Content about Economics

April 15, 2014

Safeway on Monday completed the distribution to its stockholders of 37.8 million shares of Class B common stock of Blackhawk Networks Holdings owned by Safeway.

PLEASANTON, Calif. — Safeway on Monday completed the distribution to its stockholders of 37.8 million shares of Class B common stock of Blackhawk Networks Holdings owned by Safeway. After the completion of the distribution, Safeway no longer owns any shares of Class B common stock of Blackhawk.

April 11, 2014

Safeway on Thursday announced the receipt of a request for additional information and documents from the Federal Trade Commission in connection with the FTC's review of the Safeway/Albertson's merger.

PLEASANTON, Calif. — Safeway on Thursday announced the receipt of a request for additional information and documents from the Federal Trade Commission in connection with the FTC's review of the Safeway/Albertson's merger. 

The second request extends the waiting period imposed by the Hart−Scott−Rodino Antitrust Improvements Act of 1976 until 30 days after Safeway and Albertsons have substantially complied with the second request, unless that period is extended voluntarily by the parties or terminated sooner by the FTC. 

 

April 9, 2014

Safeway on Tuesday announced the final distribution ratio for the previously announced special stock dividend to its stockholders of all of the shares of Class B common stock of Blackhawk Network Holdings held by Safeway.

PLEASANTON, Calif. — Safeway on Tuesday announced the final distribution ratio for the previously announced special stock dividend to its stockholders of all of the shares of Class B common stock of Blackhawk Network Holdings held by Safeway. 

Safeway stockholders will receive 0.164291 of a share of Blackhawk Class B common stock for every share of Safeway common stock held as of the close of business on April 3, 2014.

April 4, 2014

IMS Health Holdings on Thursday announced the pricing of its initial public offering of 65 million shares of its common stock at a price to the public of $20 per share, including 52 million shares to be sold by IMS Health and 13 million shares to be sold by selling shareholders.

DANBURY, Conn. — IMS Health Holdings on Thursday announced the pricing of its initial public offering of 65 million shares of its common stock at a price to the public of $20 per share, including 52 million shares to be sold by IMS Health and 13 million shares to be sold by selling shareholders. In addition, the selling shareholders have granted the underwriters a 30-day option to purchase up to an additional 9.75 million shares of common stock at the public offering price, less underwriting discounts and commissions.  

March 25, 2014

Safeway on Monday announced that its board of directors declared a special stock dividend to its stockholders of all of the 37.8 million shares of Class B common stock of Blackhawk Network Holdings owned by Safeway, representing approximately 94.2% of the total outstanding shares of Blackhawk's Class B common stock and approximately 72% of the total number of shares of Blackhawk common stock of all classes outstanding.

PLEASANTON, Calif. — Safeway on Monday announced that its board of directors declared a special stock dividend to its stockholders of all of the 37.8 million shares of Class B common stock of Blackhawk Network Holdings owned by Safeway, representing approximately 94.2% of the total outstanding shares of Blackhawk's Class B common stock and approximately 72% of the total number of shares of Blackhawk common stock of all classes outstanding. 

March 6, 2014

At the AmerisourceBergen annual meeting of stockholders here on Thursday, company stockholders elected 10 directors to serve for a one-year term, including: Steven Collis, Douglas Conant, Richard Gochnauer, Richard Gozon, Lon Greenberg, Edward Hagenlocker, Jane Henney, Kathleen Hyle, Michael Long and Henry McGee.

NAPLES, Fla. — At the AmerisourceBergen annual meeting of stockholders here on Thursday, company stockholders elected 10 directors to serve for a one-year term, including: Steven Collis, Douglas Conant, Richard Gochnauer, Richard Gozon, Lon Greenberg, Edward Hagenlocker, Jane Henney, Kathleen Hyle, Michael Long and Henry McGee. 

During the meeting, AmerisourceBergen's president and CEO Steven Collis gave an overview of the company's activities and its results of operations from fiscal year 2013 and the first fiscal quarter of 2014.

March 5, 2014

Weis Markets on Tuesday evening posted $686.4 million in fourth-quarter sales for the 13-week period ended Dec. 28, 2013, representing a decline of 1.1% as compared to the year-ago period.

SUNBURY, Pa. — Weis Markets on Tuesday evening posted $686.4 million in fourth-quarter sales for the 13-week period ended Dec. 28, 2013, representing a decline of 1.1% as compared to the year-ago period. Comparable store sales for the same period were down 3.5%. In 2013, the company's sales totaled $2.7 billion, down 0.3% compared to 2012. Comparable store sales for the 52-week period ending Dec. 28 declined 2.6%.

February 28, 2014

Following speculation that Safeway may be considering "strategic alternatives," Safeway executives during their latest conference call confirmed just that — the supermarket retailer placed itself on the sales block. Before that conference call, analysts were already putting two and two together and coming up with two viable suitors for the Safeway footprint — private investment firm Cerberus, also known as New Albertsons, and supermarket giant Kroger, which has just closed on Harris Teeter for $2.5 billion.

