Discount Store

Walmart took prices up in April, and the average gap with competitors narrowed to 16.8% from 17.8% the prior month, according to the most recent monthly survey of prices conducted in the Dallas and Chicago markets by Credit Suisse. The firm also found that Walmart has been among the most aggressive in terms of passing through inflation to customers. During the past three months, Walmart’s prices on the 60 food, health and beauty and household items the firm tracks each month increased 2% during the past three months and over the past year prices have risen by 3.6%.

CITY OF COMMERCE, Calif. — 99 Cents Only Stores announced that retail sales for the fourth quarter of fiscal 2011, a 14-week period, were $366.4 million, compared with $328.6 million for the fourth quarter of fiscal 2010, a 13-week period. The additional week included in the fourth quarter of fiscal 2011 contributed an additional $26.9 million of retail sales, the company reported. Same-store sales, calculated on a comparable 13-week period, increased 0.5%

MINNEAPOLIS — Target has unveiled the first wave of the Zellers sites it will be taking over in Canada, representing 105 locations in all 10 Canadian provinces. The vast majority of the sites will become Target stores after securing the necessary construction approval for extensive renovation. The stores will open beginning in 2013.

The warehouse club channel remains one of the hottest segments in retail as evidenced by the solid third-quarter results Costco reported earlier this week on the heels of the equally solid first-quarter results Sam’s Club reported last week.

Although the company’s operate on different fiscal years, the quarterly periods are comparable with only one week separating Costco’s May 8 third-quarter end date from Sam’s Club’s April 30 end date.

COLUMBUS, Ohio — For the first time, Big Lots is expanding its retail operations outside of the United States with the announcement that it has agreed to purchase all of the outstanding stock of Liquidation World Inc., an Ontario based retailer which operates 92 closeout stores in Canada. 

WASHINGTON — Target announced that it will provide new libraries for 42 schools in the United States as part of the 2011 Target School Library Makeover program.

With the dust settled from Target’s first-quarter earnings announcement last week, it has become quite apparent the company would not be faring well were it not for the beneficial effects of the PFresh remodeling program and last fall’s introduction of 5% REDcard Rewards.

Last week’s issue of Target News Now contained some inaccurate information relating to the level of promotional activity during April at some of the nation’s leading retailers. The correct information along with a link to a revised chart provided by research company Market Track is below.