Content about Economy of the United States

May 7, 2013
Target soft opens western Canada stores

Target opened 22 of its stores in western Canada Tuesday and will open two more next Tuesday, the mass merchandise retailer said.

MISSISSAUGA, Ontario — Target is opening 22 of its stores in western Canada Tuesday and two more next Tuesday, the mass merchandise retailer said.

Target announced that it would soft open stores in British Columbia, Alberta and Manitoba. Most of the stores will include pharmacies and in-store Starbucks. The chain plans to open 124 stores across Canada this year and opened 24 in Ontario in March.

May 7, 2013
Walgreens adds new in-store home movie transfer service to photo portfolio through iMemories

iMemories and Walgreens on Tuesday announced the availability of iMemories in Walgreens locations nationwide.

SCOTTSDALE, Ariz. — iMemories and Walgreens on Tuesday announced the availability of iMemories in Walgreens locations nationwide.

May 6, 2013
Sam's Club offers skin, weight, stress screenings

Sam's Club is offering free skin and weight screenings during the weekend, the club retailer said Monday.

BENTONVILLE, Ark. — Sam's Club is offering free skin and weight screenings during the weekend, the club retailer said Monday.

Sam's Club said all of its stores that operate pharmacies would offer the screenings, as well as screenings for the effects of stress on both, on Saturday. The screenings include body mass index, blood tests for the stress hormone cortisol, weight, height, blood pressure and vision. The stores also will give away certificates for free samples of the probiotic supplement Align.

May 3, 2013
April sales up 3.8% across Walgreens

Walgreens on Friday posted April sales of $6 billion, an increase of 3.8% as compared to the same month in fiscal 2012.

DEERFIELD, Ill. — Walgreens on Friday posted April sales of $6 billion, an increase of 3.8% as compared to the same month in fiscal 2012. 

Total front-end sales decreased 2.9%, while comparable store front-end sales decreased 4.3%. Customer traffic in comparable stores decreased 5.9% while basket size increased 1.6%.

May 3, 2013
CVS Caremark's integrated model continues to prove successful in Q1 results

CVS Caremark executives were upbeat during last week’s conference call with analysts as the company pulled in a “strong” first quarter and narrowed its 2013 guidance to reflect higher-than-expected performance.

The positive start to 2013 is important as it further demonstrates that CVS Caremark’s distinctive, integrated healthcare model is resonating and spelling success for this pharmacy innovation company.

CVS Caremark executives were upbeat during last week’s conference call with analysts, as the company pulled in a “strong” first quarter and narrowed its 2013 guidance to reflect higher-than-expected performance.

The positive start to 2013 is important as it further demonstrates that CVS Caremark’s distinctive, integrated healthcare model is resonating and spelling success for this pharmacy innovation company.

May 3, 2013
Kellogg looks to new adult breakfast offerings to boost segment sales

Cereal maker Kellogg is hoping to appeal to adult customers with new breakfast food lines, the company said in announcing its first quarter 2013 earnings.

BATTLE CREEK, Mich. — Cereal maker Kellogg Co. is hoping to appeal to adult customers with new breakfast food lines, the company said in announcing its first quarter 2013 earnings.

In a conference call with financial analysts, CEO John Bryant said the company plans to launch Raisin Bran with omega-3, multi-grain Special K and new additions to the Kashi brand later this year, citing lagging sales in the adult-products segment compared with products aimed at children.

May 2, 2013
CVS Caremark to serve 1.1M CareFirst members

CareFirst BlueCross BlueShield has entered into a three-year agreement with CVS Caremark to provide pharmacy benefit and other related services to its commercial and Medicare Part D members, CareFirst announced earlier this week.

BALTIMORE, Md. — CareFirst BlueCross BlueShield has entered into a three-year agreement with CVS Caremark to provide pharmacy benefit and other related services to its commercial and Medicare Part D members, CareFirst announced earlier this week.

May 2, 2013
DSN tours Walgreen’s new Boston flagship store with Bryan Pugh

Walgreens VP merchandising, store design and well experience Bryan Pugh walked DSN through the company’s newest flagship store, here, in downtown Boston, Tuesday, a day before the official ribbon cutting of the store.

BOSTON — Walgreens VP merchandising, store design and well experience Bryan Pugh walked DSN through the company’s newest flagship store, here, in downtown Boston, Tuesday, a day before the official ribbon cutting of the store.

May 2, 2013
Nutrisystem adjusts retail offering with weight-loss kit exclusive at Walmart

Nutrisystem executives told analysts they were bullish around expanding their weight-loss meal delivery service into mass retail through its partnership with Walmart.

