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  • Big Lots raises FY guidance on 2Q performance

    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. 

  • Massmart to increase store count by 8.6%

    Johannesburg -- Massmart Holdings Ltd., the South African retailer controlled by Wal-Mart Stores, announced Thursday it will up its store counts in fiscal 2012 by 8.6% to 340 stores. The company will open 27 new stores during the period, mostly in South Africa and two in Nigeria.CEO Grant Pattison said the accelerated pace is to keep the company in front of its competitors.

    Also on Thursday, Massmart reported an 11.6% rise in total sales for the year ended June 26 to $7.29 billion, and upped its forecast for the remainder of 2011.

  • Food trips to nontraditional stores — mass, dollar, drug — on rise

    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.

  • Express Q2 profit falls 43%, but beats Street

    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%.

  • Survey: Food trips to nontraditional stores on rise

    New York City -- A survey released Thursday by consumer research firm AlixPartners found that 51% of consumers visit traditional supermarkets for their grocery shopping, while 30% shop mass merchants such as Walmart for groceries. Drug stores pull 5% of grocery shoppers, as do dollar stores.

  • Study: 'Connected' consumers shop, recommend favorite retailers more often

    SAN MATEO, Calif. — New data released Friday by Motista suggests that retailers should look beyond the traditional set of holiday emotions, such as family and giving, to understand what’s really motivating consumers to spend more. The data also revealed different ways in which men and women interact and connect with retailers, which may be useful as retailers plan their holiday marketing campaigns.

  • Books-A-Million swings to loss

    Birmingham, Ala. -- Books-A-Million on Tuesday reported a second-quarter loss of $2.9 million, compared with a net income of $1.9 million in the year-ago period. The chain faulted lower sales as consumers move away from traditional books and pressure from the liquidation sales Borders Group is conducting.

    Revenue fell 11.4% to $106.4 million from $120 million last year. Same-store sales fell 12.9%.

  • NRF Survey; Department stores and apparel stores attract last-minute back-to-school shoppers

    Washington, D.C. -- A survey released Tuesday by the National Retail Federation and conducted by BIGresearch showed that department stores, clothing stores and websites are expected to attract most of the last-minute back-to-school purchases.

    According to NRF’s 2011 Back-to-School survey, the average family has completed 43% of shopping for K-12 students, similar to last year’s 43.2%. College students and their parents have completed 44.3% f their shopping, up slightly from last year’s 43.1%.

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