Content about Economy of the United States

June 28, 2012

Mylan is challenging the patent protection on a Pfizer drug for treating depression, following an announcement of a similar challenge by Watson made earlier this week.

PITTSBURGH — Mylan is challenging the patent protection on a Pfizer drug for treating depression, following an announcement of a similar challenge by Watson made earlier this week.

Mylan said it had filed for Food and Drug Administration approval of a generic version of Pristiq (desvenlafaxine succinate) extended-release tablets in the 50-mg and 100-mg strengths.

June 28, 2012

Procter & Gamble has donated a $75,000 grant to USA Gymnastics to support youth sports development, which has the potential to benefit up to 1 million kids.

CINCINNATI — Procter & Gamble has donated a $75,000 grant to USA Gymnastics to support youth sports development, which has the potential to benefit up to 1 million kids.

P&G said the grant will be used to benefit the USA Gymnastics fitness program, which encourages kids ages 6 to 16 years to engage in physical fitness through training, exercise and nutrition awareness. This is the first of several grants that will be awarded to national governing bodies to help encourage youth to engage in sports, the company noted.

June 27, 2012

Publix, Hy-Vee, H-E-B, Sam's Club, Winn-Dixie, ShopRite and Giant Eagle were among the highest-rated companies for customer service, according to new research from the Temkin Group.

WABAN, Mass. — Publix, Hy-Vee, H-E-B, Sam's Club, Winn-Dixie, ShopRite and Giant Eagle were among the highest-rated companies for customer service, according to new research from the Temkin Group.

Among the winners, grocery chains were the only industry to earn a "strong" rating. Retailers, fast food chains, appliance makers and investment firms rounded out the top five. But consumers gave very low ratings to TV service providers and Internet service providers.

June 25, 2012

Wal-Mart Stores said in an emailed statement that the co-heads of its technology unit, @WalmartLabs, are leaving the company.

BENTONVILLE, Ark. — Wal-Mart Stores said in an emailed statement that the co-heads of its technology unit, @WalmartLabs, are leaving the company.

Venky Harinarayan and Anand Rajaraman, who ran the 200-person unit in San Bruno, Calif., are taking some time off from the industry, according to the statement. The pair took the helm of @WalmartLabs when the retailer bought their company Kosmix last year.

Wal-Mart said the rest of the technology team will remain intact.

June 6, 2012

Royal Ahold's U.S. subsidiary saw net sales jump 2.8% to $7.8 billion during first quarter 2012, the company said Wednesday.

AMSTERDAM — Royal Ahold's U.S. subsidiary saw net sales jump 2.8% to $7.8 billion during first quarter 2012, the company said Wednesday.

June 6, 2012

Save Mart Supermarkets announced the hiring of Brett Wing as VP of FoodMaxx operations.

 MODESTO, Calif. — Save Mart Supermarkets announced the hiring of Brett Wing as VP of FoodMaxx operations. Wing comes from Cub Foods/Supervalu in Hudson, Wis., and brings 35 years of grocery store and senior management experience, the grocer stated.

June 6, 2012

A store-level workforce reduction is planned for Albertsons' Southern California division.

FULLERTON, Calif. — A store-level workforce reduction is planned for Albertsons' Southern California division.

May 31, 2012

CVS Caremark Charitable Trust, a private foundation created by CVS Caremark, announced the 2012 grant application process now is open to eligible nonprofit organizations seeking funding.

WOONSOCKET, R.I. — CVS Caremark Charitable Trust, a private foundation created by CVS Caremark, announced the 2012 grant application process now is open to eligible nonprofit organizations seeking funding.

The trust's mission: To provide funding for health care, education and community involvement initiatives that help people on their path to better health in CVS Caremark communities.

May 31, 2012

Teva Pharmaceutical Industries has transferred its stock listing from NASDAQ to the New York Stock Exchange, the drug maker said Wednesday.

NEW YORK — Teva Pharmaceutical Industries has transferred its stock listing from NASDAQ to the New York Stock Exchange, the drug maker said Wednesday.

The company began trading on the NYSE under the ticker symbol "TEVA." On hand Wednesday to ring the Opening Bell and celebrate the company's first day of trading on NYSE were Teva's new president and CEO Jeremy Levin, as well as board chairman Phillip Frost, CFO Eyal Desheh, Teva Americas CEO William Marth and employees from Teva's businesses around the world.