Cerberus is said to be the lead bidder, but Kroger shouldn't be ruled out. But what would Cerberus or Kroger be getting if they purchased Safeway outright for almost $10 billion? In addition to 1,335 locations and a $2.7 billion book of prescription business, there would be some intangibles in the deal as well — namely Safeway's relatively advanced Just for U loyalty program and a yet-to-be launched health-and-wellness platform that's supposed to evolve Safeway over the next decade from being a food retailer into being a health solutions center.

Following speculation that Safeway may be considering "strategic alternatives," Safeway executives during their latest conference call confirmed just that — the supermarket retailer placed itself on the sales block.

February 19, 2014

Safeway welcomed President Barack Obama to its Upper Marlboro, Md., distribution center as he called for new fuel efficiency and greenhouse gas standards for medium-duty and heavy-duty trucks, the grocer announced Tuesday.

UPPER MARLBORO, Md. — Safeway welcomed President Barack Obama to its Upper Marlboro, Md., distribution center as he called for new fuel efficiency and greenhouse gas standards for medium-duty and heavy-duty trucks, the grocer announced Tuesday.

In using the Upper Marlboro distribution center for the backdrop for this announcement, President Obama recognized Safeway's commitment to operating its business in the most fuel-efficient and environmentally responsible way.

February 12, 2014

Walgreens on Wednesday presented research on how value-based insurance design programs can be optimized by targeting the sickest, least adherent and most costly patients.

DEERFIELD, Ill. — Walgreens on Wednesday presented research on how value-based insurance design programs can be optimized by targeting the sickest, least adherent and most costly patients. These findings, presented at the 2014 PBMI Drug Benefit Conference in Las Vegas, examined how the VBID model can be most successful by reaching these targeted employee sub-populations.

February 10, 2014

Walgreens on Monday announced it is extending through April 15 its program to provide medications to newly insured Americans enrolled under the Affordable Care Act, who have difficulty using their new insurance coverage because they haven't received a plan identification number yet from their insurer.

DEERFIELD, Ill. — Walgreens on Monday announced it is extending through April 15 its program to provide medications to newly insured Americans enrolled under the Affordable Care Act, who have difficulty using their new insurance coverage because they haven't received a plan identification number yet from their insurer. Walgreens will continue to assist recently enrolled individuals by providing up to one month of a traditional, brand or generic medication at no upfront cost upon verification of eligibility.

February 7, 2014

The National Retail Federation calculated that retail employment was down 21,600 jobs in January 2014, yet up 230,000 jobs year-over-year. December retail employment figures were revised up to a gain of 57,000 jobs.

WASHINGTON — The National Retail Federation calculated that retail employment was down 21,600 jobs in January 2014, yet up 230,000 jobs year-over-year. December retail employment figures were revised up to a gain of 57,000 jobs.

The Bureau of Labor Statistics Employment Situation report showed that January total nonfarm payroll employment rose by 113,000, with the unemployment rate at 6.6% and the labor force participation rate at 63%.

February 3, 2014

Roundy’s will be offering 2.9 million shares of its common stock, and certain selling stockholders will be offering 5.9 million shares of the company’s common stock.

MILWAUKEE— Roundy’s will be offering 2.9 million shares of its common stock, and certain selling stockholders will be offering 5.9 million shares of the company’s common stock. The underwriters will be granted a 30-day option to purchase up to an additional 1.3 million shares of common stock from the selling stockholders, all at the offering price less the underwriting discount.

January 31, 2014

Fifty-seven percent of consumers purchased digital gift cards in December 2013, and 43% purchased physical cards. Data from prepaid product and transaction services company InComm also shows that 80% of consumers purchased digital cards in the six days leading up to Christmas, and 20% of consumers purchased physical cards in the six days leading up to Christmas.

PORTLAND, Ore. — Fifty-seven percent of consumers purchased digital gift cards in December 2013, and 43% purchased physical cards. Data from prepaid product and transaction services company InComm also shows that 80% of consumers purchased digital cards in the six days leading up to Christmas, and 20% of consumers purchased physical cards in the six days leading up to Christmas.

January 29, 2014

Global consumer confidence held steady at an index of 94 for three consecutive quarters, ending 2013 one point higher than it started and three points higher than the same time period the previous year, according to consumer confidence findings released by Nielsen.

NEW YORK — Global consumer confidence held steady at an index of 94 for three consecutive quarters, ending 2013 one point higher than it started and three points higher than the same period the previous year, according to consumer confidence findings released Wednesday by Nielsen.

January 27, 2014

As many as 3 million people have enrolled in private health insurance as part of the Affordable Care Act. Enrollment has been up by more than one-third in recent weeks.

