Corporate Governance

Hibbett Sports on track for 1,000 stores
Hibbett Sports reported relatively flat third quarter same store sales, but the company achieved record new expansion and is prepared to surpass 1,000 units in 2015.

For the third quarter, Hibbett posted profits of $16.9 million, down from $17.3 million in the prior-year quarter. The decline was mainly due to markdowns related to slow selling and aged inventory, the company said.
Norred gains new CPG and retail responsibilities
CROSSMARK veteran Jim Norred was named president of the sales and marketing services company’s Marketing Solutions Group.

Norred most recently served as EVP of corporate development with responsibility for client services, business development, insights and corporate marketing. Prior to that, he served as the company’s CIO. He also has served as president of G2, an integrated marketing joint venture that ultimately was acquired by WPP in 2008.

Serving big men yields big results at DXL

Clothes aren’t the only thing big at Destination XL as evidenced by a double digit third quarter comp increase aided by omnichannel integration.

Sales at Destination XL increased 5% to $93.6 million, compared with $88.7 million in the prior-year quarter. Same store sales increased 5.5%.
Walmart lights the way on solar energy

Walmart is fulfilling its promise earlier this year to make a big investment in solar energy: The retailer has accepted bids from SunEdison and SolarCity to install as many as 400 new solar systems on its facilities over the next four years.
Incoming Gap CEO names new heads of Gap and Banana Republic brands

New York - Gap Inc.'s incoming CEO, Abe Peck, is wasting no time putting his own stamp on the company, naming new presidents for the Gap and Banana Republic brands. Jeff Kirwan, 48, has been tapped to replace Stephen Sunnucks as global president for Gap. And Owen, 49, will succeed Jack Calhoun on Jan. 5 as global president for Banana Republic.
Real estate report: Luxury retail is a high-growth category

Seattle - Colliers International released the highlights of its latest global retail report – examining 125 retail real estate markets in 50 countries – and found that luxury retail continues to show strong growth in the top global markets and prime cities in Asia.
Citizen Watch flagship combined digital elements with sustainable design

LYNDHURST, N.J. - Citizen Watch Company of America opened its first-ever global flagship, in Times Square, New York City. The 1,300-sq.-ft. foot store is designed to appeal to amateur and serious watch enthusiasts alike, with interactive and hands-on displays and exclusive offerings, Multiple 360- degree cases allow for shopping from either side of the case and provide easy movement throughout the store.
Best Buy looks strong heading into holiday

NEW YORK - Best Buy on Thursday reported unexpectedly strong and better-than-expected profit and sales for the third quarter, gaining new momentum as it heads into the holiday shopping season. It was the first time since the third quarter of last year that Best Buy reported positive comparable store sales.
CIT: Middle-market retail execs cautiously optimistic about holidays

NEW YORK - Senior middle-market retail executives are cautiously optimistic about the upcoming holiday season. Fifty-five percent of executives anticipate their total holiday sales will increase by 6% or more in 2014, as compared to only a third last year, according to an annual study conducted by CIT Group.
Report: Retailers to watch this holiday season

Worthington, Ohio - Amazon and Nordstrom shoppers plan to increase their holiday spending the most compared to other shoppers, according to a survey by Prosper Insights & Analytics. The report, “Holiday 2014: Retailers to Watch,” finds that while overall holiday spending plans are up this holiday season, shoppers will still be looking for sales and big discounts and spending only what they have to, making waves for retailers to navigate this year.
Dollar Tree beats Street in Q3; starts holiday sale Nov. 23

Goodlettsville, Tenn. – Dollar Tree Inc. beat Wall Street predictions for profits and sales in a generally strong third quarter of fiscal 2014. Net income rose 6% to $133 million from $125.4 million. Consolidated net sales increased 11% to $2.1 billion from $1.88 billion and consolidated same-store sales increased 5.9%.
L Brands beats Street with strong Q3 profit

Columbus, Ohio – L Brands Inc. beat Wall Street projections with net income of $131.8 million during the third quarter of fiscal 2014, up 43% from $91.99 million the same period the prior fiscal year. A boost in pretax income helped drive L Brands’ impressive profit growth. Net sales rose 7% to $2.32 billion from $2.17 billion, and same-store sales increased 5%.