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Foot Locker starts the year on the right foot
Foot Locker is off to a great start in 2014. The specialty athletic retailer’s first quarter sales and profits were the highest in its history for the third consecutive year.
Net income for the quarter ended May 3 was $162 million, or $1.10 per share, compared with net income of $138 million, or $0.90 per share, last year. Total net sales increased 14%, to $1.9 billion this year, compared with sales of $1.6 billion for the corresponding prior-year period. Comparable-store sales increased 7.6%.
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Hibbett Sports eyes growth following strong first quarter
Strong demand in Hibbett Sports’ core footwear and brand-focused apparel business helped drive sales in the first quarter. The sporting goods retailer opened a record number of new stores and fully converted operations to its new wholesale and logistics facility, but it’s not done growing its footprint in fiscal 2015.