Budgets/Spending/Market Size

New York — Tiffany & Co. said Thursday its first-quarter profit rose 25% on higher revenue across all regions worldwide. The results beat expectations and the company raised its forecast for the year above current Wall Street estimates.

Tiffany net income rose to $81.1 million for the three months ended April 30, up from $64.4 million a year earlier.

Revenue jumped 20% to $761 million from $633.6 million last year, sharply higher than analyst predictions of $702.6 million.

By Scott Setrakian, [email protected]

Who should manage your company's digital ad budget dollars? In an advertising world where digital advertising dollars have now been proven to impact in-store sales, who should own the digital ad budget — the dot.com division, or the stores team?

Optimism about economic expansion is on the rise among senior finance executives in the United States and around the rest of the globe, according to the annual American Express/CFO Research Global Business & Spending Monitor.  In fact, the level of optimism was the highest in the four years that the survey has been conducted, with three in four (75%) executives expecting modest to strong economic expansion over the next twelve months -- up from 71% in 2010. The U.S. figure was even higher at 79%, although most predict modest growth.

WASHINGTON — An Associated Press/GfK poll released Friday determined that rising gas prices will cause “serious” hardship for as much as 41% of Americans.

Almost 3-in-4 adults acknowledged that $4 per gallon or more at the pump will at least cause some hardship.

Target CFO Doug Scovanner moderated analysts’ second-quarter and full-year earnings expectations slightly, although it can at times be difficult to tell given the language used to communicate in the Wall Street guidance game.

BIRMINGHAM, Ala. — A few days after Dick's Sporting Goods reported higher-than-expected earnings, Hibbett Sports posted even more impressive sales and income growth. Hibbett Sports reported that net sales for the first quarter increased 10.4% to $203.7 million compared with $184.5 million for the same period last year. Comparable-store sales increased 6.8%.

Birmingham, Ala. -- Hibbett Sports Inc. reported Friday that net income for the quarter ended April 30 rose 23% to $21.3 million, compared with $17.3 million in the year-ago period.

Revenue increased 10.4% to $203.7 million, beating analysts’ projected $200.8 million in revenue. 

During the quarter, Hibbett opened eight new stores, expanded four others and closed seven underperforming stores. During the rest of the fiscal year, Hibbett said it expects to open between 50 and 55 new stores, close 10 to 15 stores and expand another 15 stores.

New York City -- Ann Inc., the operator of Ann Taylor and Loft stores, posted a 21% increase in its fiscal-first-quarter earnings and raised its full-year sales estimate.

For the quarter ended April 30, Ann reported a profit of $27.3 million, up from $22.62 million in the prior-year quarter.

Sales rose almost 10% to $523.6 million, but margins slipped to 57.3%, against 59% last year. Same-store sales rose 7.8%.
 

New York City -- Foot Locker said on Thursday that its first-quarter profit jumped 76% as sales rose sharply. The retailer, which has benefited from efforts to cut costs and close dozens of poorly performing locations, said it earned $94 million for the quarter that ended April 30.

Sales increased 13% to $1.45 billion, from $1.28 billion a year earlier. Same-store sales rose 12.8%. The results easily beat the average estimates of analysts.

Nashville, Tenn. -- Kirkland's said Friday that its first-quarter net income fell 51% stung by higher expenses, increasing freight costs and competition over price. Its results, however, exceeded Wall Street's expectations.

The company earned $3.2 million for the period ended April 30, down from $6.5 million, a year earlier.

Total operating expenses rose to $29.7 million from $26.7 million.