May 18, 2012

Sears Holdings reported profits of $189 million during first quarter 2012, compared with a $165 million loss in first quarter 2011, the company said.

HOFFMAN ESTATES, Ill. — Sears Holdings reported profits of $189 million during first quarter 2012, compared with a $165 million loss in first quarter 2011, the company said.

"We are pleased with the results for the first quarter and our progress toward restoring profit growth and transforming our company," president and CEO Lou D'Ambrosio said.

May 17, 2012

CVS Caremark, through its All Kids Can program, announced on Thursday a partnership with Cedars-Sinai to expand the medical center's Coach for Kids and Their Families program to provide health services to more vulnerable children in South Los Angeles who otherwise would not have access to health services, including immunizations and dental screenings.

LOS ANGELES — CVS Caremark, through its All Kids Can program, announced on Thursday a partnership with Cedars-Sinai to expand the medical center's Coach for Kids and Their Families program to provide health services to more vulnerable children in South Los Angeles who otherwise would not have access to health services, including immunizations and dental screenings.

May 17, 2012

First-quarter profits at Walmart exceeded analysts’ estimates as same-store sales increased 2.6% and the company said its strategy of low prices on a broad merchandise assortment is resonating again with shoppers.

BENTONVILLE, Ark. — First-quarter profits at Walmart exceeded analysts’ estimates as same-store sales increased 2.6% and the company said its strategy of low prices on a broad merchandise assortment is resonating again with shoppers.

May 16, 2012

Albertsons LLC has announced that it is making a $56,000 donation to the Salvation Army’s disaster relief efforts in the South and Midwest, following the series of spring tornadoes that impacted the area.

BOISE, Idaho — Albertsons LLC has announced that it is making a $56,000 donation to the Salvation Army’s disaster relief efforts in the South and Midwest, following the series of spring tornadoes that impacted the area.

The campaign, which began on April 4 and concluded on April 30, allowed customers to select a $1, $3 or $5 donation coupon while paying for their groceries.

May 11, 2012

Publix announced that its initiatives to reduce the use of paper and plastic grocery bags used at checkout have paid off.

LAKELAND, Fla. — Publix announced that its initiatives to reduce the use of paper and plastic grocery bags used at checkout have paid off.

The company said that as of May 10, the number of bags saved since mid 2007 surpassed the 2 billion mark.

May 9, 2012

Walgreens on Wednesday announced it has selected GSD&M to be its new brand and creative agency of record. The relationship will include broadcast, print and outdoor marketing efforts, as well as digital activation and creative.

DEERFIELD, Ill. — Walgreens on Wednesday announced it has selected GSD&M to be its new brand and creative agency of record. The relationship will include broadcast, print and outdoor marketing efforts, as well as digital activation and creative.

May 7, 2012

Club retailer Costco Wholesale is looking to grow its online retail presence, according to published reports.

NEW YORK — Club retailer Costco Wholesale is looking to grow its online retail presence, according to published reports.

According to The Seattle Times, the company plans to introduce apps for Apple and Android devices this month in order to boost its online sales, which, at about $2 billion a year, are behind companies like Walmart and Amazon.

Citing industry statistics, The Seattle Times reported that Costco ranked 17th among online retailers, while Amazon had the top spot, and Walmart was fourth.

May 7, 2012

Walgreens on Monday announced it has completed its acquisition of certain assets of BioScrip’s community specialty pharmacies and centralized specialty and mail-service pharmacy businesses.

DEERFIELD, Ill. — Walgreens on Monday announced it has completed its acquisition of certain assets of BioScrip’s community specialty pharmacies and centralized specialty and mail-service pharmacy businesses. The transaction represents a total deal value of approximately $225 million.

May 3, 2012

Supervalu on Thursday announced that Pete Van Helden, EVP retail operations, will be leaving the company this spring. Taking his place will be Kevin Holt.

MINNEAPOLIS — Supervalu on Thursday announced that Pete Van Helden, EVP retail operations, will be leaving the company this spring. Taking his place will be Kevin Holt.

"This was a mutually beneficial decision that comes at the right time for both Supervalu and Van Helden, as the company continues to implement its business transformation strategy and as Van Helden moves on to opportunities that will better utilize his strengths," the company stated in a release.

