Content about Economy of the United States

March 21, 2012

CVS/pharmacy is shuttering all of its Beauty360 locations and ceasing operation of the Beauty360 e-commerce business to focus on the growth of its core CVS/pharmacy beauty business, the retailer confirmed on Wednesday.

WOONSOCKET, R.I. — CVS/pharmacy is shuttering all of its Beauty360 locations and ceasing operation of the Beauty360 e-commerce business to focus on the growth of its core CVS/pharmacy beauty business, the retailer confirmed on Wednesday.

As of May 19, all 25 of the Beauty360 locations will close and the e-commerce business will cease operation.

March 21, 2012

Israel-based Teva Pharmaceutical Industries is switching stock exchanges, the company said.

JERUSALEM — Israel-based Teva Pharmaceutical Industries is switching stock exchanges, the company said.

The world's largest generic drug manufacturer — and increasingly a player in branded and specialty drugs — announced Wednesday that it would transfer the listing of its shares from the Nasdaq to the New York Stock Exchange, with plans to start trading on the NYSE on May 30 under its current ticker symbol, "TEVA."

March 19, 2012

A miniature version of the spike in stock market activity that followed speculation about the prospects of a Walgreens-Rite Aid merger happened on Drug Store News' website as a quick writeup about the potential deal became the most-read story on the site. But for all the buzz that Credit Suisse analyst Edward Kelly created with his report, a Walgreens-Rite Aid merger appears pretty unlikely on closer inspection.

WHAT IT MEANS AND WHY IT'S IMPORTANT — A miniature version of the spike in stock market activity that followed speculation about the prospects of a Walgreens-Rite Aid merger happened on Drug Store News' website as a quick writeup about the potential deal became the most-read story on the site.

(THE NEWS: Reports: WAG-RAD merger speculation drives RAD stock to four-year high. For the full story, click here)

March 16, 2012

Many Walgreens customers are "flocking" to independent pharmacies amid the dispute between the retail pharmacy chain and pharmacy benefit manager Express Scripts, a trade group representing the PBM industry said.

WASHINGTON — Many Walgreens customers are "flocking" to independent pharmacies amid the dispute between the retail pharmacy chain and pharmacy benefit manager Express Scripts, a trade group representing the PBM industry said.

The Pharmaceutical Care Management Association announced results of a survey conducted by North Star Opinion Research, touting the results as evidence of preferred pharmacy networks' benefits to independent retail pharmacies and customers.

March 15, 2012

A takeover by Walgreens is "highly unlikely," but Rite Aid shares could stay past the $2 mark due to the company's fundamentals, an analyst said Thursday.

NEW YORK — A takeover by Walgreens is "highly unlikely," but Rite Aid shares could stay past the $2 mark due to the company's fundamentals, an analyst said Thursday.

March 14, 2012

Shares of Rite Aid crossed the $2 mark Wednesday afternoon following analyst speculation about the prospects of a takeover by Walgreens, according to published reports.

NEW YORK — Shares of Rite Aid crossed the $2 mark Wednesday afternoon following analyst speculation about the prospects of a takeover by Walgreens, according to published reports.

March 8, 2012

Delhaize America, the U.S. division of Delhaize Group, saw a decrease in underlying operating profit prompted by soft sales, an increase in operating expenses to support growth projects and price investments for fourth quarter 2011.

SALISBURY, N.C. — Delhaize America, the U.S. division of Delhaize Group, saw a decrease in underlying operating profit prompted by soft sales, an increase in operating expenses to support growth projects and price investments for fourth quarter 2011.

March 7, 2012

Publix on Wednesday declared an annual cash dividend on its common stock of 59 cents per share.

LAKELAND, Fla. — Publix on Wednesday declared an annual cash dividend on its common stock of 59 cents per share.

The dividend will be payable and mailed June 1 to stockholders of record as of the close of business April 30, the grocer said.

March 5, 2012

CVS Caremark has announced that its EVP and chief medical officer Troyen Brennan has been named to the National Commission on Physician Payment Reform, an independent commission that will assess how physicians are paid, and how pay incentives are linked to patient care.

WOONSOCKET, R.I. — CVS Caremark has announced that its EVP and chief medical officer Troyen Brennan has been named to the National Commission on Physician Payment Reform, an independent commission that will assess how physicians are paid, and how pay incentives are linked to patient care.

