Retail Stores

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.

Ross Stores reported Thursday that net income for the first quarter surged 21 percent to $208.6 million, from $173 million in the same period last year. Sales increased 14 percent to $2.4 billion, and same-store sales rose 9 percent. “We believe that favorable weather across many of our markets also contributed to our above-plan performance," said Michael Balmuth, CEO, about the results. Balmuth also said the retailer has increased its long-term store potential to 2,500 U.S. locations, comprised of 2,000 Ross Dress for Less stores (up from a prior target of 1,500 stores) and 500 DD’s Discounts stores.

Coraopolis, Pa.-based Dick's Sporting Goods plans to open 40 new stores and relocate five others in 2012. The company also expects to reposition two Golf Galaxy stores. Four of the new stores are slated to open in the second quarter of 2012. Currently, the company operates 486 Dick's Sporting Goods stores in 44 states, as well as 81 Golf Galaxy stores in 30 states. 

Thanks to a new partnership with mega-retailer Target Corp., the Curiosity Shoppe is on track to blow up from a boutique gift store in San Francisco to a household name. Curiosity Shoppe owners Lauren Smith and Derek Fagerstrom will "curate a 60-plus-piece collection of entertaining accessories, stationery, kitchenware, games, crafts and curiosities" that beginning Sept. 9 Target will carry in its stores - all 1,700 of them. The Curiosity Shoppe is the second San Francisco retailer Target selected. The first is the Candy Store, a retailer selling old-fashioned sweets in vintage jars.

Sales at retailers barely rose in April as the boost from an unseasonably warm winter faded, pointing to some loss of momentum in consumer spending early in the second quarter. Retail sales edged up 0.1 percent, held back by a decline in receipts from building materials and clothing stores, the Commerce Department said on Tuesday. That was the smallest gain since December when sales were flat.

Americans are getting more old-fashioned in their shopping habits. That’s the claim of the 2012 Shopper Engagement Study, which found that more shoppers than ever are making their final shopping decisions inside the store.

Etsy CEO Chad Dickerson announced the company has been certified a B Corporation, joining companies like Patagonia. B Corporations (for "benefit corporation") are a new kind of company that uses the power of business to solve social and environmental problems, Dickerson explained. "It's like a LEED certification or Fair Trade certification, but for a business, not just a building or a bag of coffee."

U.K.-based Marks & Spencer has launched Shwopping, a new initiative that the retailer claims will revolutionize clothes shopping and help consumers to live more sustainable lifestyles. Marks & Spencer wants to put used clothing to good use. Instead of throwing it out, the retailer is asking customers to "shwop" it — give an unwanted piece of clothing every time they buy a new one.

Target plans to open its first stand-alone athletic sportswear brick-and-mortar store under the C9 Active Apparel name. The 3,000 square-foot store will open in San Francisco and sell Target's exclusive C9 by Champion collection.

The real challenge for retailers is in bridging the virtual world with the physical one, the digital/e-commerce world with brick-and-mortar shops. Their ability to connect these experiences and complete the consumer journey, thus successfully combating the “Amazon effect,” is essential in order to stay relevant to the modern, digitally enabled consumer.