Content about Economy of Canada

ARLINGTON, Va. — Today, the National Association of Chain Drug Stores Foundation announced the election of five new members to its board of directors. Victor Curtis, SVP pharmacy of Costco Wholesale; Jon Giacomin, president of U.S. pharmaceutical distribution for the pharmaceutical group of Cardinal Health; John Poulin, director of professional relations of Lilly USA; Todd Tillemans, president of customer development at Unilever; and Richard Tremonte, VP sales and marketing of the U.S.

NEW YORK — The Jean Coutu Group sold 72.5 million of its 178.4 million shares of Rite Aid stock, according to a Securities and Exchange Commission filing Monday and company announcement Tuesday.

The Canadian retail pharmacy group said it sold the shares for $158.5 million and would record a gain of $49.7 million in its net profit during first quarter 2014. The sale brings Jean Coutu's stake in Rite Aid down to 11.7%, the company said.

TORONTO — Target has made its REDcard cards available for customers at its Canadian stores, the mass merchandise retailer said.

LOS ANGELES — The All American Pet Co. said its new line of nutrition bars for dogs is on its way to Walmart.

The company said Thursday that its three SKUs of NutraBars were on their way to "the world's largest retailer" for its first purchase order, though it didn't mention Walmart by name.

"We can get the retailer, but we can't write the retailer's purchase order," AAPT CEO Barry Schwartz said. "We created the bar and have the capabilities to meet the demand."

MISSISSAUGA, Ontario — Target will sponsor a tour across Canada that will visit more than 20 communities ahead of the planned opening of its stores in the country, the mass-merchandise retailer said Tuesday.

The tour will start in Halifax, Nova Scotia, and conclude in British Columbia in the middle of December. Target plans to open 124 stores in Canada starting in March and April 2013.

CAMBRIDGE, Mass. — Target should be feeling confident about its upcoming entry into Canada, as a recent survey from Kantar Retail and TNS Canada revealed that 75% of Canadians are aware of the retailer.

Furthermore, 43% of Canadian consumers said that they were likely to shop at Target Canada for grocery or health and beauty aids and 50% were likely to shop at Target Canada for general merchandise or apparel.

NEWARK, N.J. — The Keystone Folding Box Co. has launched a pharmaceutical compliance packaging system that it said was environmentally sustainable, easy to use for elderly people and resistant to tampering by children.

The company announced Wednesday that its Ecoslide-RX would soon arrive at Walmart pharmacies.

"At Walmart, we are dedicated to quality patient care and have proven that adherence packaging assists in these endeavors," Walmart VP pharmacy merchandising Sandy Kinsey said.

BENTONVILLE, Ark. — Walmart is hoping to blaze a bold new trail down the path toward wellness in its healthy food discount partnership with HumanaVitality announced this morning, and the global retailer has challenged others to follow. 

BENTONVILLE, Ark. — Walmart announced its Top 20 Toy List for the upcoming holidays and said the items now are available at Walmart stores in time for the retailer's layaway program, which launches this Sunday.

In a social media tie-in, customers who "like" their local Walmart store's Facebook page can begin using the service immediately.

MINNEAPOLIS — Supervalu on Monday named Wayne Sales, a Canadian hall-of-fame-caliber retailer, as the company's president and CEO, replacing Craig Herkert.

“In my new role, I will work closely with our leadership team to improve our sales and earnings trajectory and generate long-term shareholder value, focusing relentlessly on identifying factors that will drive meaningful improvements in our strategy execution and overall performance,” Sales stated.

LONGUEUIL, Quebec -- The Jean Coutu Group has sold 56 million of its approximately 234.4 million shares in Rite Aid, the company said Friday.

The Canadian retailing group said the $83.6 million, $1.51-per-share sale, which amounts to a nearly 24% reduction in the number of Rite Aid shares the company owns, would reduce its stake in Camp Hill, Pa.-based Rite Aid to 19.85%. The Jean Coutu group still owns about 178.4 million shares in the 4,667-store chain.

NEWTON, N.C. — GoldToe Moretz last week announced the launch of a new SoleUtion socks line for men and women that provides enhanced comfort and overall foot and leg well-being. Dress and casual SoleUtion styles range in price points from $8 and $16, and currently are available online.

The company, however, is targeting a launch in the drug channel.
 
The SoleUtion line features mild, moderate and firm compression choices; crew and quarter profile choices; and non-­binding tops to help circulation.