Strategy

From Gap and Coach to Best Buy and Starbucks, retailers across the board are looking to high-growth emerging markets to expand their business and increase revenues. Not surprisingly, China is a prime -- if not the No. 1 -- target of many retailers.

COLUMBUS, Ohio — Despite a comps dip during its second quarter, Big Lots performance was enough for the company to raise its fiscal 2011 guidance.

Big Lots reported net income of $35.7 million, or 50 cents per diluted share, for the second quarter of fiscal 2011 ended July 30.  This compares with net income of $38.9 million, or 48 cents per diluted share, for the second quarter of fiscal 2010. 

Picture this setting. The neatly manicured grounds of the spectacular Broadmoor resort are underfoot, the Rocky Mountains are in the background, and the sky above Colorado Springs is a crisp blue. Hundreds of dark-suited senior executives are milling about an early evening reception, sipping wine as white-gloved waiters offer curious looking hors d'oeuvres.

CUPERTINO, California — Apple announced that it has named Tim Cook, previously COO, as the company's new CEO, replacing Steve Jobs who has resigned from the position. Jobs has been elected chairman of the board and Cook will join the board, effective immediately.

MEMPHIS, Tenn. — Southeastern discount banner Fred's on Thursday morning reported that the consumer continues to be challenged by economic pressures. "In key markets we continue to see swings in sales [tied to] the payroll cycle," Bruce Efird, Fred's president and CEO, told analysts during a conference call this morning. Efird also reported an increase in government assistance utilization.

NEW YORK — A recent consumer survey released by AlixPartners found that a little more than half of all consumers (51%) identify a traditional grocery retailer as their point of destination when making a grocery trip. Such mass merchants as Walmart are capturing 30% of those trips, and the continued emphasis on fresh in the drug channel has drawn 5% of those trips into the mainstream pharmacy.

Dollar stores, another channel that has in the past few years made a significant push into food items, also draws 5% of all grocery trips.

Former Walmart chief information officer Linda Dillman is among a group of 10 executives who will be recognized for outstanding achievement in driving diversity and inclusion in the consumer product and retail industry when the Network of Executive Women gathers next month in Orlando for its annual meeting.

The world is full of powerful women, but a recent listing of the 100 most powerful by Forbes indicates that, with a few exceptions, they don’t think many are involved in the retail and consumer packaged goods world.

Seeing as how the 10th anniversary of the Sept. 11 terrorist attacks falls on the final day of the Walmart NW Arkansas Championship presented by P&G, tournament officials faced the delicate challenge of developing a respectful way to observe the event.

What they came up with was the following: 

Suppliers to Walmart will have plenty of opportunities to hear from Walmart EVP merchandising Duncan Mac Naughton in the months ahead.

First up is Walmart’s annual meeting for financial analysts held each fall and slated for Oct. 11 to 12 this year. An agenda isn’t yet available, but Mac Naughton presumably will be a featured participant, or at least he should be considering Walmart’s ongoing efforts to revive U.S. sales and recent moves Mac Naughton has made to the structure and leadership of the merchandising organization.