Content about Economics

March 29, 2011

One could say that a job with the Food and Drug Administration would be the perfect way to get information about upcoming drug approvals and use it to profit handsomely from buying stock in the companies that manufacture the drugs before the information reaches the public.

WASHINGTON — One could say that a job with the Food and Drug Administration would be the perfect way to get information about upcoming drug approvals and use it to profit handsomely from buying stock in the companies that manufacture the drugs before the information reaches the public.

Of course, the Securities and Exchange Commission would consider that illegal insider trading, as one FDA scientist recently discovered.

March 18, 2011

Food prices reached peak levels last month, according to the Labor Department's Producer Price Index.

NEW YORK — Food prices reached peak levels last month, according to the Labor Department's Producer Price Index.

The index noted that the month of February experienced a surge of 3.9% in food prices, the largest increase since a 4.2% climb reported in November 1974. PPI also noted that about 70% of the February rise can be attributed to higher prices for fresh and dry vegetables, which jumped 48.7%.

March 16, 2011

The National Retail Federation said legislation introduced Tuesday to delay swipe fee reform, which is scheduled to go into effect this summer, would block retailers from giving discounts to consumers who use debit cards and would cost merchants and the public more than $1 billion per month.

WASHINGTON — The National Retail Federation said legislation introduced Tuesday to delay swipe fee reform, which is scheduled to go into effect this summer, would block retailers from giving discounts to consumers who use debit cards and would cost merchants and the public more than $1 billion per month.

March 15, 2011

The Deloitte Consumer Spending Index rose to more than 4% during the month of February, thanks to slight improvements in two sectors.

NEW YORK — The Deloitte Consumer Spending Index rose to more than 4% during the month of February, thanks to slight improvements in two sectors.

The index attempts to track consumer cash flow as an indicator of future consumer spending and is comprised of four components: unemployment claims, tax burden, real wages and real home prices. It rose to 4.02% from 3.92% in January.

March 15, 2011

Mr. Bubble, which was acquired by The Village Co. in 2008, is broadening its portfolio with two new products for children — Mr. Bubble original bubble body wash and extra gentle body wash. Both formulas feature newly redesigned packaging, showcasing the new Mr. Bubble character.

CHASKA, Minn. — Mr. Bubble, which was acquired by The Village Co. in 2008, is broadening its portfolio with two new products for children: Mr. Bubble original bubble body wash and extra gentle body wash. Both formulas feature newly redesigned packaging, showcasing the new Mr. Bubble character.

The new body washes are made with aloe and shea butter to moisturize and are tear-free formulas. Both body washes are hypoallergenic, dermatologist-tested and pediatrician-tested for a gentle clean. The extra gentle body wash is dye-free and fragrance-free for extra-sensitive skin.

March 9, 2011

The National Association of Chain Drug Stores and the National Community Pharmacists Association on Tuesday urged Congress to permit the Federal Reserve Board to expedite the implementation of an amendment to the financial-reform legislation.

ALEXANDRIA, Va. — The National Association of Chain Drug Stores and the National Community Pharmacists Association on Tuesday urged Congress to permit the Federal Reserve Board to expedite the implementation of an amendment to the financial-reform legislation from Sen. Dick Durbin, D-Ill., that would limit the fees charged to retail merchants on debit card transactions (known as “swipe fees”) to a level that is “reasonable and proportionate” to the costs incurred by the banks and credit card associations to process these transactions.

March 4, 2011

Analysts already are speculating dire outcomes if the price of a gallon of gas eclipses $5 this summer on account of Middle East turmoil today. Any additional strains on the supply chain system, such as increased operational costs as high as 20%, would only make matters worse.

WHAT IT MEANS AND WHY IT’S IMPORTANT — Analysts already are speculating dire outcomes if the price of a gallon of gas eclipses $5 this summer on account of Middle East turmoil today. Any additional strains on the supply chain system, such as increased operational costs as high as 20%, would only make matters worse.

