aggregatedcontent

Hibbett Sports said Friday that its fiscal first-quarter net income increased 24 percent on higher demand for sneakers and other athletic gear. The retailer also raised its profit outlook for the year. For the three months through April 28, Hibbett earned a better-than-expected $26.4 million, up from $21.3 million in the same quarter last year. Revenue increased 14 percent to $232.9 million from $203.7 million. Because of expectations for better sales and controlled costs, the retailer also lifted its profit outlook for the year to $2.50 to $2.65 per share from a previous prediction of $2.35 to $2.55 per share.

Gander Mountain withdrew last week from two National Rifle Association (NRA) events that partially focused on supporting Wisconsin Gov. Scott Walker in next month's recall election. Gander Mountain had planned to host workshops in connection with the meetings at its stores in Rothschild and Eau Claire, WAOW-TV reported. When the company withdrew, the NRA moved the meetings to other locations. Gander Mountain, which sells firearms and other hunting gear, said it has been a longtime supporter of the NRA and has partnered with the organization many times before. But the company said it recently decided to stay away from political events.

J.C. Penney lost $163 million in the first quarter. Sales skidded 20 percent; traffic slowed 10 percent; conversion and average customer spending both fell 5 percent. Grim results indeed. But don't expect CEO Ron Johnson, President Michael Francis and the rest of the crew to throw in the towel on their retail revolution plan just yet.

NEW YORK — Foot Locker's first-quarter profit rose 36%, exceeding Wall Street predictions. For the quarter ended April 28, the company earned $128 million, up from $94 million in the same quarter last year. "2012 has gotten off to an outstanding start, with our first quarter results representing the highest level of quarterly earnings in the company's history," said chairman and CEO Ken Hicks. Sales rose 8.7% to $1.58 billion from $1.45 billion. Same-store sales increased 9.7%. Foot Locker opened 25 new stores and closed 34 others during the quarter, bringing its store base to 3,360 in 23 countries

The use of smartphones is proliferating at a rapid pace. In turn, showrooming — i.e., the practice of researching merchandise in a retail store then purchasing it elsewhere — is also increasingly common. It is, understandably, a thorn in a retailer's side. Whereas the internet has engendered huge shifts in the way media is consumed, mobile technology is causing big changes in retail shopping behavior.

Pacific Business News Lowe’s Cos. Inc. reported a profit of $527 million, or 43 cents per diluted share, for its first fiscal quarter, which ended May 4, a 14-percent increase from the same quarter in 2011. The Charlotte Business Journal reports North Carolina-based Lowe's (NYSE: LOW) also lowed its earnings forecast for the full fiscal year to $1.73 to $1.83 per diluted share, from a previous projected range of $1.75 to $1.85. Lowe's has four stores in Hawaii. See all your followed company news on your personalized dashboard. To access the full benefits of bizWatch and receive a weekly

Limited Brands, parent company of Victoria's Secret and Bath & Body Works, will pilot cross-channel returns beginning this fall. Customers who buy an item via the retailer's online or catalog channel will receive credit and be able to complete a store transaction in September, with plans for a more complete rollout in spring 2013. "We are focused on really putting the power of our $2 billion internet and catalog business and the store together, actually taking returns in-store," said Victoria's Secret megabrand and intimate apparel CEO Sharen Turney during a recent conference call. 

You'll be hard-pressed to find an uglier quarterly report out of the retail sector than what J.C. Penney (JCP) delivered on Tuesday night. Investors figured that new CEO Ron Johnson's "Fair and Square" pricing strategy wouldn't be a hit right away, but no one assumed that the recently remodeled department store chain would be this earnings season's biggest disaster.

Office supply retailer, Staples may have a booming e-commerce business, but its not stopping there. The retailer continues to make improvements with the launch of ship to store. This allows customers to shop online and pick up items in-store, generating a trip to the store for the customer and allowing the retailer to provide the customer with a shopping experience their way.