Bashas makes LED lights standard for new stores and retrofits
Durham, N.C. — Supermarket retailer Bashas has installed energy-efficient LED lighting from Cree in its Tempe, Ariz., location. The newly renovated store features luminaires powered by Cree TrueWhite technology, with an anticipated energy savings of 47% over the store’s previous design.
“Shopping is a highly visual experience and it’s critical to showcase products in their most appetizing colors,” said Scott Murphy, construction manager for Bashas, Chandler, Ariz. “When we decided to remodel the Tempe location, we initially chose fluorescent T8s and CFL downlights until we were introduced to Cree LED lighting. Cree luminaires not only deliver the best LED lighting in the industry but also provide significant energy and maintenance savings compared to outdated technologies. In the grocery store industry, it’s all about margins and Cree helped add green to our bottom line.”
Featuring a number of luminaires from Cree’s portfolio, the installation resulted in a one-for-one replacement against the original specification due to the upgrade in light quality as well as energy and maintenance savings. Additionally, the Cree CS18 luminaires deliver strong vertical light levels, illuminating all levels of the store’s shelves using less power and providing significant energy savings. The installed Cree luminaires further help reduce energy consumption with their dimming capabilities.
Bashas’ expects the Cree system to pay for itself within two years.
“Bashas’ is so pleased with our decision to install Cree LED lights, it is now the standard for new and retrofit stores,” Murphy said. “Not only do they offer energy and maintenance savings, but they produce beautiful, long-lasting lighting that make the store’s products pop.”
Softer-than-expected Q2 comp-store sales for Hibbett
BIRMINGHAM, Ala. — Hibbett Sports reported a weaker-than-expected comparable-store sales increase of 0.3% for the second quarter ended Aug. 3, compared to a 4.8% increase in the prior-year period.
Last year’s second quarter benefited from the extra week in the fiscal calendar which resulted in approximately $12 million of sales.
Net sales for the quarter were $186.2 million, up 12.6% from $165.4 million for prior-year period. The company’s net income for the quarter was $10.5 million, up 33.5% from $7.9 million for prior-year period. Earnings per diluted share increased 33.3% to $0.40 for the quarter, compared with $0.30 for the prior-year period.
“We delivered a solid increase in earnings for the second quarter," said president and CEO Jeff Rosenthal. "Comparable store sales were softer than planned due to a challenging economic environment; however, we are encouraged by a strong start to the third quarter. New store performance continues to be strong and we remain confident with the pace of new store openings.”
For the quarter, Hibbett opened 17 new stores, expanded 3 high performing stores and closed 4 underperforming stores, bringing the store base to 892 in 31 states as of Aug. 3. For fiscal 2014, the company expects to open 70-75 new stores, expand approximately 18 high performing stores and close 15 to 20 stores.
Hibbett Sports operates sporting goods stores in small to mid-sized markets, predominately in the South, Southwest, Mid-Atlantic and Midwest regions of the United States. The company’s primary store format is a 5,000-sq.-ft. store located in strip centers and enclosed malls.
Foot Locker Q2 up 12%
New York — Foot Locker’s second-quarter net income increased 12%, partly due to a recent acquisition. (In July, the retailer completed its purchase of German athletic store chain Runners Point Group for $94 million.)
For the period ended Aug. 3, the company earned $66 million, compared to $59 million a year ago. Its results were in line with expectations.
Revenue rose 6.4% to $1.45 billion from $1.37 billion, in line with expectations. Same-store sales rose 1.8%.
“Sales in the second quarter were more challenging than we planned for, especially in the United States. Despite this headwind, we produced second quarter ongoing profit and sales results that were our best ever as Foot Locker, Inc., demonstrating that the execution of our strategic priorities continues to deliver solid financial and operational results for our shareholders and other stakeholders,” said Ken C. Hicks, chairman and CEO.
With the addition of 194 stores acquired in the Runners Point Group transaction, Foot Locker operated 3,495 stores in 23 countries in North America, Europe, Australia, and New Zealand as of August 3, 2013.
In addition, 45 franchised Foot Locker stores were operating in the Middle East and South Korea, as well as 24 Runners Point and Sidestep franchised stores, which were added as part of the RPG acquisition.