Strategy

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. 

Around the world, resurgent retail is inspiring the industry with creativity and challenging traditional ways of doing business. The store is evolving into a fluid idea that fits the mobile, global customer in search of new experiences to share.

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San Francisco -- Guess reported Wednesday that profit for the second quarter dipped 9.1% on a hefty settlement charge.

The retailer said that net income fell to $60.7 million from $66.8 million, as it was hit by a $19.5 million settlement charge.

Revenue for the quarter rose 17% to $677.2 million from $577.1 million, beating analysts’ estimates.

 

Columbus, Ohio -- Express reported Wednesday that profit for the second quarter fell 43% to $12.6 million, compared with $22.1 million in the year-ago period. Results still topped Wall Street expectations, and the company has upped it s forecast for the third quarter and full year.

Revenue rose nearly 10% to $446 million from $407.3 million, beating analysts' average forecast for $439.6 million in revenue. Same-store sales rose 6%.

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: 

New York City -- Walgreens has renewed its lease on the ground floor of the Empire State Building, and exchanged 10,000 sq. ft. of retail space on the concourse level to 10,000 sq. ft. on the second floor near the observatory exit elevators, according to a report published by REBusiness Online Thursday.

"The all-glass second-floor store is slated for a first quarter 2012 completion," the report stated. Walgreens’ lease in the Empire State Building is for a 15-year term and totals 18,818 sq. ft.

 

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.

New York City -- Italian handbag maker Piero Guidi will open its first retail location in the United States, in New York City’s Soho district. The Soho store will be the company's fourth standalone store outside of Italy, following openings in China, Japan and Hong Kong.