(THE NEWS: Rising gas prices not only factor driving supply chain costs. For the full story, click here)

March 3, 2011

Kroger on Thursday beat analysts’ quarterly consensus, posting 46 cents in earnings per share (adjusted for a goodwill impairment charge) that exceeded consensus by 2 cents EPS, with a higher-than-expected identical-store sales lift of 3.8% (excluding fuel).

CINCINNATI — Kroger on Thursday beat analysts’ quarterly consensus, posting 46 cents in earnings per share (adjusted for a goodwill impairment charge) that exceeded consensus by 2 cents EPS, with a higher-than-expected identical-store sales lift of 3.8% (excluding fuel).

Same-store sales were particularly strong across natural food, bakery and deli/meat, Kroger chairman and CEO David Dillon told analysts during a conference call. “We were particularly pleased by sales growth in our drug and merchandise departments,” Dillon said.

March 1, 2011

After years of declines, U.S. prestige beauty experienced a boost in 2010, with skin care proving yet again to be the strongest performer, according to beauty market research conducted by the NPD Group.

PORT WASHINGTON — After years of declines, U.S. prestige beauty experienced a boost in 2010, with skin care proving yet again to be the strongest performer, according to beauty market research conducted by the NPD Group.

The market research company stated that U.S. prestige beauty generated $8.4 billion in 2010, up 4%, compared with $8.19 billion in 2009.

February 28, 2011

The National Retail Federation last week responded to the Federal Reserve's proposal to cap debit card swipe fees at 12 cents per transaction.

WASHINGTON — The National Retail Federation last week responded to the Federal Reserve's proposal to cap debit card swipe fees at 12 cents per transaction.

February 11, 2011

Nicole by OPI has announced that it will reissue its sold-out One Less Lonely Girl nail lacquer shades, inspired by the songs and fans of pop star Justin Bieber.

LOS ANGELES — Nicole by OPI has announced that it will reissue its sold-out One Less Lonely Girl nail lacquer shades, inspired by the songs and fans of pop star Justin Bieber.

With more than 1 million bottles sold since the December 2010 launch, Nicole by OPI plans to ship triple this number to meet consumer demand.

January 25, 2011

The Conference Board said Tuesday that its Consumer Confidence Index reached its highest level in eight months as Americans grew more optimistic about the job market.

WASHINGTON — The Conference Board said Tuesday that its Consumer Confidence Index reached its highest level in eight months as Americans grew more optimistic about the job market.

The index climbed to 60.6 this month, up from 53.3 in December. While that reading surpassed expectations, it still fell short of the 90 level that indicates a healthy consumer mindset.

The January figure was the highest since last May's 62.7. The index has not risen above 90 since the recession began in December 2007.

January 19, 2011

Attention personal care product marketers and manufacturers: Consumers' attitude toward innovation is not what conventional wisdom has been dictating, and there are differences between their current perception of the industry and desired reality.

PARSIPPANY, N.J. — Attention personal care product marketers and manufacturers: Consumers' attitude toward innovation is not what conventional wisdom has been dictating, and there are differences between their current perception of the industry and desired reality. That's according to the findings of Kline & Co.'s new report that leverages a unique form of emerging research methodology.

January 18, 2011

A mobile shopping platform has inked a deal with an expert and adviser to the payments industry.

BOSTON — A mobile shopping platform has inked a deal to sell its checkout solution to various retailers.

AisleBuyer said that Alliance will sell its mobile self-checkout solution, which allows shoppers to scan a bar code, read product information and reviews, and complete the checkout process directly from a mobile device without having to wait in line.

January 5, 2011

As announced at CVS Caremark's 2010 analyst meeting in October and reported by Drug Store News, the company's retail division is extending its successful ExtraCare loyalty program by officially launching the new ExtraCare Beauty Club, the first-ever beauty club program for the retail pharmacy industry.

WOONSOCKET, R.I. — As announced at CVS Caremark's 2010 analyst meeting in October and reported by Drug Store News, the company's retail division is extending its successful ExtraCare loyalty program by officially launching the new ExtraCare Beauty Club, the first-ever beauty club program for the retail pharmacy industry.

CVS/pharmacy is launching the beauty club program during the People's Choice Awards 2011 on CBS at 9 p.m. EST.

