Strategy

A couple of promotional pieces from Walmart hit the marketplace in recent weeks underscoring that Walmart may be nearing the completion of its Project Impact course correction strategy.

The week of Sept. 18 a four-page insert dropped announcing that “fabrics are back” and that new and expanded product assortment are available in 2,000 stores. This past weekend another promotion piece hit the market focused on the hunting category with a similar message around new and expanded assortments.

Cupertino, Calif. -- Apple announced Wednesday that its co-founder Steve Jobs has died at age 56. Jobs suffered from a rare form of pancreatic cancer, and stepped down from his CEO post in August.

Apple released a brief statement, saying "We are deeply saddened to announce that Steve Jobs passed away today. Steve's brilliance, passion and energy were the source of countless innovations that enrich and improve all of our lives. The world is immeasurably better because of Steve."

WASHINGTON — A report released Thursday by the National Retail Federation predicted an average holiday shopping season. According to the NRF forecast, holiday retail sales for 2011 are expected to increase 2.8% to $465.6 billion. While that growth is far lower than the 5.2% increase retailers experienced last year, it is slightly higher than the 10-year average holiday sales increase of 2.6%, according to NRF.

Washington, D.C. -- A report released Thursday by the National Retail Federation predicted an average holiday shopping season. According to the NRF forecast, holiday retail sales for 2011 are expected to increase 2.8% to $465.6 billion. While that growth is far lower than the 5.2% increase retailers experienced last year, it is slightly higher than the 10-year average holiday sales increase of 2.6%, according to NRF.

CUPERTINO, California — Steve Jobs, the man behind one of the most influential technology companies, passed away Wednesday.

"We are deeply saddened to announce that Steve Jobs passed away [Wednesday]," Apple's board of directors announced in a statement. "Steve’s brilliance, passion and energy were the source of countless innovations that enrich and improve all of our lives. The world is immeasurably better because of Steve."

City of Industry, Calif. -- Hot Topic said Wednesday that Mark Mizicko has joined the company as its senior VP planning and allocation.

Mizicko will lead the merchandise planning and allocation teams for both the Hot Topic and Torrid brands. He most recently served as VP marketing and logistics for Gymboree.
 

Minneapolis -- Christopher & Banks Corp. reported Thursday a net loss of $13 million for the quarter ended Aug. 27, compared with a loss of $2.5 million in the year-ago period.

Sales dropped to $96.2 million from $101.3 million, and same-store sales declined 8% during the quarter.

For the second half of fiscal 2012, the retailer said it plans to open approximately eight new stores and close approximately 17 existing stores.

Minneapolis -- Following a disappointing second quarter, Best Buy is looking to reposition itself as a tech leader with plans to hire more than 200 information technology professionals, with more than 100 new positions to be posted in the next several weeks.

Best Buy said Thursday it is looking to recruit skilled professionals from across the IT landscape, including e-commerce, business analytics, application development, engineering and project management.