Strategy

New York -- Ann Inc.'s fiscal first-quarter net income increased a better-than-expected 5%, boosted by growing sales at its Loft division. The chain, which also operates Ann Taylor, said Friday that it earned $28.7 million in the three months through April 28, up from $27.3 million a year earlier.

Birmingham, Ala. -- Hibbett Sports Inc. said Friday that its fiscal first-quarter net income increased 24% on higher demand for sneakers and other athletic gear. The retailer also raised its profit outlook for the year.

For the three months through April 28, Hibbett earned a better-than-expected $26.4 million, up from $21.3 million in the same quarter last year.

Benbrook, Texas -- Fort Worth, Texas-based Buxton said Friday that Regal Entertainment Group will open a new Regal Cinemas at The Trails Town Center, located in Benbrook, Texas.

The new 14-screen theater will include the Regal Premium Experience: RPX large format screen, and is the first anchor tenant announced at the Buxton-developed 1.5 million-sq.-ft. Trails Town Center.
 

BIRMINGHAM, Ala. — Hibbett Sports raised its full year guidance after posting hefty sales and earnings growth for its first quarter. Sales for the first quarter ended April 28, increased 14.4% to $232.9 million compared with $203.7 million for the 13-week period ended April 30, 2011. Comparable-store sales increased 11.1%. Net income for the quarter increased 23.5% to $26.4 million compared with $21.3 million for the same period last year. Earnings per diluted share increased 29% to 98 cents compared with 76 cents for the same period last year.

Washington, D.C. -- Combined Properties said that Randy Kenna has joined the company as senior director of development & acquisitions. 

He will be leading the acquisition of new value-add/redevelopment retail and mixed-use projects while also redeveloping portions of Combined's portfolio of retail centers in the region.
 

Sam's Club shoppers in Mexico who have a hankering for deep dish pizza will soon be able to satisfy their craving thanks to a new deal with Uno Foods and Sam's Club. Uno's deep dish pizza, artisan thin crust varieties and other items will be distributed at Sam's Clubs throughout Mexico.

Minot, N.D. -- Chattanooga, Tenn.-based CBL & Associates Properties announced it has acquired Dakota Square Mall in Minot, N.D.

CBL acquired the property from the Lightstone Group.

New York -- Foot Locker's first-quarter profit rose 36%, exceeding Wall Street predictions. For the quarter ended April 28, the company earned $128 million, up from $94 million in the same quarter last year.

"2012 has gotten off to an outstanding start, with our first quarter results representing the highest level of quarterly earnings in the company's history," said chairman and CEO Ken Hicks.

Sales rose 8.7% to $1.58 billion from $1.45 billion. Same-store sales increased 9.7%.