Citing possible opportunities in Asia and other markets in North America, Lord & Taylor chairman Richard Baker says the retailer is joining the ranks of U.S. stores looking to expand internationally. The chain also plans to beef up existing stores with better merchandising and renovations. It will, for example, convert 100,000 or more square feet in its Fifth Avenue flagship into a home furnishings department. Baker, also president/CEO of NRDC Equity Partners, which owns Lord & Taylor and Fortunoff, says he recently returned from trips to Canada and Mexico. There are "several groups" interested in bringing Lord & Taylor …

Wal-Mart's emphasis on low prices is keeping lower-income customers loyal and attracting more affluent shoppers who usually spend elsewhere, according to Eduardo Castro-Wright, CEO of the retailer's U.S. division. He hopes to keep those customers once the economy turns around by capturing their imagination with the "store experience." Wal-Mart has worked to shorten checkout times, which Castro-Wright says have improved by a third, and make stores more attractive and cleaner. Wal-Mart is changing displays to make them brighter and draw even more emphasis to low prices that are shown on ever-larger placards. Castro-Wright says the company surveys between …

The Federal Trade Commission will step up its oversight of marketing of sub-prime mortgages and related transactions, according to Lydia B. Parnes, the agency's director of the Bureau of Consumer Protection. She says staff is being shifted to help the agency devote more attention to the financial area. "For the past several months we have been questioning ourselves on whether we could have done more," Parnes testified before a panel of the Senate Commerce Committee on Tuesday. The FTC doesn't regulate federally chartered banks that make mortgage loans, but it does regulate advertising and marketing by mortgage brokers and …

Kraft's 2008 new products line marks the latest round in its mission to move from a manufacturing-focused entity toward one that creates products based on consumer needs. Until recently, Kraft's growth strategy largely revolved around extensions like Jell-O cheesecake snacks. But in presenting some of the 80 new Kraft food products, Bob Becker, SVP/new products for Kraft Foods North America, doesn't mention the word "extension" once. Among the results is Oscar Mayer Beef Franks with no artificial flavors, colors or fillers and now made with more premium meat cuts. Kraft also is migrating the seal-tight packaging with snap-top lids …

Starbucks is adding a line of smoothie-like drinks made with fresh fruit and whey powder throughout its U.S. locations this summer. The flavors developed include chocolate banana and orange mango. The company says they're the first stage of a broader push into healthier drink and food offerings, as well as being a differentiator that cannot be purchased at other fast-food establishments. The company also will begin selling a more-indulgent sweet, icy beverage developed with an unnamed Italian company. That drink will be sold only in select markets, including Southern California. Part of the strategy is to price the drink affordably …