Hibbett Sports Q4 income up 22%; to open 65 to 70 stores
Birmingham, Ala. — Hibbett Sports reported that net income for its fiscal fourth quarter increased a better-than-expected 22.3% to $19.4 million, compared with $15.8 million for the same period last year.
Net sales for the fourth quarter increased 14% to $217.4 million from $190.7 million in the year ago period. Same-store sales increased 4.9%.
Looking ahead, in its current fiscal year, the company expects to open 65 to 70 new stores, expand approximately 18 high-performing stores and close 15 to 20 stores.
Net sales for fiscal 2013 increased 11.8% to $818.7 million, compared with $732.6 million for fiscal 2012. Same-store sales increased 6.9% on a 52-week to 52-week period.
Net income for the year increased 22.9% to $72.6 million, compared with $59.1 million for the same period last year.
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Aeropostale posts Q4 loss; will open 60 kids stores in 2013
New York — Aeropostale Inc. reported an unexpected loss for its fourth quarter, hurt by declining same-store sales and store asset impairment charges. The teen apparel chain also forecast a loss for the current quarter, citing markdowns and a weak economy.
"We anticipate a challenging first quarter as a result of expected margin pressures from holiday carryover inventory, and the impact of a weak macroeconomic environment,” said Aeropostale CEO Thomas Johnson.
For the 14 weeks ended Feb. 2, Aeropostale reported a net loss of $671,000, compared with a profit of $26.1 million for the year-earlier period, which included one less week.
Revenue dropped 1% to $797.7 million. Same-store sales, including e-commerce revenue, fell 8%.
Looking ahead, in fiscal 2013, the retailer plans to open approximately 14 Aeropostale stores, approximately 60 P.S. from Aeropostale stores, remodel approximately 30 stores, and close approximately 15 to 20 Aeropostale stores. The company expects to invest approximately $89.0 million in its store growth and certain information technology, compared to approximately $72.3 million in fiscal 2012.
Net sales for fiscal 2012 increased 2% to $2.386 billion, from $2.342 billion in the year ago period. Fiscal 2012 comparable sales, including the e-commerce channel, decreased 2% compared to an 8% decrease for the comparable 53-week period of the prior year. Fiscal 2012 comparable store sales, excluding the e-commerce channel, decreased 4%, compared to a decrease of 9% for the comparable 53-week period of the prior year.
Safeway moves head merchant into ops role
Safeway president of merchandising, Kelly Griffith, was named to a new operational position, filling a void created by the retirement of EVP of retail operations Bruce Everette.
Everette spent 44 years with Safeway and began his career with the company in 1968 as a clerk at a store in Virginia. In choosing Griffith as his successor, Safeway opted for another seasoned executive. Griffith brings 33 years of experience to the operations role and after working through a working his way through a range of retail store management assignments he was assigned to corporate retail operations in 1999. He was named vp of operations for the Seattle region the following year. He later returned to the corporate office as SVP of produce and floral and was named president of Safeway’s Portland division in 2005. He became president of perishables in 2008 and was named president of merchandising in 2010.
"Over the years Kelly has assumed increasing responsibility at both division and corporate levels," said Safeway president Robert Edwards. "He is a well-rounded executive with a deep background in marketing and retail, and he is ready to lead our retail operations to further success. I am extremely pleased to have an executive with Kelly’s experience ready to step up to fill this important role."
Commenting on Everette’s retirement, Safeway chairman and CEO Steve Burd said, "we are deeply grateful to Bruce for his significant and lasting contribution to our company’s success. He is the consummate operating executive whose results and people-oriented approach to the business leave an unmistakable imprint on who we are as a company."
Safeway ended 2012 with 1,641 stores in the United States and western Canada and annual sales of $44.2 billion.
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