Budgets/Spending/Market Size

Doubling sales in any category within a four year time span would be an audacious goal for any retailer, but that was the objective Walmart set for itself in the beer category last fall, according to Bloomberg.

Gap Inc. continues to enjoy momentum at its namesake Gap stores and Old Navy units which pushed total company results up 8% to nearly $3.9 billion.

Results were strongest at Gap and Old Navy stores where comps increase 6% while Banana Republic comps declined 1%.

“We are pleased with our second quarter performance overall, and we’re focused on continuing our momentum as we move into the second half of the year,” said Glenn Murphy, chairman and CEO of Gap Inc.

New York -- Ralph Lauren Corp. reported Wednesday that profit for the quarter ended June 29 dipped 6% to $181 million, compared with $193 million in the year-ago period.

Sales edge up 4% in the period, to $1.61 billion, but missed Wall Street’s estimated $1.65 billion in revenue. Same-store sales slipped 1%.

The fashion retailer has issued a cautious sales outlook, projecting a low-single-digit increase in current quarter revenue from last year’s $1.86 billion.

Los Angeles – Total spending on at-home entertainment in the U.S. declined 1.4% in the second quarter of this year compared to the same time period last year, according to research by Digital Entertainment Group. Consumers spent $3.94 billion on at-home entertainment in second quarter 2013, compared to $4 billion in second quarter 2012.

Franklin, Tenn. – More than $11.6 billion of retail IT spending, or 35% of the total, will come from budgets other than that of the CIO. Of that total “black ops” IT spend, $6.6 billion will come from the activities of the CMO and their purchases of hardware, software, SaaS, and services outside of the CIO budget.

Washington, D.C. -- The National Retail Federation said the retail industry added 37,000 jobs in the month of July, with increases in general merchandise, food and beverage and building and garden supply stores.

Toronto, Ontario – More than four-in-10 (44%) Canadian back-to-school shoppers want more online options. A new survey from Staples Canada, the Staples Back-to-School Annual Study, also indicates that 70% of Canadian back-to-school shoppers consider a back-to-school budget important.

The survey also uncovered a number of regional differences in back-to-school preferences, such as:

New York -- Households with school-age children (pre-kindergarten through 12th grade) plan a big cut-back in back-to-school spending. Results of the 2013 Brand Keys Back to School Report Card show that there will be a year-over-year decrease of 10% in back-to-school spending, or an average spend this year of just more than $600 per household.

However, not every retailer will experience a decline in back-to-school profits. This year, the eight retailers showing the greatest increase in consumer intent-to-shop were:

1. Amazon

Austin, Texas -- Whole Foods Market reported that its net income in the third quarter increased 21% to $142 million, better than analysts had expected. The company also sounded a bullish note about expansion.

Walter Robb, co-CEO, Whole Foods, said the company continues to gain market share and still sees the potential for 1,000 stores in the United States alone. It currently operates 355 U.S. locations.

New York -- Fast casual Burger 21 has opened franchised stores in the Atlanta suburb of Buford, Ga., and Charlotte, N.C.

The company plans to open 15 to 20 more franchised units in Atlanta plus another 10 franchised restaurants in Charlotte over the next few years.