Walmart

Cape Town, South Africa -- A Tuesday report by Bloomberg said that Shoprite Holdings Ltd. has announced plans to speed up its store expansion this year as it faces increased competition from Wal-Mart Stores.

South Africa’s largest retailer by market value, Shoprite said it will add 106 stores by June 2012. That compares with 96 openings in the same period last year. The company currently operates 1,246 stores.

New York City -- The women who were part of the large class action lawsuit against Wal-Mart Stores have been given until Oct. 28 to file individual lawsuits against the company, a U.S. judge ruled, Reuters reported.

The women, who claim the retailer denied them pay raises and promotions because of gender bias, are regrouping after the U.S. Supreme Court dismantled a class of up to 1.5 million current and former Wal-Mart workers in June.

The trend of fewer people shopping Walmart stores less often has hurt the company’s efforts to revitalize U.S. sales growth, and now it the appears trip consolidation trend is playing out internationally as well.

Walmart International sales increased 7.1% to $27.8 billion in the second quarter and all countries produced sales growth, except Japan, when measured on a constant currency basis. Profitability didn’t improve as quickly. Operating profit was up 0.5% to nearly $1.3 billion, but if some one time charges are excluded the growth rate picks up to 5.6%.

Walmart beat analysts’ second quarter earnings estimates by a penny when it reported earnings per share of $1.09. The company also touted the fact that it was raising its full year profit forecast, although it did so by the one cent of additional profit it had already banked during the second quarter. Walmart said it now expects full year profits to total between $4.41 and $4.51 versus prior guidance of $4.35 to $4.50.

Look for a big number out of Walmart come early October when it discloses 2012 expansion plans for smaller formats in conjunction with the company’s fall analysts’ meeting. Here’s how you can tell. Reading between the lines on the company’s second quarter earnings call transcript Walmart U.S. president and CEO Bill Simon touted the fact that the return on investment for Neighborhood Market stores is now the same as Walmart supercenters. Recall, in the past the rationale for the slow expansion pace of the 40,000-sq.-ft.

Blend equal parts easy prior year comparisons, the recent easing of gas prices with the pass through of product inflation , and Walmart could be looking at the recipe for same-store sales growth. If not in the third quarter, then certainly by the fourth quarter, which is the line in the sand the company has drawn for its U.S. business.

MINNEAPOLIS — Target reported second quarter earnings per share of $1.03 that beat analysts’ estimates by a nickel, and the company elevated its full year profit forecast amid ongoing success of key initiatives.

Retail sales increased 5.1% to $15.9 billion from $15.1 billion thanks to a 3.9% same-store sales increase and the addition of several new stores. Operating profit for the retail business increased at a slower rate, rising 4.6% to $1.147 billion from $1.096 billion.

BENTONVILLE, Ark. — Despite the absence of top line growth at Walmart’s U.S. stores division, second quarter earnings grew 12.4% to $1.09 and came in a penny ahead of analysts’ estimates, which was enough for the company to narrow and increase the range of its full year profit forecast.