May 2, 2012

The Network of Executive Women is honoring Mike Duke, president and CEO of Wal-Mart Stores, with its William J. Grize Diversity Hall of Fame Award, on June 28 during Women's Day at the LPGA in Rogers, Ark.

CHICAGO — The Network of Executive Women is honoring Mike Duke, president and CEO of Wal-Mart Stores, with its William J. Grize Diversity Hall of Fame Award, on June 28 during Women's Day at the LPGA in Rogers, Ark. The award, named after the late CEO of Ahold USA, who was an early advocate of industry diversity, is bestowed upon industry leaders who have demonstrated "an enduring commitment to the advancement of women and to creating a diverse and inclusive workplace," NEW announced.

April 27, 2012

Albertsons LLC is sharpening its focus on social media and digital marketing with the creation of a new social and digital marketing team that will be led by technology and social marketing expert Karl Meinhardt.

BOISE, Idaho — Albertsons LLC is sharpening its focus on social media and digital marketing with the creation of a new social and digital marketing team that will be led by technology and social marketing expert Karl Meinhardt.

April 27, 2012

Procter & Gamble on Friday announced a decrease in third-quarter profit, as sales rose 2%.

CINCINNATI — Procter & Gamble on Friday announced a decrease in third-quarter profit, as sales rose 2%.

Net sales during the quarter rose 2% to $20.2 billion. Organic sales rose 3%.

Net earnings totaled $2.41 billion, or 82 cents per diluted share, compared with $2.87 billion, or 96 cents per diluted share, in the year-ago period.

In the company’s beauty segment, net sales rose 1% to $4.8 billion on unit volume growth of 1%. Organic sales grew 2%. Net earnings rose 3% to $523 million.

April 27, 2012

The news that Walmart now is offering cash payment options for online orders on its site in the United States is important for several reasons. Not only is Walmart the first major retailer to offer the service, but it also further illustrates that stores increasingly are just one slice of a larger, more connected consumer experience.

WHAT IT MEANS AND WHY IT'S IMPORTANT — The news that Walmart now is offering cash payment options for online orders on its site in the United States is important for several reasons. Not only is Walmart the first major retailer to offer the service, but it also further illustrates that stores increasingly are just one slice of a larger, more connected consumer experience.

April 25, 2012

CVS Caremark announced today its partnership with The Miracle Project, a nonprofit organization that creates social skills programs for children with autism through the performing arts, to expand The Miracle Project School Inclusion Program to public schools in San Diego and San Jose, Calif.

SAN DIEGO — CVS Caremark announced today its partnership with The Miracle Project, a nonprofit organization that creates social skills programs for children with autism through the performing arts, to expand The Miracle Project School Inclusion Program to public schools in San Diego and San Jose, Calif.

April 23, 2012

The National Association of Chain Drug Stores has elected new officers for the coming year.

PALM BEACH, Fla. — The National Association of Chain Drug Stores has elected new officers for the coming year.

For the 2012-2013 term, NACDS chairman Bob Loeffler, who also serves as chief administrative officer of H-E-B, will be succeeded by Walgreens president and CEO Greg Wasson. Thrifty White Pharmacy president and CEO Bob Narveson was elected as vice chairman, while Rite Aid president and CEO John Standley was appointed as treasurer, as well as a member of NACDS' executive committee. Wasson, Narveson and Standley will serve one-year terms.

April 22, 2012

The Drug Store News Group on Sunday co-hosted a breakfast with CVS Caremark. Larry Merlo, CVS Caremark president and CEO, shared with attendees CVS’ focus on leveraging personalization opportunities, through both marketing and assortment, to engender loyalty. And suppliers were introduced to new CVS/pharmacy president Mark Cosby and chief merchant Judy Sansone.

PALM BEACH, Fla. — The Drug Store News Group on Sunday co-hosted a breakfast with CVS Caremark to celebrate DSN’s March 12 “Category of One” issue. Larry Merlo, CVS Caremark president and CEO, shared with attendees CVS’ focus on leveraging personalization opportunities, through both marketing and assortment, to engender loyalty. Suppliers also were introduced to new CVS/pharmacy president Mark Cosby.

For pictures of the event, click here.