-
Hibbett Sports Q3 profit up 27%
Birmingham, Ala. -- Hibbett Sports Inc. said that its third-quarter profit jumped 27%, amid strong demand for shoes and apparel. The results beat Wall Street expectations and Hibbett raised its earnings forecast for the full year.
For the quarter ended Oct. 29, the sporting-goods chain reported net income of $16 million, up from $12.6 million in the year ago period. Sales increased 11% to $185.2. Same-store sales rose 7%.
-
Report: U.S. retail availability expected to decline in 2012
Boston -- A report released Monday by CBRE Econometric Advisors, a division of Los Angeles-based CBRE Group, said that the U.S. retail real estate sector’s availability rate is expected to decline to 12.4% by the end of 2012.
In 2013, the national retail availability rate, including neighborhood and community centers, will drop further, reaching 11.7%.
In third quarter 2011 the retail availability rate was 13.2%. This rate remains well above the previous availability peak of 11.3% set in second quarter 1992.