JD.Com Inc

NASDAQ:JDUnited States

Hibbett Inc. (HIBB) reported better-than-expected profit before market open Wednesday, although sales came in below analysts' estimate. The sporting goods retailer posted net income of $32.5 million, or $2.67 a share, for the quarter, compared with $35.9 million, or $2.74 a share, in the same period last year. Analysts surveyed by FactSet were looking for earnings of $2.58 a share. Sales fell to $447.2 million from $455.5 million in the year-ago quarter. Analysts surveyed by FactSet were looking for sales of $452.9 million. Hibbett shares are down 0.6% in premarket trades. "Our sales and diluted earnings per share for the first quarter of Fiscal 2025 were in line with our expectations in a very challenging athletic footwear and apparel retail market," said Hibbett Chief Executive Officer Mike Longo in prepared remarks. Hibbett's same-store sales declined 5.8%. Analysts surveyed by FactSet were looking for a 4.3% decline. The Alabama headquartered sportswear seller did not update its previously-issued financial guidance, citing its pending transaction with JD Sports Fashion. In April JD Sports (JD) announced a deal to buy Hibbett for $1.1 billion. Hibbett shares are up 19.8% in 2024, outpacing the S&P 500 index's gain of 10.9%.

0611 GMT - More Chinese companies with large dollar debt maturities in the next two years, relatively small offshore dollar cash and cash flow, and overseas expansion plans could join the recent convertible bond frenzy, CreditSights analysts Zerlina Zeng and Stephanie Sim say in a research note. Chinese tech companies Alibaba, JD.com and Lenovo have issued $9 billion of convertible bonds in total over the past two weeks. They chose convertible bonds because most of their cash is parked onshore and cannot be easily remitted offshore, and in Lenovo's case due to its overseas business expansion plans, they say. Convertible bonds are also cheaper than straight dollar bonds or dollar syndicated loans in terms of interest servicing costs, they add. (sherry.qin@wsj.com)

05:29 AM EDT, 05/31/2024 (MT Newswires) -- ATRenew (RERE) said Friday it renewed its second-hand business cooperation agreement with JD.com (JD) for the period June 1, 2024, to Dec. 31, 2027. The cooperation targets to provide high quality and compe...