WASHINGTON — As many as 3 million people have enrolled in private health insurance as part of the Affordable Care Act. Enrollment has been up by more than one-third in recent weeks. 

January 24, 2014

Procter & Gamble reported on Friday that second-quarter results were in line with company expectations, and solid growth is projected for the second half of the fiscal year.

CINCINNATI — Procter & Gamble reported on Friday that second-quarter results were in line with company expectations, and solid growth is projected for the second half of the fiscal year.

Second-quarter net totaled $22.3 billion, unchanged from the year-ago period. Organic sales grew 3%.

Diluted net earnings per share were $1.18, a decrease of 15% versus a base period that included a 21 cents per share holding gain resulting from P&G’s purchase of the balance of its baby care and feminine care joint venture in Iberia.

January 24, 2014

Private equity firm Carlyle Group has reportedly agreed to acquire a minority stake in Vogue International, the maker of Organix hair care products, according to a Reuters report.

NEW YORK — Private equity firm Carlyle Group has reportedly agreed to acquire a minority stake in Vogue International, the maker of Organix hair care products, according to a Reuters report.

"Carlyle will work with Vogue's founder and Chief Executive Officer Todd Christopher and his team to continue expanding the brand and building the business globally," the buyout firm was reported as saying in a statement.

January 22, 2014

An IRI MarketPulse survey found that shopper sentiment dropped in fourth quarter 2013, and this gloomy attitude is spilling over into 2014 across all age groups.

CHICAGO — After a year of sluggish economic growth in 2013, it is no surprise that consumers are beginning the new year with a conservative outlook. An IRI MarketPulse survey released Wednesday found that shopper sentiment dropped in fourth quarter 2013, and this gloomy attitude is spilling over into 2014 across all age groups. 

It is particularly evident among millennials, who reported a 10-point decline since third quarter 2013 and have consistently struggled since the economic downturn began.

January 22, 2014

In light of the changing healthcare landscape due to healthcare reform, Target is discontinuing part-time health insurance coverage for its stores’ part-time associates, beginning April 1, according to a report in Target’s Bullseye View.

MINNEAPOLIS — In light of the changing healthcare landscape due to healthcare reform, Target is discontinuing part-time health insurance coverage for its stores’ part-time associates, beginning April 1, according to a report in Target’s Bullseye View.

January 21, 2014

Ahold's shareholders approved the company's proposal to return €1 billion (US$1.4 billion) to shareholders by way of a capital repayment and reverse stock split.

ZAANDAM, the Netherlands — Ahold's shareholders on Tuesday approved the company's proposal to return €1 billion (US$1.4 billion) to shareholders by way of a capital repayment and reverse stock split.

 Shareholders voted at an extraordinary general meeting held at Ahold's headquarters. The meeting was attended by 65 shareholders, representing approximately 657 million votes.

 

January 13, 2014

McKesson on Monday announced that it was unsuccessful in reaching the 75% completion condition in its offer for the outstanding shares and convertible bonds of Celesio.

SAN FRANCISCO — McKesson on Monday announced that it was unsuccessful in reaching the 75% completion condition in its offer for the outstanding shares and convertible bonds of Celesio.

January 9, 2014

McKesson Corp. has reached an agreement with Franz Haniel & Cie. GmbH, currently representing a 50.01% stake in Celesio, to sweeten the purchase price for its shareholding in Celesio to EUR 23.50 per share.

SAN FRANCISCO and FRANKFURT, Germany — McKesson Corp. has reached an agreement with Franz Haniel & Cie. GmbH, currently representing a 50.01% stake in Celesio, to sweeten the purchase price for its shareholding in Celesio to EUR 23.50 per share.

Accordingly, the price McKesson is offering to all shareholders of Celesio by way of a voluntary public takeover offer increases to EUR 23.50 per share.

January 6, 2014

Shopko is the latest retailer to offer prescriptions at no upfront cost to customers who have enrolled in the new health insurance marketplaces but haven't received their identification cards.

GREEN BAY, Wis. — Shopko is the latest retailer to offer prescriptions at no upfront cost to customers who have enrolled in the new health insurance marketplaces but haven't received their identification cards.

The retail chain said Monday that it would offer supplies of prescriptions in the interim to customers who could provide proof of enrollment. The chain operates 326 stores in the Midwest, Rocky Mountain, North Central and Pacific Northwest regions.

December 23, 2013

The chief executive of Target is reaching out to consumers in the wake of the widespread hacking of credit and debit card data at Target stores that the company confirmed last week.

MINNEAPOLIS — The chief executive of Target is reaching out to consumers in the wake of the widespread hacking of credit and debit card data at Target stores that the company confirmed last week.

In a statement on the mass-merchandise retailer's website, president, chairman and CEO Gregg Steinhafel sought to ameliorate customers' worries about the possibility that their cards were compromised. He emphasized that the issue had been "identified and eliminated," while the retailer extended a 10% discount to customers who shopped at its stores on Saturday and Sunday.