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Hibbett Sports Q4 income up 22%; to open 65 to 70 stores
Birmingham, Ala. -- Hibbett Sports reported that net income for its fiscal fourth quarter increased a better-than-expected 22.3% to $19.4 million, compared with $15.8 million for the same period last year.
Net sales for the fourth quarter increased 14% to $217.4 million from $190.7 million in the year ago period. Same-store sales increased 4.9%.
Looking ahead, in its current fiscal year, the company expects to open 65 to 70 new stores, expand approximately 18 high-performing stores and close 15 to 20 stores.
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Aeropostale posts Q4 loss; will open 60 kids stores in 2013
New York -- Aeropostale Inc. reported an unexpected loss for its fourth quarter, hurt by declining same-store sales and store asset impairment charges. The teen apparel chain also forecast a loss for the current quarter, citing markdowns and a weak economy.
"We anticipate a challenging first quarter as a result of expected margin pressures from holiday carryover inventory, and the impact of a weak macroeconomic environment,” said Aeropostale CEO Thomas Johnson.