January 3, 2011

Weis Markets last week announced it has lowered the prices on 2,400 staple items, effective Jan. 2, and that it will freeze the prices of these products for 90 days through April 2.

SUNBURY, Pa. — Weis Markets last week announced it has lowered the prices on 2,400 staple items, effective Jan. 2, and that it will freeze the prices of these products for 90 days through April 2.

It is the company’s sixth round of its 90-day Price Freeze program over the past two years.

December 27, 2010

The IRS issued new guidance Dec. 23 that enables consumers to continue to use flexible spending and health reimbursement account debit cards to purchase prescribed OTC products.

WASHINGTON — Though most might associate the Internal Revenue Service with the Grinch, the IRS came through with a last-minute Christmas present for retailers stung by changes in the tax code related to consumers’ use of flexible spending and health reimbursement accounts to purchase approved OTC products.

December 6, 2010

Dollar General reported that its third quarter net income was $128 million, or diluted earnings per share of 37 cents.

GOODLETTSVILLE, Tenn. — Dollar General reported that its third-quarter net income was $128 million, or a diluted earnings per share of 37 cents.

Excluding a net loss of $8 million ($5 million after income taxes) relating to the early repayment of certain long-term obligations, net income for the 2010 third quarter was $133 million, or a diluted EPS of 39 cents, a 76% increase over net income of $76 million, or 24 cents per diluted share, in the third quarter of fiscal 2009.

November 18, 2010

A new analysis indicated that retailers should expect a modest increase in sales despite wavering...

SAN FRANCISCO — A new analysis indicated that retailers should expect a modest increase in sales despite wavering consumer confidence.

The report, developed by global management consulting firm Kurt Salmon Associates, projected 2.1% to 2.6% growth in personal consumption expenditures for fourth quarter 2010. The analysis also showed spending on durable and nondurable goods will continue to outpace spending on services this holiday season.

November 17, 2010

A coalition of six associations, including the Consumer Healthcare Products Association and the National Association...

WASHINGTON — A coalition of six associations, including the Consumer Healthcare Products Association and the National Association of Chain Drug Stores, on Thursday called on Congress to repeal the requirement that prevents consumers from using their flexible spending accounts to purchase over-the-counter medicines without a prescription as of Jan. 1.

 

November 16, 2010

Soft housing prices drove down the Deloitte consumer spending index for the month of October,...

NEW YORK — Soft housing prices drove down the Deloitte consumer spending index for the month of October, Deloitte said Wednesday.

The index, which is comprised of four components — tax burden, initial unemployment claims, real wages and real home prices — fell to 4.63%, from an upwardly revised gain of 4.84% a month ago.

But Deloitte said that the drop is no reason to give up hope on the holiday season.

November 16, 2010

A provider of self-service kiosk solutions has inked a definitive agreement to acquire an operator...

JACKSONVILLE, Fla. A provider of self-service kiosk solutions has inked a definitive agreement to acquire an operator of unattended DVD rental kiosks.

November 15, 2010

Weak sales trends continued at Walmart’s U.S. stores division during the third quarter as same-store...

BENTONVILLE, Ark. Weak sales trends continued at Walmart’s U.S. stores division during the third quarter as same-store sales declined 1.3%; however, the company managed to meet analysts’ third-quarter earnings per share target of 90 cents.

 

Inclusion of a five cents a share tax benefit resulted in third-quarter earnings per share of 95 cents and caused the company to raise the full-year profit forecast to a range of $4.08 to $4.12 from $3.95 to $4.05.

 

 

October 26, 2010

There's talk that nail polish company OPI Products is looking to sell itself for at...

NEW YORK There's talk that nail polish company OPI Products is looking to sell itself for at least $900 million, according to a Wall Street Journal report.

OPI reportedly is in discussions with several parties, including Coty and private-equity firm Bain Capital, according to WSJ, which cited "people familiar with the matter."

Harris Shepard Public Relations, which represents OPI, stated: "The rumors about the sale of OPI have persisted for years. Other than that, [we] have no comment. Thank you."

October 14, 2010

A new poll conducted by the Financial Times and Harris Poll found that worry over...