Exclusive Report: 2011 NRF BIG Show Wrap-Up
New York City — The National Retail Federation’s 100th Annual Convention & Expo — The BIG Show — at the Jacob Javits Center in New York City featured more than 500 exhibiting companies and presentations from a stellar line-up of top-tier retailers, analysts and industry consultants.
This exclusive report, the 2011 NRF BIG Show Wrap-Up, from Chain Store Age, details some of the show’s highlights.
Walmart investing $500 million in Canada
New York City — Walmart Canada, a unit of Wal-Mart Stores, will invest approximately $500 million on expansion its upcoming fiscal year, which runs from Feb. 1, 2011 to Jan. 31, 2012. The discounter plans to open new supercenters, as well as expand, relocate and remodel existing stores.
Although Walmart Canada did not disclose exact locations, it did reveal that it will enter two new new markets this year: the provinces of Quebec and Manitoba.
The expansion will bring the chain’s presence in Canada to 333 locations (164 supercenters, 169 discount stores) by the end of January 2012.
Walmart Canada’s announced expansion comes on the heels of Target Corp.’s announcement that it will enter the canadian market via its purchase of Zellers.
Top companies secure spot on leadership survey
For the second consecutive year Walmart appears on an annual ranking of the Best Companies for Leadership compiled by the consulting firm Hay Group. In the 2010 version of the survey, Walmart ranked ninth, compared with the prior year when it was ranked fifth. The survey was first conducted in 2005.
Companies that ranked ahead of Walmart included, General Electric, Procter & Gamble, Intel, Siemens, Banco Santander, Coca-Cola, McDonald’s and Accenture.
According to the management consulting group, all of the companies in the top 20 reported that everyone at every level of the organization has the opportunity to develop and practice the capabilities needed to lead others, compared with less than 70% of all other companies in the study. In addition, 90% of the top 20 companies report that people are expected to lead regardless of whether they have a formal position of authority, compared to only 59% of other companies.
“The Top 20 Best Companies for Leadership are at the forefront of a significant shift away from hierarchical organizational operating models,” said Rick Lash, a director in the firm’s leadership and talent practice. “Leadership in the twenty-first century is about leading at all levels, not restricting it to title. As organizations become flatter, the best leaders are learning they must check their egos at the door and become increasingly sensitive to diversity, generational and geographical issues.”
According to Hay Group, the survey included responses from 3,769 individuals and 1,827 organizations worldwide. Results were based on an organization’s response to an online questionnaire and peer nominations. Respondents that completed the survey were from 96 difference countries with 26.6% from North America, 23.4% from Europe, 3.6% from the Middle East, 19.7% from Asia, 23.7% from South America, 2.6% from the Pacific and 0.5% from Africa.