Strategy

McKinney, Texas -- Blockbuster announced that it has assumed contracts with property owners nationwide and will maintain operations of more than 1,500 U.S. Blockbuster stores that would have closed under liquidation, as approved in a New York bankruptcy court this week. The chain also will retain more than 15,000 store employees.

The current upheaval we’re experiencing with booksellers reminds me of those nature documentaries where the host talks about what happens when a giant tree in the forest comes crashing down, leaving a gaping hole in the forest canopy. In those instances, dozens of smaller trees and plants spring up to take advantage of that gap and soak up the new light.

WASHINGTON — NRF reported that total back-to-school spending on grades K to 12 is expected to reach $22.8 billion. According to NRF’s 2011 Back-to-School survey conducted by BIGresearch, families with children in grades K to 12 will spend an average of $603.63 on apparel, school supplies and electronics, within a few dollars of last year’s $606.40 average. 

SAN JOSE, Calif. — eBay reported that revenue for the second quarter ended June 30, increased 25% to $2.8 billion, compared with the same period of 2010. The company recorded second quarter net income on a GAAP basis of $283.4 million, or 22 cents per diluted share, and non-GAAP net income of $630.9 million, or 48 cents per diluted share.

The company reported that its PayPal business' net total payment volume grew 34% to $28.7 billion in the second quarter of 2011 compared to the same period of last year.

BRENTWOOD, Tenn. — Tractor Supply Company continues to operate in a fertile market segment that enabled the nation’s largest farm and ranch store chain to harvest record profits during the second quarter.

MATTHEWS, N.C. — Family Dollar Stores announced that it has named Christopher Nielsen to the position of VP loss prevention. Nielsen will report to Bryan Venberg, SVP human resources.

SCHAUMBURG, Ill. — Walmart has returned to the consumer packaged goods industry's information sharing model through a new cooperation agreement with Nielsen.

NAPERVILLE, Ill. — OfficeMax announced that Steve Parsons has been appointed EVP and chief human resources officer, effective July 25.  In this position, Parsons will report to Ravi Saligram, president and CEO of OfficeMax, and will be responsible for all aspects of global human resources for the company, including talent management, compensation and benefits, training, leadership development, recruitment, diversity, and internal and corporate communications.

PLEASANTON, Calif. — Safeway Inc. reported net income of $145.8 million, or 41 cents per diluted share, for the second quarter of 2011 compared with $141.3 million, or 37 cents per diluted share for the second quarter of 2010.

The company reported that total sales increased 7.1% to $10.2 billion in the second quarter of 2011 from $9.5 billion in the second quarter of 2010. Identical-store sales, excluding fuel saw a 0.5% increase.

NEW YORK — Macy’s announced that its Karl Lagerfeld capsule collection will arrive in about 235 Macy's stores and on Macys.com beginning Aug. 31.

“To me Macy’s is the perfect department store in the United States where everybody can find what they're looking for without ruining their budget,” said Karl Lagerfeld. “That’s why I am happy to make this limited collection just for Macy’s.”