FORT WASHINGTON, Pa. — Nutrisystem executives on Wednesday told analysts they were bullish around expanding their weight-loss meal delivery service into mass retail through its partnership with Walmart. Initially beginning with 500 Walmart doors in January, the company recently expanded the offering to 2,000 stores and climbing. 

May 1, 2013
Publix posts 6.1% gain in first-quarter sales

Publix posted first quarter sales of $7.5 billion, representing a 6.1% increase.

LAKELAND, Fla. — Publix on Wednesday posted first-quarter sales of $7.5 billion, representing a 6.1% increase. The Easter holiday in the first quarter of 2013, which was in the second quarter of 2012, increased sales by approximately 1.3%, the grocer noted. 

Comparable-store sales for the first quarter of 2013 increased 3.9%.

May 1, 2013
Rite Aid signs on as platinum sponsor of EIF Revlon Run/Walk for Women

Rite Aid has signed on as a platinum sponsor of the Entertainment Industry Foundation Revlon Run/Walk for Women, the retail pharmacy chain said Wednesday.

CAMP HILL, Pa. — Rite Aid has signed on as a platinum sponsor of the Entertainment Industry Foundation Revlon Run/Walk for Women, the retail pharmacy chain said Wednesday.

The company will sponsor the New York and Los Angeles events this month, fielding teams of runners and walkers, manning booths and bringing fitness expert Denise Austin to warm up participants, as well as partnering with Revlon to donate a combined $100,000 to the EIF in support of efforts against women's cancer.

May 1, 2013
Year is off to a 'great start' as CVS Caremark reports 'strong' Q1

The year appears to be off to a good start, and CVS Caremark executives were optimistic Wednesday morning as the company pulled in a “strong” first quarter and narrowed its 2013 guidance to reflect higher-than-expected performance.

WOONSOCKET, R.I. — The year appears to be off to a good start, and CVS Caremark executives were optimistic Wednesday morning as the company pulled in a “strong” first quarter and narrowed its 2013 guidance to reflect higher-than-expected performance.

April 29, 2013
J&J chairman pledges to restore U.S. OTC business, outlines growth opportunities overseas

Johnson & Johnson chairman and CEO Alex Gorsky last week told shareholders that its consumer healthcare business would reclaim its prominence in the U.S. marketplace at the company's annual shareholder meeting. But OTC growth will be greatest outside of the United States.

NEW BRUNSWICK, N.J. — Johnson & Johnson chairman and CEO Alex Gorsky last week told shareholders that its consumer healthcare business would reclaim its prominence in the U.S. marketplace at the company's annual shareholder meeting. But OTC growth will be greatest outside of the United States.

April 29, 2013
Rite Aid CEO appointed to Supervalu board

Supervalu has appointed Rite Aid president, chairman and CEO John Standley to its board of directors, the supermarket operator said. The company also announced the appointment of Cerberus Capital Management COO and general counsel Mark Neporent.

MINNEAPOLIS — Supervalu has appointed Rite Aid president, chairman and CEO John Standley to its board of directors, the supermarket operator said.

The company also announced the appointment of Cerberus Capital Management COO and general counsel Mark Neporent.

April 29, 2013
Target features products selected by Wired magazine

Target will feature electronics picked by the editors of Wired magazine, under a deal between the two.

MINNEAPOLIS — Target will feature electronics picked by the editors of Wired magazine, under a deal between the two announced Monday.

Target said the custom-curated assortment of products would include four products available for the first time at Target, including personal fitness, photography, digital music streaming and others.

April 26, 2013
North American sales of electronics, HBA up 28.4% for Amazon

Amazon on Thursday reported a net sales increase of 22% to $16.1 billion for its first quarter ended March 31.

SEATTLE — Amazon on Thursday reported a net sales increase of 22% to $16.1 billion for its first quarter ended March 31. Of that, $9.4 billion was sourced from the North American market. North American sales of electronics, health and beauty products, among other merchandise, reached $6.1 billion for the quarter, up 28.4%. 

During a conference call with analysts, Amazon CEO Tom Szkutak declined to confirm rumors that Amazon is investing in additional refrigeration equipment across its fulfillment center footprint with plans to expand AmazonFresh. 

April 26, 2013
Pharmaceutical distribution agreements critical for Cardinal, McKesson

Cardinal Health announced the renewal of its pharmaceutical distribution agreement with CVS Caremark to supply pharmaceuticals to the company’s retail pharmacies and distribution centers, as McKesson, which generally serves the PBM side of the business, also announced the renewal of its current distribution agreement with the pharmacy retailer.

