News

A double-digit comps increase propelled the athletic footwear chain’s 63% second quarter earnings surge.

Dallas -- A Thursday report by the Wall Street Journal said that Warburg Pincus and TPG, the private-equity owners of Neiman Marcus Group Inc., are looking for an exit.

The firms paid $5.1 billion for Neiman Marcus seven years ago; the company is currently valued, according to analysts, at about $4 billion.

BIRMINGHAM, Ala. — Hibbett Sports raised its outlook and remains confident in its strategy after reporting a near 43% spike in earnings per diluted share.

The company reported an impressive 42.9% growth in second-quarter earnings per diluted share to 30 cents from 21 cents for the same period last year. Net income increased 32.9% to $7.9 million from $5.9 million in the comparable-year period.

San Francisco -- Gap Inc. reported Thursday that net income for the quarter ended July 28 surged 29% to $243 million, prompting the retailer to raise its guidance for full-year 2012.

Sales increased 6% to $3.58 billion, compared with $3.39 billion for the second quarter last year. Same-store sales rose 4%.

“Our continued focus on product and store execution are helping to drive positive momentum and we’re committed to sustaining solid performance for the remainder of the year,”said Glenn Murphy, chairman and CEO.

It may be the right thing to do long-term, but Walmart’s plans to slow growth in China, Mexico and Brazil didn’t sit well with investors this week.

The revelation that Walmart would add between 21 and 23 million square feet of space versus the previously planned addition of 30 to 33 million square feet will result in Walmart International spending between $4.6 billion and $5 billion compared to a previously budgeted amount of $5 billion to $5.5 billion.

Seattle -- Nordstrom said Friday it has debuted a new iPad app that will allow its customers to browse and purchase merchandise via their iPad tablets.

New York -- Ann Inc. reported Friday that profit for the second quarter rose 24% to $30.7 million, compared with $24.8 million in the year-ago period.

Same-store sales companywide increase 4.7%; by brand, Ann Taylor store comps increased 3.2% and Loft comps rose 4.1%.

The company raised its outlook for the full year of fiscal 2012, and also said that it is on track to open approximately 65 new stores this year, partially offset by the impact of downsizes at Ann Taylor stores and approximately 30 store closures. 
 

Kearney, Neb. -- The Buckle reported Thursday that net income for the period ended July 28 dipped 2% to $23.2 million, compared with $23.6 million in the year-ago period, but matching forecasts.
 
Net sales rose 2% to $215.5 million, just missing Wall Street’s expected $215.9 million in revenue. Same-store sales dipped 0.8%.