Content about Economy of the United States

September 6, 2011

Pfizer has completed its initial cash tender offer for all the shares of drug maker Icagen that it doesn't already own, Pfizer said Tuesday.

NEW YORK — Pfizer has completed its initial cash tender offer for all the shares of drug maker Icagen that it doesn't already own, Pfizer said Tuesday.

Pfizer, which already owns an 11% stake in Icagen, announced Thursday that it would acquire a majority stake in the company. As of Friday, when the initial tender offer period expired, about 4.6 million shares of Icagen had been put up for sale; combined with Pfizer's existing stake, this represents about 64% of the North Carolina-based maker of drugs for pain, epilepsy and inflammation.

September 1, 2011

The CVS Caremark Charitable Trust is helping to support the relief efforts for communities along the East Coast impacted by Hurricane Irene by donating $75,000 to the American Red Cross and distributing supplies to local residents.

WOONSOCKET, R.I. — The CVS Caremark Charitable Trust, the private foundation managed by CVS Caremark, is helping to support the relief efforts for communities along the East Coast impacted by Hurricane Irene by donating $75,000 to the American Red Cross and distributing thousands of dollars worth of supplies to local residents.

September 1, 2011

Country music star Ty Herndon and former NFL player Kevin Turner joined amyotrophic lateral sclerosis patients Thursday evening at Fenway Park to celebrate the success of CVS/pharmacy’s annual in-store fundraising campaign to support the fight against ALS.

WOONSOCKET, R.I. — Country music star Ty Herndon and former NFL player Kevin Turner will join amyotrophic lateral sclerosis patients Thursday evening at Fenway Park to celebrate the success of CVS/pharmacy’s annual in-store fundraising campaign to support the fight against ALS.

The $4.3 million generated by this year's campaign brings the total amount raised by CVS/pharmacy colleagues and customers for ALS research to more than $27 million.

September 1, 2011

Jewel-Osco is looking to support Hunger Action Month by once again launching a campaign that will benefit multiple food banks in Illinois and Indiana.

ITASCA, Ill. — Jewel-Osco is looking to support Hunger Action Month by once again launching a campaign that will benefit multiple food banks in Illinois and Indiana.

September 1, 2011

Retail same-store sales held steady with a 4.9% gain in August as retailers reported mostly solid back-to-school results at the same time sales at department stores were hurt by the impact of Hurricane Irene and weaker spending plans by shoppers, Kantar Retail reported on Thursday.

COLUMBUS, Ohio — Retail same-store sales held steady with a 4.9% gain in August as retailers reported mostly solid back-to-school results at the same time sales at department stores were hurt by the impact of Hurricane Irene and weaker spending plans by shoppers, Kantar Retail reported on Thursday. However, shoppers plan on reducing their spending over the next few months, the company reported.

September 1, 2011

Same-store sales at Rite Aid increased by 2.5% for the month of August compared with August 2010, the retail pharmacy chain said Thursday.

CAMP HILL, Pa. — Same-store sales at Rite Aid increased by 2.5% for the month of August compared with August 2010, the retail pharmacy chain said Thursday.

This included a 2.9% increase in front-end same-store sales — including 1.5% coming from sales related to Hurricane Irene — and a 2.3% increase in pharmacy same-store sales, offset by 132 basis points, due to new generic introductions.

September 1, 2011

Sears and Kmart stores announced that they are supporting emergency relief efforts in a dozen states to help residents recover from Hurricane Irene’s damaging winds and floodwaters.

NEW YORK — Sears and Kmart stores announced that they are supporting emergency relief efforts in a dozen states to help residents recover from Hurricane Irene’s damaging winds and floodwaters.

Sears and Kmart stores will offer discounts on recovery items in stores throughout Connecticut, Delaware, Maine, Maryland, Massachusetts, New Hampshire, New Jersey, New York, North Carolina, Pennsylvania, Rhode Island and Vermont.

Key discounts include:

Kmart:

September 1, 2011

Walmart and Sam's Club are offering flu shot clinics to customers through their partnership with Mollen Immunization Clinics.

BENTONVILLE, Ark. — Walmart and Sam's Club are offering flu shot clinics to customers through their partnership with Mollen Immunization Clinics.

