Sports Authority Income Up in 1Q
Englewood, Calif., The Sports Authority said its net income for the first quarter was $8 million, or 30? per share, compared with $4.2 million, or 16? per share, including merger integration costs of $5.2 million, in the prior year’s first quarter.
Total sales for the quarter increased 3.4% to $591.2 million from $572 million in the year-ago period. Same-store sales rose 1.8%.
“We were pleased with our top-line performance during the quarter, primarily driven by our strength in footwear, apparel and certain hard-goods categories,” said Doug Martin, CEO.
The company expects to open approximately 14 stores, relocate four stores and close six locations during the year.
Bigger Footprint for HEB
San Antonio, H.E. Butt Grocery Co. will open larger stores next year in response to competition from big-box competitors, according to the San Antonio Express News. The chairman of the supermarket chain, Charles C. Butt, told the newspaper that the company will open 160,000-sq.-ft. stores in Texas next year, with locations in Corpus Christi, Round Rock and San Antonio.
Dillard’s Aims to Sell More House Brands
Little Rock, Ark., Dillard’s Inc. plans to increase profits by selling more house brands and emphasizing the value of its fashion apparel, the department store chain’s president, Alex Dillard, said at its annual meeting on Saturday. The company plans nine new stores for 2005.
With 329 stores in 29 states, mostly in the South and West, Dillard’s is viewed as a logical acquisition target. But Dillard would not address the possibility at the meeting.