Hibbett Sports Q3 profit up 27%
Birmingham, Ala. — Hibbett Sports Inc. said that its third-quarter profit jumped 27%, amid strong demand for shoes and apparel. The results beat Wall Street expectations and Hibbett raised its earnings forecast for the full year.
For the quarter ended Oct. 29, the sporting-goods chain reported net income of $16 million, up from $12.6 million in the year ago period. Sales increased 11% to $185.2. Same-store sales rose 7%.
Books-A-Million implements Checkpoint’s RF EAS solution to reduce shrink
Philadelphia — Checkpoint Systems, a leading global supplier of shrink management, merchandise visibility and apparel labeling solutions for the retail industry, announced that it is partnering with Books-A-Million to improve the retailer’s loss prevention program and enhance its customers’ shopping experiences through its electronic article surveillance (EAS) solution.
“Our mix of legacy loss prevention systems wasn’t well suited for books and didn’t enable us to utilize source tagging for greater efficiencies and a better customer experience,” said Chad Tice, VP loss prevention at Books-A-Million, which operates 230 stores nationwide. “We made a capital investment with Checkpoint because it provided a superior plug and play solution, has a national footprint and offers dedicated in-house experts who provide quality implementation results on a consistent basis. In fact, we’ve already seen an immediate impact by generating merchandise recoveries and expect a positive impact on shrink.”
Checkpoint’s antennas are advanced EAS solutions for retailers that want a reliable RF-based (radio frequency) system. By combining RF technology with ECO electronics (offering reduced energy consumption), robust communications and remote alarm data-capture capabilities, these antennas maximize loss-prevention effectiveness in any store environment. In addition, by reducing losses, retailers also provide customers with a better shopping experience, because the products they seek are more often on shelves.
Checkpoint is currently implementing its EAS antennas in about 90 Books-A-Million stores (including 40 newly opened stores) and will begin a second phase in an additional 50 stores in first quarter 2012.
“We are excited to partner with Books-A-Million and we are delighted that it has already begun realizing immediate benefits in shrink reduction,” said Farrokh Abadi, president shrink management solutions, Checkpoint Systems. “In addition, we admire Books-A-Million’s forward-looking strategy of source tagging, which can now be deployed to reduce tagging costs and provide a less intrusive protection method – and better shopping experience for its valued customers.”
Dollar General accepting MasterCard credit cards
Purchase, N.Y. — Dollar General is now accepting MasterCard credit cards at all of the nearly 10,000 Dollar General locations across the country, expanding on previous acceptance of MasterCard debit and prepaid cards.
“Dollar General was the first among small-box value discounters to roll out readers for electronic benefits cards and bank debit and credit cards, making transactions even more convenient for customers.
“We are committed to collaborating with our merchant partners to provide an easier, more secure and more efficient payment choice,” said Craig Vosburg, group executive, U.S. Market Development, MasterCard Worldwide. “We believe that the expanded convenience and enhanced customer experience that MasterCard delivers will help support Dollar General’s efforts to drive greater sales and loyalty.”
Over the next year, Dollar General will also begin distributing MasterCard general purpose reloadable prepaid cards in all of its locations.