News

GRAPEVINE, Texas — Decreased demand for new video game hardware and software contributed to GameStop's 12.2% sales decline in global sales during the first quarter of 2012. Total global sales for the first quarter of 2012 were $2 billion compared with $2.28 billion in the prior year quarter, a decrease of 12.2%. As announced last week, consolidated comparable-store sales decreased 12.5% compared to the prior year quarter.

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.

EL SEGUNDO, Calif — Fresh & Easy Neighborhood Market has launched a new range of over 50 pre-seasoned, ready-to-cook items in stores just in time for the summer grilling season. The "Ready to Cook" line includes beef, pork, chicken, fish and vegetable options all pre-marinated or pre-seasoned ready to go straight in the skillet, microwave or on the grill.

Neiman Marcus took full advantage of its Northern California locale in the design of its store in Walnut Creek, Calif. The interior finishes and materials draw from the rich colors of the surrounding landscape, and the space takes advantage of the famed California sunshine. The two-level store—the 42nd Neiman Marcus store to date—offers a fresh take on modern luxury shopping in a smaller format for the upscale retailer, featuring 85.870 sq. ft. of selling space. 

BENTONVILLE, Ark. — Sam's Club has invited pitmaster and cookbook author Troy Black to show families how to create the perfect Memorial Day meal. Black will star in a series of grilling demonstration videos that can be viewed on the SamsClub.com/meals "Tips & Videos" tab. The site also features photos and printable recipes on the "Easy Recipes" tab.

San Francisco -- Gap Inc. said Thursday that profit for the quarter ended April 28 was flat compared with the year-ago period, but its results beat Wall Street forecasts and prompted the retailer to raise its outlook for the year.

Gap reported a profit of $233 million for the first quarter. Revenue rose 6% to $3.49 billion, beating analysts’ estimated $3.46 billion in revenue, and same-store sales rose 4%.

HOFFMANESTATES, Ill. — Sears Holdings posted net income of $189 million in the quarter, compared with a loss of $165 million in the prior-year period.

After several rounds of closings of Kmart and Sears full-line stores in the past months, revenues decreased $270 million to $9.3 billion for the quarter ended April 28. Domestic comp-store sales declined 1.3% -- 1.0% at Sears Domestic and 1.6% at Kmart. Sears also saw declines in its home appliances and consumer electronics categories.

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.