The renewal of the agreements was not only critical for both companies but, as Adam Fein, president of Pembroke Consulting and CEO of Drug Channels Institute, wrote in his blog “CVS Caremark Renews with Cardinal and McKesson,” it also “demonstrates wholesalers' value in the brand-name pharmacy supply chain.”

Cardinal Health announced the renewal of its pharmaceutical distribution agreement with CVS Caremark to supply pharmaceuticals to the company’s retail pharmacies and distribution centers, as McKesson, which generally serves the PBM side of the business, also announced the renewal of its current distribution agreement with the pharmacy retailer.

April 26, 2013
Walgreens, Alliance Boots, AmerisourceBergen deal to benefit Good Neighbor Pharmacy

AmerisourceBergen's base of 3,452 independently owned Good Neighbor Pharmacies will be another benefactor out of the wholesaler's blockbuster agreement with Walgreens and Alliance Boots, AmerisourceBergen CEO, president, director and chairman Steven Collis told analysts during a conference call Thursday.

VALLEY FORGE, Pa. — AmerisourceBergen's base of 3,452 independently owned Good Neighbor Pharmacies will be another benefactor out of the wholesaler's blockbuster agreement with Walgreens and Alliance Boots, AmerisourceBergen CEO, president, director and chairman Steven Collis told analysts during a conference call Thursday.

April 25, 2013
Cardinal Health, McKesson renew pharmaceutical distribution agreements with CVS Caremark

Cardinal Health and McKesson separately announced the renewal of their pharmaceutical distribution agreements with CVS Caremark.

DUBLIN, Ohio — Cardinal Health and McKesson separately announced the renewal of their pharmaceutical distribution agreements with CVS Caremark.

Under Cardinal Health’s renewed agreement, the wholesaler stated that it will supply pharmaceuticals to a network of CVS Caremark's retail pharmacies and distribution centers through mid-2016. The stores and distribution centers serviced under the new arrangement are essentially the same as those serviced in the prior arrangement.

April 25, 2013
Greenstone launches authorized generic painkiller

Greenstone has launched an authorized generic painkiller, the company said.

PEAPACK, N.J. — Greenstone has launched an authorized generic painkiller, the company said.

Greenstone, the generics arm of Pfizer, announced the introduction of authorized generic oxaprozin caplets in the 600 mg strength. The drug is a version of Pfizer's Daypro, a non-steroidal anti-inflammatory drug, or NSAID.

Authorized generics are branded drugs sold under their generic names at a reduced price.

 

April 25, 2013
UPDATE: Shoppers Drug Mart sees boost in Q1 sales

TORONTO — Shoppers Drug Mart announced on Thursday that first quarter sales rose 3.8% thanks to strong volume in pharmacy and continued sales and market share gains at the front end. The company also indicated that it remains on the acquisition track and is "carefully" watching as Target bolsters its presence in Canada.

April 24, 2013
J&J launches diabetes education site for European healthcare professionals

Johnson & Johnson subsidiary Janssen has launched an interactive educational website about diabetes for European healthcare professionals.

BEERSE, Belgium — Johnson & Johnson subsidiary Janssen has launched an interactive educational website about diabetes for European healthcare professionals.

Dubbed the Janssen Diabetes Forum, the website is designed to educate users about the latest developments in the management of Type 2 diabetes. The website was launched Tuesday in Beerse, Belgium.

April 24, 2013
P&G posts Q3 results up 2%

Procter & Gamble has announced that third-quarter sales rose 2% as net earnings per share rose 7%.

CINCINNATI — Procter & Gamble has announced that third-quarter sales rose 2% as net earnings per share rose 7%.

April 24, 2013
Supervalu sales down as company goes through 'transitioning' period

Supervalu posted sales of $3.89 billion and a loss of $1.41 billion in fourth quarter 2013, the company said Wednesday.

MINNEAPOLIS — Supervalu posted sales of $3.89 billion and a loss of $1.41 billion in fourth quarter 2013, the company said Wednesday.

That result compared with sales of $3.98 billion and a loss of $424 million in fourth quarter 2012.

For the fiscal year, sales were $17.1 billion, compared with $17.3 billion in fiscal year 2012, while the company incurred a loss of $1.46 billion, compared with a $1.04 billion loss the year before.

April 24, 2013
Target to remodel, upgrade 25 school libraries in 2013

Target will renovate libraries at more than two dozen schools in need across the country this year under a program that will also include book donations and technology upgrades, as well as the option to have a Target-supported food pantry built, the mass merchandise retailer said.

MINNEAPOLIS — Target Corp. will renovate libraries at more than two dozen schools in need across the country this year under a program that will also include book donations and technology upgrades, as well as the option to have a Target-supported food pantry built, the mass merchandise retailer said Wednesday.