FINANCE

Abercrombie & Fitch's efforts to attract more shoppers with a better store experience and updated merchandise mix are paying off as the retailer reported an unexpected increase in same-store sales and a 30% increase in profit for the fourth quarter.

Abercrombie said overall same-store sales rose 1% in the quarter ended Jan. 30, the first gain in the metric since the third quarter 2012. Analysts on average were expecting a decline of 0.10%. The gain in same-store sales was driven by a 4% increase in the Hollister division.

American Eagle Outfitters didn’t exactly soar in the fourth quarter, but its low single-digit same-store sales increase was better than most and benefitted from recent store closures.

Total company sales increased 3% to $1.11 billion and same store sales grew 4% after a flat performance in the fourth quarter the prior year. Earnings per share increased 17% to 42 cents from the 36 cents earned from continuing operations the prior year. The company expects its first quarter same store sales to increase in the mid-single digits.

Cold winter weather in the Western states helped Big 5 Sporting Goods post an increase in same-store sales and profit in the fourth quarter.

For the fourth quarter ended Jan. 3, the retailer said net sales increased to $275 million from net sales of $250.3 million for the fourth quarter of fiscal 2014. Same-store sales increased 0.1% for the fourth quarter of fiscal 2015 and 1.4% for the full year.

The Sports Authority on Wednesday filed for Chapter 11 bankruptcy protection and said it plans to close or sell as many as 140 of its 463 stores nationwide. The beleaguered company has struggled in recent years under increased competition not only from online players, but also from the likes of Dick’s Sporting Goods and specialty retailers such as Lululemon that have capitalized on the “athleisure” boom in fitness apparel.

Sports Authority Inc., which is reportedly preparing to file for bankruptcy, has discussed selling stores and intellectual property to rival chain Dick’s Sporting Goods Inc. and other parties, according to Bloomberg.

Sports Authority, once the largest sporting-goods retailer in the U.S., is heading toward default after years of losing ground to competitors. The Englewood, Colorado-based chain missed a Jan. 15 interest payment on some of its debt and failed to make the payment during a 30-day grace period.

Publix Super Markets hit a milestone in 2015 as it exceeded the $30 billion mark in annual sales and also racked up another impressive quarter.

The grocer reported that net earnings for the quarter ended Dec. 26, 2015, rose 15% to $521.1 million, from $453.3 million in the year ago period. For the full year, earnings rose some 13%, to $2 billion, compared to $1.7 billion last year.

Dollar Tree on Tuesday credited sales at its Family Dollar division as helping to boost the company’s overall results for the fourth quarter. But the increase still fell short of analysts expectations.

Sales for the quarter ended Jan. 30 totaled $5.37 billion, a 116.7% increase from the year-ago period but still less than expected. The boost in revenue was the result of $2.68 billion in sales from the Family Dollar segment.