Budgets/Spending/Market Size

CHICAGO ─ Faced with rising food costs, U.S. consumers are turning to the cost savings tactics they’ve mastered over the past few years, according to The NPD Group.

The 2011 edition of Interbrand’s Best Retail Brands report again lists Target in the second position with a value of $23.3 billion in between number-one-ranked Walmart at $142 billion and third-ranked Home Depot at $20.3 billion.

Oak Brook, Ill. -- McDonald's Corp. and its franchisees plans to hire as many as 50,000 new U.S. employees -- ranging from restaurant crew to managers -- on April 19. The one-day event will seek to bring in and hire a combination of both full- and part-time positions in close to 14,000 U.S. restaurants nationwide, increasing the company's U.S. work force by 7.7% to 700,000, but such hiring is typical in the lead up to the busy summer months.

When Walmart executives speak about prices, inflation or the nation’s economic condition their comments create quite a stir, and that’s what we saw again this week when Bill Simon spoke to USA Today.

New York City -- Saks said Tuesday that lenders have agreed to amend a $500 million revolving credit agreement that now extends to 2016. The agreement also favorably revises other terms.

As a result, the department store retailer estimates its 2011 interest expenses will total about $50 million, down from its previous estimate of $51 million to $53 million.

The debt previously was scheduled to mature Nov. 23, 2013. Now, it matures March 29, 2016.

Bermuda -- Signet Jewelers Ltd., whose brands include Kay Jewelers and Jared The Galleria of Jewelry, reported Wednesday that net income for the quarter ended Jan. 29 decreased 9% to $105.4 million, from $115.5 million a year earlier.

Revenue for the period rose 6% to $1.27 billion from $1.2 billion, meeting Wall Street expectations. Same-store sales increased 8.1%.

Matthews, N.C. -- Family Dollar Stores reported Wednesday that net income for the quarter ended Feb. 26 rose 10% to $123.2 million, compared with $112.2 million a year earlier. Results were helped in part by improved traffic and higher transaction value.

Revenue increased 8% to $2.26 billion, from $2.09 billion. Same-store sales rose 5.1%.

Earlier in March, Family Dollar turned down an approximately $7 billion buyout offer from minority shareholder Nelson Peltz's Trian Fund.

Bentonville, Ark. -- Wal-Mart Stores’ Scott Price, CEO for Asia, said Wednesday that the retailer makes $16 billion in annual sales in Japan, China and India.

In a report broadcast on Wal-Mart’s website and covered by Bloomberg, Price said that operations in Japan have $8 billion annual sales from 414 stores with 36,000 workers.

Annual revenue is $7.5 billion in China, generated by 329 stores, and sales in India are less than $1 billion a year, according to Price.