Strategy

There were no new surprises during November regarding prices at Walmart, but then that is to be expected. The everyday low price strategy to which Walmart has a newfound adherence is boring and that’s the way the company and presumably its customers like it.

Walmart and the Walmart Foundation give away so much money it is hard to keep track of it all and this was certainly evident during the holiday season.

On Thursday, the company announced another round of grants totaling $200,000 to 10 nonprofits groups as part of its “12 Days of Giving” Facebook campaign. Those grants mark the culmination of an innovating corporate giving campaign that integrated social media and resulted in a total of $1.5 million being awarded to 145 organizations in all 50 states, Washington, D.C. and Puerto Rico.

Stein Mart released restated third-quarter results Friday that showed an upwardly revised loss that wasn’t quite as bad as originally feared.

Kate Berg has been name president of Collective Bias, the rapidly growing social shopper marketing firm based in Bentonville, Ark. Berg will focus on organizational development at the firm which has grown to more than 30 employees in the roughly two years since it was founded and split her time between Bentonville and New York where an expanding roster of clients include Meredith Corp. and the Duane Reade drug chain.

Jacksonville, Fla. -- Stein Mart Inc. reported Friday that its third-quarter loss widened after correcting for a computer problem that caused an error in prior results.

The retailer posted a revised loss of $3.1 million for the quarter, instead of the $1.8 million loss previously reported. That loss compares to a profit of $4.3 million in the year-ago quarter.
 

New York City -- Chain Store Age columnist Jeff Green, in his latest piece “On the Upswing?”, observes that there are three broad categories of retail driving the current expansion buzz.

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San Francisco -- Christopher & Banks Corp. reported Thursday a loss of $28.2 million for the quarter ended Nov. 26, widened from a loss of $9.2 million in the year-ago period and reflecting a one-time charge.

Sales rose to $123.9 million, from $120.9 million a year ago, matching Wall Street expectations. Same-store sales for the quarter were flat. 

Washington, D.C. -- A report released Friday by the Commerce Department showed that U.S. consumer spending edged up 0.1% in November, less than forecast and reflecting an economy that continues to struggle.

Incomes also grew 0.1% in November, the weakest in three months, after a 0.4% rise in October. The median estimate for spending in a Bloomberg News survey of economists called for a 0.3% advance.

I’m feeling pretty good about our industry after attending the ICSC New York Deal Making Conference earlier this month. In a marked change from recent years, the mood at the annual convention was noticeably upbeat. And, surprisingly — in a good way — there was an obvious buzz in the air about expansion plans. There are some intriguing new retail concepts in the pipeline and the recent influx of international brands making their brick-and-mortar entry into the U.S. market gives us what I think are genuine reasons for optimism in the New Year. 

RICHMOND, Va. — Amazon.com announced that it plans to open two fulfillment centers in Virginia, investing a total of $135 million. The company said it will invest $85 million and create more than 1,000 jobs in Chesterfield County, and invest $50 million in Dinwiddie County, creating more than 350 jobs.