March 5, 2012

A Rite Aid category manager has won a top award from a trade association representing candy makers.

CAMP HILL, Pa. — A Rite Aid category manager has won a top award from a trade association representing candy makers.

Rite Aid said Monday that Val Stansfield had received the 2012 Confectionary Leadership Award from the National Confectioners Association. The award is given to people who demonstrate "exemplary leadership behaviors in business planning and collaboration," the company said. Stansfield was 1-of-3 recipients at the NCA's State of the Industry Conference last week in Miami.

March 5, 2012

Higher front-end sales for the month of February helped counter-balance lost revenue from Express Scripts prescriptions, Walgreeens reported Monday. Overall, the drug store chain reported a 1.5% sales increase to $5.9 billion.

DEERFIELD, Ill. — Higher front-end sales for the month of February helped counter-balance lost revenue from Express Scripts prescriptions, Walgreeens reported Monday. Overall, the drug store chain reported a 1.5% sales increase to $5.9 billion.

Shares of Walgreens were up slightly by 8 cents to $32.77 in early morning trading.

March 2, 2012

Walmart said Thursday it is continuing its annual tradition of increasing shareholder payout by raising its dividend by 9%.

BENTONVILLE, Ark. — Walmart said Thursday it is continuing its annual tradition of increasing shareholder payout by raising its dividend by 9%.

Walmart will pay a quarterly dividend of 39.75 cents on April 4 to shareholders of record on March 12. That works out to $1.59 per share for the year. The company has increased its dividend every year since its first declared dividend in March 1974.

According to Walmart president and CEO Mike Duke, the company's U.S. business is back on track, and international results remain strong.

March 1, 2012

Publix reported a 13.4% increase in its fourth-quarter sales to $7.2 billion, the retailer said Thursday.

LAKELAND, Fla. — Publix reported a 13.4% increase in its fourth-quarter sales to $7.2 billion, the retailer said Thursday.

Net earnings for fourth quarter 2011 were $399.5 million, compared to $342.1 million in 2010, an increase of 16.8%. Comparable-store sales for the fourth quarter increased 5.3%.

Meanwhile, earnings per share were 51 cents, up from 44 cents per share in 2010.

February 24, 2012

The fact that CVS Caremark’s MinuteClinic has partnered with Allscripts to leverage its electronic health record system helps further position MinuteClinic for future growth and clinical collaboration.

WHAT IT MEANS AND WHY IT'S IMPORTANT — The fact that CVS Caremark’s MinuteClinic has partnered with Allscripts to leverage its electronic health record system helps further position MinuteClinic for future growth and clinical collaboration.

(THE NEWS: MinuteClinic deploys Allscripts EHR nationally. For the full story, click here.)

February 24, 2012

MinuteClinic has entered a clinical affiliation with HCA's TriStar Health, the largest health system in middle Tennessee, to enhance access to high-quality, affordable healthcare services in the Nashville metro area.

WOONSOCKET, R.I. and NASHVILLE, Tenn. — MinuteClinic has entered a clinical affiliation with HCA's TriStar Health, the largest health system in middle Tennessee, to enhance access to high-quality, affordable healthcare services in the Nashville metro area.

MinuteClinic has 14 walk-in medical clinics inside select CVS/pharmacy stores in Middle Tennessee. The agreement includes any current or future locations in Nashville and 10 surrounding counties.

February 24, 2012

Procter & Gamble unveiled a larger than expected cost-savings program that involves cutting a total of 5,700 nonmanufacturing jobs in an effort to trim costs by the end of fiscal 2016, said P&G CEO Bob McDonald during the company’s annual Consumer Analyst Group of New York conference in Boca Raton, Fla.

CINCINNATI — Procter & Gamble unveiled a larger than expected cost-savings program that involves cutting a total of 5,700 nonmanufacturing jobs in an effort to trim costs by the end of fiscal 2016, said P&G CEO Bob McDonald during the company’s annual Consumer Analyst Group of New York conference in Boca Raton, Fla.

According to published reports, the cuts represent about 10% of P&G’s nonmanufacturing jobs. P&G has about 57,000 nonmanufacturing employees among its total workforce of about 129,000.

