News

BIRMINGHAM, Ala. — Hibbett Sports raised its full year guidance after posting hefty sales and earnings growth for its first quarter. Sales for the first quarter ended April 28, increased 14.4% to $232.9 million compared with $203.7 million for the 13-week period ended April 30, 2011. Comparable-store sales increased 11.1%. Net income for the quarter increased 23.5% to $26.4 million compared with $21.3 million for the same period last year. Earnings per diluted share increased 29% to 98 cents compared with 76 cents for the same period last year.

Nashville, Tenn. -- Kirkland's first-quarter profit dropped 38% amid promotions and price cuts. The company also issued disappointing predictions for the current quarter and full year.

Kirkland’s said it earned $2 million for the quarter ended April 28, down from $3.2 million last year.

Sales rose 3.6% to $97.8 million from $94.4 million. Same-store sales edged down 1.2%.

The home décor chain said it increased marketing to counter a drop in sales.

Sam Club president and CEO Ros Brewer on Thursday named Charles Redfield as Sam’s newest EVP merchandising to replace Linda Hefner who will relocate to Chicago, according to an internal announcement.

New York -- J. Sainsbury Plc is in talks with retailers in the United States and South America to license the technology behind Sainsbury’s Brand Match, a price promise that has fueled sales outperformance, according to a report by Bloomberg.

The Brand Match program ensures shoppers don’t pay more for branded goods such as Coca- Cola at Sainsbury than at competitors by checking more than 14,000 items, including offers and promotions at the point-of-sale. Customers are given a coupon if an item is priced cheaper at a rival.

Sam's Club shoppers in Mexico who have a hankering for deep dish pizza will soon be able to satisfy their craving thanks to a new deal with Uno Foods and Sam's Club. Uno's deep dish pizza, artisan thin crust varieties and other items will be distributed at Sam's Clubs throughout Mexico.

Grapevine, Texas -- GameStop said Thursday that net income for the quarter ended April 28 slid to $72.5 million, from $80.4 million in the same period last year, negatively impacted by weakened demand in the video game market.

Sales for the quarter declined 12.2% to $2 billion, compared with $2.28 billion in the prior year quarter. As previously announced, same-store sales dropped 12.5%.
 

BENTONVILLE, Ark. -- First quarter profits at Walmart exceeded analysts’ estimates as same-store sales increased 2.6% and the company said it strategy of low prices on a broad merchandise assortment is resonating again with shoppers.

Bentonville, Ark. -- Wal-Mart Stores Inc. reported a better-than-expected 9.2% increase in first-quarter profit on increased sales in the United States and a strong performance abroad.

Wal-Mart earned $3.74 billion in the quarter ended April 30, 2012, up from $3.39 billion period.