Content about Economy of the United States

WOONSOCKET, R.I. — The CVS Caremark Charitable Trust announced on Tuesday that $3.3 million in grants has been awarded to 72 nonprofit organizations across the country.

About half of these grants align with CVS Caremark All Kids Can, a program focused on making life easier for children with disabilities and for their families. The other half of the grants will provide support for medical services for the underinsured and uninsured.

MINNEAPOLIS — Supervalu is having difficulty divesting its New-England-based Shaw’s chain for more than $1 billion, the Wall Street Journal reported Tuesday, and the Minnesota grocery conglomerate may be ready to take down its "for sale" sign.

According to the report, Shaw’s has been on the block for several months with no takers. Many bids from private-equity firms actually came in below the asking price.

CINCINNATI — Kroger recalled select packages of pet food sold in some of its retail stores because the products may contain aflatoxin, a naturally occurring toxic chemical byproduct from the growth of a certain fungus.

The recall affects Kroger stores in 17 states, as well as Dillons and Gerbes stores in Kansas and Missouri; Baker's stores in Nebraska; Food 4 Less stores in Nebraska, Illinois and Indiana (Chicago area); and Jay C, Hilander, Owen's, Pay Less and Scott's stores in Illinois and Indiana.

WHAT IT MEANS AND WHY IT’S IMPORTANT — Rite Aid is a glass-half-full/glass-half-empty kind of company. If your glass is half full, you’re looking at the sequential improvements in pharmacy margins and front-end comps, and the excitement around the chain’s still-new Wellness+ loyalty program. If your glass is half empty, you’re making note of the seven straight quarters of script declines and the fact that Rite Aid had to lower sales projections … again. Our glass is half full.

CLEVELAND — ECRM on Thursday announced the launch of a series of reports and a new blog on retail circular ads. The new resources provide a unique perspective on retail promotions from Walmart, Kroger, Walgreens, Safeway, Best Buy, OfficeMax, Aldi and 160 additional retailers in the United States and Canada.

Using ECRM’s trade promotion expertise, these reports and blog entries will enable retailers and suppliers to manage more effective trade spending, ECRM stated.

NEW BRUNSWICK, N.J. — Johnson & Johnson on Wednesday announced that Alex Gorsky, currently worldwide chairman of medical devices and diagnostics, and Sheri McCoy, currently worldwide chairman of pharmaceuticals, have been appointed vice chairmen of the executive committee, joining William Weldon, J&J chairman and CEO, in an expanded Office of the Chairman.

Both appointments are effective Jan. 3.

ST. LOUIS — Supermarket chain Schnuck Markets has appointed a new VP marketing, the company said Thursday.

Robert Howard previously worked for such companies as Kellogg, Kraft, Chiquita Brands, Luxottica Retail, Tyson Foods and Perfetti Van Melle.

At Schnuck’s, Howard will be in charge of advertising, marketing services, consumer research, food education and private brand development. He will report to president and COO Todd Schnuck.

STAMFORD, Conn. — A maker of private-brand products has appointed a new CEO.

Daymon Worldwide said consumer packaged goods veteran Carla Cooper, who has served on the company's board since 2009, will replace co-founder Milton Sender, who will retain his position as chairman of the board.

Prior to joining Daymon Worldwide, Cooper served in senior management positions at such companies as Coca-Cola, PepsiCo, Procter & Gamble and Kellogg.

BENTONVILLE, Ark. — As Walmart’s U.S. stores division looks to execute a broad slate of initiatives in the coming year to recharge domestic growth, it does so under the leadership of a new chief executive and a restructured merchandising organization.



DUBLIN, Ohio — Say goodbye to Kinray, the service-obsessed regional drug wholesaler. But say hello to a more muscular and diversified Cardinal Health.


The wholesale and health services giant announced Nov. 18 it will buy Kinray for $1.3 billion. The buyout, set for completion in early 2011, will be a boon to Cardinal, boosting its customer base to more than 7,000 independent drug stores, extending its reach in the Northeast and adding scale versus its wholesale rivals, McKesson and AmerisourceBergen.



The phrase coined by Sam Walton — “Stack ’em high and let ’em fly!” — is reverberating throughout Walmart again.


The retailer’s back-to-basics strategy is good news for OTC suppliers, because going back to basics at Walmart also means going back to a broader product selection. Between the resumption of Action Alley and a recommitment to assortment, Walmart already has grown its carrying inventory by 4%, and the company plans to grow its inventory at a rate of half the 
expected sales lift.