FINANCE

Hibbett Sports Q4 income up 22%; to open 65 to 70 stores

BY Marianne Wilson

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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OPERATIONS

Safeway names new EVP retail ops

BY Staff Writer

Pleasanton, Calif. — Safeway Inc. said that Bruce Everette, 61, is retiring as EVP retail operations after a 44-year career at Safeway. He will be replaced by Kelly Griffith, currently the president of merchandising.

“We are deeply grateful to Bruce for his significant and lasting contribution to our company’s success," said chairman and CEO Steve Burd. "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."

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FINANCE

Aeropostale posts Q4 loss; will open 60 kids stores in 2013

BY Marianne Wilson

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.

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buangsila001 says:
Mar-17-2013 08:17 am

This company targets teens
This company targets teens for their clothing need. A very good ideas for the executive for the teens share the big pie in the consumer market. - Michael Courouleau

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