Data & Analytics

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. 

Picture this setting. The neatly manicured grounds of the spectacular Broadmoor resort are underfoot, the Rocky Mountains are in the background, and the sky above Colorado Springs is a crisp blue. Hundreds of dark-suited senior executives are milling about an early evening reception, sipping wine as white-gloved waiters offer curious looking hors d'oeuvres.

CUPERTINO, California — Apple announced that it has named Tim Cook, previously COO, as the company's new CEO, replacing Steve Jobs who has resigned from the position. Jobs has been elected chairman of the board and Cook will join the board, effective immediately.

MEMPHIS, Tenn. — Southeastern discount banner Fred's on Thursday morning reported that the consumer continues to be challenged by economic pressures. "In key markets we continue to see swings in sales [tied to] the payroll cycle," Bruce Efird, Fred's president and CEO, told analysts during a conference call this morning. Efird also reported an increase in government assistance utilization.

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.

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.

Woonsocket, R.I. -- CVS/pharmacy’s distribution center in Chemung County, N.Y., has been awarded LEED Gold certification from the United States Building Council. It it the chain’s first LEED-certified distribution center.

Phoenix -- Fresh & Easy Neighborhood Market said Thursday it has turned on 11 rooftop solar installations in Phoenix and Los Angeles. The panels, installed by REC Solar, will provide 536 kW of power and supply 20% of each store’s energy needs.

Amsterdam -- Royal Ahold NV reported Thursday that net income in the second quarter declined to $287 million from $290 million a year earlier, dragged down by performance of its U.S.-based Stop & Shop grocery stores.

The company cited increased competition in the U.S. for its lackluster quarter. Ahold said it will seek to limit price increases and cut costs in the United States, particularly at its Giant-Carlisle chain, which competes with Wal-Mart Stores.

Second-quarter sales declined 3.5% to $9.9 billion.

 

By Howard Paster, [email protected]