eCommerce

Indianapolis -- Electronics and appliances retailer Hhgregg said Friday it will open 14 new stores in the Chicago area on Sept. 15.

Chicago is a new market for Hhgregg, and with the opening of 14 new stores, it will become the company’s largest market.
 

Birmingham, Ala. -- Hibbett Sports reported Friday that profit for the quarter ended July 30 surged 48% to $5.9 million, compared with $4 million a year earlier.

Revenue rose more than 9% to $153.1 million, beating Wall Street’s projected $151.9 million in revenue.

 

New York City -- Barnes & Noble revealed late Thursday that media conglomerate Liberty Media has acquired a stake in the bookseller for $204 million.

The move, while celebrated by Barnes & Noble, is thought to be a disappointment for investors, who wanted the John C. Malone-controlled Liberty Media to buy Barnes & Noble outright. Liberty’s current investments include Starz Entertainment, home shopping channel QVC and the Atlanta Braves baseball team.

PHOENIX — While consumers may be cutting back, it appears most don't feel buying items for their pets falls into the category of discretionary spending. Just look at  PetSmart, which reported that earnings per share soared 32% to 54 cents for the second quarter, compared with earnings per share of 41 cents for the same period last year. Net income totaled $61 million in the second quarter of 2011, compared to $48 million in the second quarter of 2010.

SECAUCUS, N.J. — The Children's Place Retail Stores announced second quarter net sales were $343.5 million, compared with $345.3 million in the second quarter of 2010. Comparable-retail sales declined 5.6% in the second quarter of 2011.

Walmart beat analysts’ second quarter earnings estimates by a penny when it reported earnings per share of $1.09. The company also touted the fact that it was raising its full year profit forecast, although it did so by the one cent of additional profit it had already banked during the second quarter. Walmart said it now expects full year profits to total between $4.41 and $4.51 versus prior guidance of $4.35 to $4.50.

Lowe’s launched Lowes.com en Español, a Spanish language option that enhances Lowe’s ability to meet the needs and expectations of Hispanic consumers.

Kearney, Neb. -- Teen apparel retailer The Buckle reported Thursday that net income for the quarter ended July 31 climbed 13.5% to $23.6 million. Revenue rose 12.6% to $212.4 million, and same-store sales increased 8.5%.

The company also reported that its CFO Karen Rhoads will remain in her position, after having said earlier this year that she would be stepping down.
 

City of Industry, Calif. -- Hot Topic reported Wednesday that it tightened its loss in the second quarter to $6.2 million, compared with a loss of $6.3 million a year earlier.

Revenue edged up to $150.9 million from $150 million. Same-store sales rose 2.6% for quarter.

Hot Topic said it will open 25 to 45 Torrid stores in fiscal 2012. It also plans to close 10 to 20 Hot Topic stores and about five Torrid stores next year, and remodel or relocate 40 to 50 Hot Topic stores and 10 to 20 Torrid stores.