News

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.

Birmingham, Ala. -- Hibbett Sports Inc. said Friday that its fiscal first-quarter net income increased 24% on higher demand for sneakers and other athletic gear. The retailer also raised its profit outlook for the year.

For the three months through April 28, Hibbett earned a better-than-expected $26.4 million, up from $21.3 million in the same quarter last year.

Canton, Mass. -- First-quarter net income dropped 45% at Casual Male Retail Group Inc., hurt by a higher tax rate. The chain’s tax rate jumped to 40.4% from 10.1% due to the reversal of a valuation allowance in fiscal 2011.

The retailer reported Friday that it earned $2.3 million for the three months ended April 28. That's down from $4.2 million in the year-ago period.

Revenue edged up slightly to $95.9 million from $95.8 million on better sales at its DXL and Casual Male XL stores and more money spent per customer.

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.

New York -- Ann Inc.'s fiscal first-quarter net income increased a better-than-expected 5%, boosted by growing sales at its Loft division. The chain, which also operates Ann Taylor, said Friday that it earned $28.7 million in the three months through April 28, up from $27.3 million a year earlier.

New York -- Foot Locker's first-quarter profit rose 36%, exceeding Wall Street predictions. For the quarter ended April 28, the company earned $128 million, up from $94 million in the same quarter last year.

"2012 has gotten off to an outstanding start, with our first quarter results representing the highest level of quarterly earnings in the company's history," said chairman and CEO Ken Hicks.

Sales rose 8.7% to $1.58 billion from $1.45 billion. Same-store sales increased 9.7%.

By Craig McLaughlin, [email protected]

There is a growing trend in the loyalty rewards space -- using reward points as currency, creating a more holistic, streamlined approach to loyalty programs.

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.

ST. LOUIS — Supervalu is bringing its Save-A-Lot banner to Atlantic City, N.J.

The store, which opened Thursday, will become the first full-service grocery store within a 21-mile radius of the city, the company said. The Atlantic City location is the 11th Save-A-Lot store in New Jersey.

CAMDEN, N.J. — Campbell's has tapped Walgreens' social media director to lead the soup maker's digital marketing and social media efforts.