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  • Hibbett profit soars on strong same-store sales

    Birmingham, Ala. -- Hibbett Sports said Friday its third-quarter profit jumped 43% as it posted another quarter of double-digit growth in same-store sales revenue. It also boosted its forecast for the year.

    The company reported net income of $12.6 million in the three months that ended Oct. 30, up from $8.8 million a year ago.

    Revenue rose nearly 15% to $167.4 million, from $145.9 million a year ago. Same-store sales rose 12.5%.

  • Gap Q3 income falls 1%, sales up 2%

    San Francisco -- Gap said its third-quarter net income fell 1% to  $303 million for the period that ended Oct. 30. That compares with $307 million a year earlier.

    Revenue rose 2% to $3.65 billion, boosted by increases in online and international sales. Same-store sales were flat.

  • Casual Male swings to profit in Q3, ups guidance

    Canton, Mass. -- Casual Male Retail Group said Thursday it swung to a profit of $0.3 million in the third quarter, compared with a loss of $1.4 million a year earlier.

    Total sales edged up 1.4% to $89.9 million, and same-store sales increased 3%.

  • Gap to open in Chile

    San Francisco -- Continuing its global expansion, Gap announced a franchise agreement to introduce its namesake Gap brand in South America. The first Gap store is expected to open in Santiago, Chile, in the Parque Arauco mall, in September 2011.

    Gap has signed a franchise agreement with Komax, for exclusive rights to operate Gap brand stores in Chile. Komax will purchase merchandise from Gap and must adhere to the company’s quality standards.

  • Abercrombie & Fitch profit up in Q3

    New Albany, Ohio -- Abercrombie & Fitch Co. on Tuesday reported a profit of $50 million for the quarter ended Oct. 30, compared with $38.8 million in the year-ago period. Its results were helped by improving sales in the United States and international revenue.

    Sales rose 18% to $886 million, matching Wall Street expectations. Same-store sales increased 7%. By division, same-store sales rose 8% at namesake stores, 2% at Abercrombie kids stores and 7% at surf-themed Hollister stores.

  • Stride Rite to open in China

    Topeka, Kan. -- Collective Brands, parent company to Payless ShoeSource and Stride Rite, said Tuesday it is planning to take its Stride Rite children’s shoe brand to mainland China next year.

    According to Bloomberg, the company is teaming up with Li & Fung Retailing and will also open stores in Hong Kong, Malaysia and Singapore starting in December, according to Matthew Rubel, CEO of Collective Brands.

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