February 23, 2012

"Integrated retail" was the dominant theme as executives discussed Kmart operator Sears Holdings' plans to restore confidence in the company after a fourth quarter 2011 that even the company's chief executive called "unacceptable" during an earnings call Thursday.

HOFFMAN ESTATES, Ill. — "Integrated retail" was the dominant theme as executives discussed Kmart operator Sears Holdings' plans to restore confidence in the company after a fourth quarter 2011 that even the company's chief executive called "unacceptable" during an earnings call Thursday.

February 23, 2012

Procter & Gamble this week launched Tide Pods, a three-chamber liquid unit dose detergent.

CINCINNATI — Procter & Gamble this week launched Tide Pods, a three-chamber liquid unit dose detergent.

Drawing inspiration from innovation in such areas as industrial design and technology, Tide Pods were designed to bring laundry in line with other innovations that have enhanced consumers’ daily lives, P&G said.

February 22, 2012

Recent research conducted by Procter & Gamble’s Gillette reveals that facial hair styling is a common practice undertaken by nearly 40% of men in North America and that this process is critical in defining their look.

Recent research conducted by Procter & Gamble’s Gillette reveals that facial hair styling is a common practice undertaken by nearly 40% of men in North America and that this process is critical in defining their look. Most of these men purchase a myriad of products, including scissors, trimmers and razors, to tackle what they consider to be a complicated and frustrating grooming process. Enter the new Gillette Fusion ProGlide Styler.

February 22, 2012

Johnson & Johnson on Tuesday named Alex Gorsky CEO of the company, effective April 26, the date of the company’s annual meeting of shareholders.

NEW BRUNSWICK, N.J. — Johnson & Johnson on Tuesday named Alex Gorsky CEO of the company, effective April 26, the date of the company’s annual meeting of shareholders. Gorsky also has been nominated for election to the board of directors at the meeting.

February 22, 2012

Publix was one of the highest-ranked brick-and-mortar retailers in a report released Tuesday by the American Customer Satisfaction Index.

ANN ARBOR, Mich. — Publix was one of the highest-ranked brick-and-mortar retailers in a report released Tuesday by the American Customer Satisfaction Index. While supermarkets overall are up 1.3% to 76, Publix remains the grocer to beat, with a score of 84.

Other highly ranked traditional retailers include Costco with an ACSI score of 83 (+1%) and Sam’s Club at 81 (+4%).

February 22, 2012

Supervalu subsidiary Save-A-Lot is expanding its presence in Pennsylvania.

ST. LOUIS — Supervalu subsidiary Save-A-Lot is expanding its presence in Pennsylvania.

The company is slated to open four new stores in Pennsylvania in February and March, bringing the total number of Save-A-Lot stores in the state to 76, the company said.

February 21, 2012

While Walmart maintained the No. 1 position on Interbrand's "U.S. Most Valuable Retail Brands" list for 2012, several other retailers are moving up the ranks.

DAYTON, Ohio — While Walmart maintained the No. 1 position on Interbrand's "U.S. Most Valuable Retail Brands" list for 2012, several other retailers are moving up the ranks.

Although Walmart touts a value that's more than $139 billion, this year also marked a 2% decrease for the big box retailer, Interbrand said. Second on this year's list was Target, which holds a value of $23 billion, a 1% increase over last year.

February 21, 2012

CVS Caremark's MinuteClinic has announced that it will transition from its existing proprietary electronic medical record system to the Allscripts MyWay Electronic Health Record.

CHICAGO and WOONSOCKET, R.I. — CVS Caremark's MinuteClinic has announced that it will transition from its existing proprietary electronic medical record system to the Allscripts MyWay Electronic Health Record.

February 21, 2012

A division of Pfizer is asserting that it incurred nearly $1 billion in damages related to the launch of generic versions of one of its drugs.

MUMBAI, India — A division of Pfizer is asserting that it incurred nearly $1 billion in damages related to the launch of generic versions of one of its drugs.

In a lawsuit filed in the U.S. District Court for the District of New Jersey against Sun Pharmaceutical Industries and Teva Pharmaceutical Industries, Wyeth Pharmaceuticals said it estimated that it suffered damages of $960 million from Sun's and Teva's launches of generic versions of the gastroesophageal reflux disease drug Protonix (pantoprazole).