Strategy

Thanks to the Internet, a lot of what passes for news these days is a report based on a report based on a report with few if any filters in place to verify the accuracy of information. With that qualification in mind, Bloomberg this week reported that Walmart’s market share in China declined to 7.5% in the fourth quarter of 2010 compared to 8.2% in the second quarter. The news agency said its report was based on a report in the English language Shanghai Daily newspaper whose report was based on a report from a market research company identified as CTR.

Cincinnati -- Kroger Co. said Thursday that its fourth-quarter net income jumped 9.2% while sales rose 7.4%. It also announced that its board authorized a $1 billion stock repurchase plan.

Net income was $278.8 million, compared with $255.4 million in the year-ago period. Quarterly revenue rose to $19.9 billion, with same-store sales up 3.8%.

Kroger offered a cautious outlook for the current year, saying rising fuel costs are likely to take a bite out of household budgets.

Costco and BJ’s were out with quarterly results this week following the release of Sam’s Club results last week that included flat operating profits and a 2.7% same-store sales increase excluding gas. Those results, characterized by Sam’s Club president and CEO Brian Cornell as strong and very pleasing, are consistent with results out this week from club competitors. Both Costco and BJ’s reported quarterly results that were in-line with or beat analysts’ expectations.

Skokie, Ill. -- Westfield Old Orchard, an outdoor destination located in Skokie (Chicago), Ill., announced that The Body Shop will rejoin the center in spring 2011 with a 765-sq.-ft. store near Lord & Taylor. Galt Toys will open a 3,400-sq.-ft. store, also slated for a spring 2011 opening, as is Vera Bradley -- with a 1,650-sq.-ft. boutique.

DUBAI -- Tiffany and Co. announced it has named Frederic Cumenal as EVP effective March 10. Cumenal will be responsible for the company's businesses in Asia, Japan, Europe and emerging markets, and will report to chairman and CEO Michael Kowalski.

Cumenal joins Tiffany from the LVMH Group where most recently he was president and CEO of Moet and Chandon, S.A.

Albany, N.Y. -- Trans World Entertainment said that net income for the fourth quarter rose to $12.4 million $11.4 million as it continued to cut costs by closing more of its f.y.e. (For Your Entertainment) stores.

Total sales for the quarter fell 22%, to $231.2 million. Same-store sales fell 6%.

For fiscal 2010, Trans World posted its fourth consecutive annual net loss. The net loss for the year was $31 million, compared with a net loss of $42.4 million in fiscal 2009.

GNC branded nutritional products are now being offered in 400 Sam’s Clubs in keeping with the club retailer’s efforts to gain market share in the health and wellness area. The GNC brand allows Sam’s to offer a differentiated product assortment and shopping experience from club competitors, as plans call for GNC to rotate pallets of its top-selling private label items throughout the year. The first two items include a two-pound container of GNC Pro Performance AMP Amplified 100% Whey Protein for $18.98 and a 1.7 pound bottle of GNC Total Lean Lean Shake for $22.98.

FORT WORTH, Texas -- Pier 1 Imports reported significant gains in fourth-quarter and full-year comps due to increases in average ticket, conversion and traffic. 

The company reported that comparable-store sales for the fourth quarter ended Feb. 26 increased 8.9% compared with last year’s comparable-store sales increase of 6.5% for the fourth quarter ended Feb. 27, 2010. Total sales for the quarter improved to $427 million compared with  $396 million in the year-ago quarter.