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DDR adds two Dick’s Sporting Goods stores at Utah properties
Beachwood, Ohio -- Mall owner DDR Corp. said Friday that Dick's Sporting Goods will open stores at two of its shopping centers in Utah.
The new Dick's Sporting Goods locations will replace former F.Y.E. stores and result in higher and longer-term contracted rents. At the same time, the re-tenanting improves the merchandise mix and credit quality of cash flows at the shopping centers by replacing underperforming stores with a market-share and category-leading retailer.
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Hibbett Sports profit leaps 27% in Q4, to open 40 net new stores
Birmingham, Ala. -- Hibbett Sports Inc. reported Friday that profit for the quarter ended Jan. 28 jumped 27% to $15.8 million, compared with $12.5 million in the year-ago period.
Revenue increased 10% to $190.7 million from $173.2 million, missing Wall Street’s expected $192.2 million in revenue. Same-store sales rose 7.2%.
For the full year, Hibbett reported net income of $59.1 million, up from $46.4 million last year. Revenue rose to $732.6 million, from $665 million.