Retail

Birmingham, Ala. -- Hibbett Sports reported Friday that net income for the quarter ended Oct. 27 climbed 18.8% to $19 million, compared with $16 million in the year-ago period.

Sales rose 9.6% to $202.9 million, and same-store sales increased 6.4%.

The sporting goods retailer said it is on track to open 57 to 60 new stores in fiscal 2013, expand approximately 17 high-performing stores, and close up to 18 stores.

Minneapolis -- Supervalu on Friday said it would implement a pay freeze for all employees at its corporate headquarters and said it would also reduce or suspend matching contributions to workers’ 401(k) plans, effective next year.

Value never goes out of style during the holiday’s and Ross Stores is well positioned to capitalize on this most enduring of seasonal behaviors.

Baltimore -- Danfloss,  a manufacturer of high-efficiency electronic and mechanical components and controls for air-conditioning, heating, refrigeration and motion systems, and provider of energy management and control solutions for the food retail industry, was chosen by Supervalue to provide a range of energy-saving products and support for a remodel project that has resulted in the development of the company’s first grocery store operating 100%  on natural refrigerants.

For a split second after the presidential election the victor and the vanquished struck a conciliatory tone on finding the balance between raising taxes and cutting spending. Wal-Mart Stores, Inc. president and CEO Mike Duke wants the issue resolved as soon as possible.

Duke was among a group of business leaders in Washington earlier this week meeting with President Barack Obama and following the meeting Walmart released a statement expressing his views on the issue.

Boca Raton, Fla. -- In a letter to Office Depot Inc., activist investor Starboard Value asked the office supply retailer to immediately revoke its poison pill provision on the grounds that it would limit the influence of shareholders.

Starboard, Office Depot’s largest shareholder with a 14.8% stake, wrote that it believes “the implementation of the poison pill, with a threshold just above our current ownership, is designed specifically to entrench the current board.”

Phoenix -- Manthan Systems announced that Sprouts Farmers Markets has selected Manthan’s ARC platform for enterprise-wide reporting and analytics. Currently operating 148 retail stores across eight states, Sprouts Farmers Markets has become synonymous with fresh produce, great prices and old-fashioned customer service.

New York -- Tommy Bahama Group Inc. said Thursday its first Tommy Bahama global flagship store will open on Nov. 17 at 551 Fifth Avenue in Manhattan.