Hibbett Sports Blows Past Wall Street’s Targets In Q1

Hibbett Sports significantly hiked its full-year guidance after reporting sales and earnings in the first quarter ended May 1 came in well ahead of Wall Street’s estimates. Mike Longo, CEO, said, “New customer retention, improved store level engagement, government stimulus, and access to coveted brand name products contributed to our comparable sales growth of 87.3 percent.”

TJX Cos. Reinstates Share Repurchase Program

The TJX Cos. Inc. announced that its Board of Directors has reinstated its share repurchase program. TJX also announced the declaration of a quarterly dividend on its common stock of 26 cents per share.

Athleta Sees Sales Surge In Q1

Gap Inc. reported that Athleta’s net sales in the first quarter were up 56 percent versus 2019. Comparable sales grew 27 percent year-over-year and 46 percent versus 2019.

Urban Outfitters Tops Wall Street’s Targets In Q1

Urban Outfitters Inc. announced a record net income of $54 million, or 54 cents a share, on sales of $927 million for the first quarter ended April 30. Wall Street on average was looking for 16 cents a share on sales of $898 million.

REI Launches Content And Entertainment Arm

REI announced the launch of Co-op Studios, the retailer’s in-house content arm. Across films, podcasts and editorial programs, the studio develops and produces content that explores the power of time spent outside, while complementing the brand’s broader commitments.

Father’s Day Spending To Hit $20.1 Billion, According To NRF

U.S. consumers are expected to spend more than $20.1 billion on gifts and other items for Father’s Day this year, a record high, according to the National Retail Federation’s (NRF) annual survey conducted by Prosper Insight & Analytics. Total spending for the holiday will surpass last year’s record figure of $17 billion.