FINANCE

Hibbett Sports posted fourth-quarter sales that missed predictions, even as earnings were in line with forecasts.   Net sales for the 13-week period ended Jan. 28, increased 0.5% to $246.9 million compared with $245.7 million in the year-ago period.   Same-store decreased 2.2%. Apparel and equipment both experienced declines in comparable store sales, while footwear continued to show stronger sales with a mid-single digit increase.  

Lower sales and store closures widened fourth quarter losses for Sears Hometown and Outlet Stores.   The hardware, appliance and tool retailer reported its net sales for the quarter ended January 28, 2017, decreased $49.4 million, or 9.2%, to $488.9 million compared to fourth quarter 2015. The company blamed the loss on the impact of closed stores (net of new store openings) and a 4.1% decrease in comparable store sales.  

An online giant and the world’s biggest retailer claim the top two positions in a study that ranks retail companies by their brand value.   Amazon ranked as the world’s most valuable retail brand in the annual study by valuation and strategy consultancy Brand Finance. The company’s brand value, $106.4 billion, is nearly double that of Walmart ($62.2 billion), which ranked as the second most valuable retail brand. (An explanation of the ranking is provided at the end of article.)    

The Buckle reported earnings for its fourth quarter that missed expectations amid a rough market for teen retailers.    Net income for the quarter ended Jan. 28 was $36.0 million, or $0.75 per share ($0.74 per share on a diluted basis), compared to $98.0 million, or $2.04 per share ($2.03 per share on a diluted basis).   Buckle’s net sales fell 15.7% to $280.0 million, from $332.0 million for the prior year.   Same-store sales for the quarter decreased 16.1%.

Staples swung to a loss in its fourth quarter, and said it would close more stores in 2017.   The retailer reported a net loss of $615 million for the quarter ended Jan. 28, or $0.94 per share, compared to a profit of $86 million, or 20 cents per share, for the year-ago period. Adjusted non-GAAP earnings came in at $0.25 per share, one cent below the consensus estimate.  

It’s a done deal.   Private investment firm CriticalPoint Capital on Thursday that it has completed the acquisition of JackRabbit and its respective stores from The Finish Line.   The acquired company, its stores and e-commerce platform will continue to operate under the JackRabbit brand. At the end of 2016, there were 65 JackRabbit and JackRabbit-affiliated stores in 18 states.    

Sears Holding Corp. narrowed its adjusted loss in its fourth quarter, but its revenue continued to erode and its debt obligations continued to mount.   Sales plunged 17% to $6.05 billion in the quarter ended Jan. 28, down from $7.3 billion a year earlier. Although the chain’s reduced store portfolio contributed to the decline, same-store sales fell 10.3%, driven by an 8% drop at Kmart and a 12.3% at Sears.  

RadioShack Corp. filed for Chapter 11 bankruptcy protection, its second filing in just over two years.   The electronics retailer said it would close approximately 200 stores, and evaluate options on the remaining 1,300 locations.      General Wireless Operations Inc. acquired the then-bankrupt RadioShack in April 2015, with a plan to turnaround the struggling company by co-branding the bulk of the stores with wireless carrier Sprint.