-digit growth in same-store sales revenue. It also boosted its forecast for the year.

The company reported net income of $12.6 million in the three months that ended Oct. 30, up from $8.8 million a year ago.

Revenue rose nearly 15% to $167.4 million, from $145.9 million a year ago. Same-store sales rose 12.5%.

Milford, Conn. -- Don Fertman, chief development officer for the Subway sandwich chain, is the latest executive to go undercover on the CBS television series “Undercover Boss.” Fertman, a 29 year veteran of the restaurant chain, will be seen baking bread, stocking sandwich ingredients, slicing vegetables, taking inventories and serving customers, on the episode that airs Nov. 21, at 9 p.m. ET/PT on CBS.

By Julius C. Dorsey Jr., [email protected] and Roy T. Bergold Jr.[email protected]

Aside from maybe the eccentric billionaire who on a whim decides to open a shop to sell hand-whittled tumbleweed sculptures, probably not many. For the rest of the owners and managers in the real world, sales and profits are the only reasons they’re in business.

San Francisco -- Gap said its third-quarter net income fell 1% to  $303 million for the period that ended Oct. 30. That compares with $307 million a year earlier.

Revenue rose 2% to $3.65 billion, boosted by increases in online and international sales. Same-store sales were flat.

New York City -- Foot Locker on Thursday reported a profit for its third quarter on stronger margins for the retailer.

The company said it earned $52 million for the quarter that ended Oct. 30. That compares with a loss of $6 million during the same period year earlier, when the company also had $22 million in impairment charges.

Revenue rose 5% o $1.28 billion. Same-store sales were up 8.1%.

Philadelphia -- Destination Maternity said its fourth-quarter net income tripled as cost-cutting measures paid off, even as sales in some categories fell.

The company earned almost $4.3 million for the quarter that ended Sept. 30, up from $1.4 million during the same period last year. Revenue rose slightly to $124.3 million, from $123.8 million a year earlier. Same-store sales fell 2.3%.

Chicago -- The new, post-recession American shopper is high maintenance, promiscuous and demands an innovative and engaging experience in-store and online. According to a new study released by Leo Burnett’s marketing services arm, Arc Worldwide.

Brentwood, Texas -- Tractor Supply Co., announced plans to open a regional distribution center in Franklin, Ky.

The new 840,000-sq.-ft. distribution center, expected to be in operation by the end of 2011, will serve stores in the mid-eastern United States.

 

New York City -- AnnTaylor Stores Corp.'s fiscal third-quarter profit rose, aided by better-than-expected sales growth. Net income surged to $24.2 million in the third quarter ended Oct. 30, compared with $2.1 million a year earlier.

Total sales rose 9.3% to $505.3 million, above analysts' expectations of $492.8 million.

Same-store sales increased 11.7% overall, with a 21.9% rise at the Ann Taylor brand and a 4.5% less expensive Loft chain.

Miami -- Haagen Dazs and Gelosia are slated to open at The Palms at Town & Country, in Miami, in mid-November. Haagen Dazs will open a 960-sq.-ft. ice cream store, and Gelosia will open a 1,040-sq.-ft. location.

The Palms at Town & Country, owned by TIAA-CREF, being redeveloped by Flagler Development Group and managed by Jones Lang LaSalle Retail, is home to retailers such as Nordstrom Rack, Loehmann's, New York & Co., Marshall's, Men's Wearhouse, Publix and Shaq's 24 Hour Fitness.