Big Lots 2010 Annual Report Download - page 7

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For our
shareholders
, it means continued execution of our strategies. We believe our business has a niche in the
marketplace and a reason to exist, our strategies are working, and the opportunities to improve our financial performance
are real and will depend largely on our own internal execution.
For our
customers
, it’s getting the best products for the best possible price and providing a pleasant shopping
experience. We are investing in our Buzz Club Rewards
®
program to better understand our customer, and we are focused
on improving the shopping experience and customer service aspects of our business.
For our
associates
, it’s having plenty of current and future opportunities. Over the last 5 years, our Merchant In
Training (MIT) program has enabled us to recruit and develop the next generation of merchant talent. Today approximately
80% of our promotions in the merchandising ranks come from talent developed internally.
Store talent for the future is also extremely critical, which is why in 2010 we launched
1,000 Ways to Succeed. This new store management training program pairs our best
and brightest store managers with new managers to help them learn the ropes. Having
the next generation of new store management developed internally and ready to lead will
be crucial as our store growth plans begin to escalate to 90 to 100 new stores on an
annual basis.
We also bring significant value to the
communities
we serve. Where we trade,
we serve through initiatives such as our Lots2Give program, our national 16-year
partnership with Toys for Tots, our involvement with Feeding America, and dozens
of other programs supporting education, the arts, and social services. We also believe
in making a difference here in our hometown of Columbus, Ohio, as evidenced by
our long-standing relationship with the Furniture Bank of Central Ohio. We are deeply
committed to efforts that strengthen families and communities. Our legacy of community
giving is also a differentiating factor in our ability to attract and retain top talent.
Our clear vision, balanced strategy, and thoughtful execution will help us continue to deliver
the extreme value that is the hallmark of our brand. Thank you for your continued support.
Steven S. Fishman
Chairman, CEO and President
It's all about
great quality
and unmatched
value for our
customers.