Footwear

New York -- Foot Locker's first-quarter profit rose 36%, exceeding Wall Street predictions. For the quarter ended April 28, the company earned $128 million, up from $94 million in the same quarter last year.

"2012 has gotten off to an outstanding start, with our first quarter results representing the highest level of quarterly earnings in the company's history," said chairman and CEO Ken Hicks.

Sales rose 8.7% to $1.58 billion from $1.45 billion. Same-store sales increased 9.7%.

BIRMINGHAM, Ala. — Hibbett Sports raised its full year guidance after posting hefty sales and earnings growth for its first quarter. Sales for the first quarter ended April 28, increased 14.4% to $232.9 million compared with $203.7 million for the 13-week period ended April 30, 2011. Comparable-store sales increased 11.1%. Net income for the quarter increased 23.5% to $26.4 million compared with $21.3 million for the same period last year. Earnings per diluted share increased 29% to 98 cents compared with 76 cents for the same period last year.

San Francisco -- Gap Inc. said Thursday that profit for the quarter ended April 28 was flat compared with the year-ago period, but its results beat Wall Street forecasts and prompted the retailer to raise its outlook for the year.

Gap reported a profit of $233 million for the first quarter. Revenue rose 6% to $3.49 billion, beating analysts’ estimated $3.46 billion in revenue, and same-store sales rose 4%.

Charlotte, N.C. -- Women’s apparel retailer Cato Corp. said Thursday that first-quarter profit rose 4% to $31.7 million, from $30.5 million last year, prompting the company to raise its full-year profit forecast.

Sales inched up 1% to $275.3 million, but same-store sales dipped 2% among its Cato, Cato Fashions, Cato Plus, It's Fashion, It's Fashion Metro and Versona Accessories banners.

SAN FRANCISCO — Gap Inc. raised its full year guidance Thursday after reporting first quarter sales and earnings per share growth. For the quarter ended April 28, sales increased 6% to $3.5 billion compared with $3.3 billion for the first quarter last year. The company’s first quarter comparable sales increased 4%. Net income for the first quarter was $233 million, flat compared with the first quarter last year. First quarter diluted earnings per share increased 18% to 47 cents compared with 40 cents last year.

New York -- Foot Locker Inc. said Thursday that current executive VP and retail group president Richard Johnson as been promoted to COO, giving the company veteran operational oversight of all the retailer’s banners. The appointment is effective immediately.

Along with its namesake Foot Locker stores, the company also operates Champs Sports, Kids Foot Locker and CCS.
 

Everett, Wash. -- Action sports retailer Zumiez Inc. reported Thursday that profit surged 140% to $4.5 million for the quarter ended April 28, compared with $1.9 million for the year-ago period.

Revenue rose 22.7% to $129.9 million from $105.9 million, and same-store sales climbed 12.9%.

The company said it plans to open 50 stores in fiscal 2012, including up to 10 locations in Canada.
 

Pleasanton, Calif. -- Ross Stores reported Thursday that net income for the first quarter surged 21% to $208.6 million, from $173 million in the same period last year.

Sales increased 14% to $2.4 billion, and same-store sales rose 9%.

“We believe that favorable weather across many of our markets also contributed to our above-plan performance," said Michael Balmuth, CEO, about the results.