August 30, 2011

Dollar General results showed that low-end consumers have some spending power and a taste for its brand of discount retail.

GOODLETTSVILLE, Tenn. — Dollar General results showed that low-end consumers have some spending power and a taste for its brand of discount retail.

Sales increased 11.2% to $3.58 billion at the company’s 9,641 stores, while same-store sales increased 5.9% and net income increased 25% to $181 million, excluding nonrecurring charges related to the early repayment of debt. On that same basis, earnings per share increased to 52 cents, four cents better than analysts expected and nearly 24% higher than the prior-year profit of 42 cents.

August 29, 2011

The news that CVS Caremark has appointed a new president of CVS/pharmacy, Mark Cosby, is yet one more page in the new chapter for the Woonsocket, R.I.-based powerhouse.

WHAT IT MEANS AND WHY IT'S IMPORTANT — The news that CVS Caremark has appointed a new president of CVS/pharmacy, Mark Cosby, is yet one more page in the new chapter for the Woonsocket, R.I.-based powerhouse.

(THE NEWS: CVS Caremark names new president of CVS/pharmacy. For the full story, click here)

August 29, 2011

By the time sales figures for August are tallied, last week's Hurricane Irene may have flooded more than the East Coast seaboard; she may have flooded pharmacy registers, too.

NEW YORK — By the time sales figures for August are tallied, last week's Hurricane Irene may have flooded more than the East Coast seaboard; she may have flooded pharmacy registers, too.

August 29, 2011

Economic troubles and an interest in saving money are just two of the growing number of reasons why it behooves nontraditional retailers to start thinking about offering fresh food in their stores, especially pharmacy retailers.

WHAT IT MEANS AND WHY IT'S IMPORTANT — Economic troubles and an interest in saving money are just two of the growing number of reasons why it behooves nontraditional retailers to start thinking about offering fresh food in their stores, especially pharmacy retailers.

(THE NEWS: Food trips to nontraditional stores — mass, dollar, drug — on rise. For the full story, click here)

August 26, 2011

Grocer A&P officially opened on Friday its new Superfresh store, featuring a full-service pharmacy and expanded international offerings, in Philadelphia’s Northern Liberties neighborhood.

MONTVALE, N.J. — Grocer A&P officially opened on Friday its new Superfresh store, featuring a full-service pharmacy and expanded international offerings, in Philadelphia’s Northern Liberties neighborhood.

The 51,000-sq.-ft. neighborhood store marks A&P’s first new store in Pennsylvania in more than 10 years, and brings nearly 120 new jobs to the community.

August 26, 2011

Procter & Gamble's Charmin brand broke the Guinness World Record for the world's largest toilet roll.

CINCINNATI — Procter & Gamble's Charmin brand broke the Guinness World Record for the world's largest toilet roll.

Charmin said on Friday, which marks National Toilet Paper Day, that the roll measures more than 8 ft. high and a diameter for more than 9 ft. wide and is made entirely of Charmin toilet tissue. The roll was created at P&G's Paper Products company, located outside of Cape Girardeau, Mo., and transported to P&G's headquarters in Cincinnati for the unveiling.

August 24, 2011

Sears announced that it is inviting Facebook users to support America's military members by voting for the Sears Rebuilding Together affiliate program, which they believe is the most deserving.

HOFFMAN ESTATES, Ill. — Sears announced that it is inviting Facebook users to support America's military members by voting for the Sears Rebuilding Together affiliate program, which they believe is the most deserving.

Voting will take place through Sept. 23, and based on total vote tallies, Sears and Rebuilding Together will award 25 overall grants totaling $250,000 to Rebuilding Together affiliates at platinum, gold, silver and bronze levels.

August 23, 2011

CVS Caremark has announced the results of its previously announced solicitation of consents from the registered holders as of 5 p.m. Eastern time on Aug. 8 of its 6.125% senior notes due Aug. 15, 2016, to terminate the replacement capital covenant.

WOONSOCKET, R.I. — CVS Caremark has announced the results of its previously announced solicitation of consents from the registered holders as of 5 p.m. Eastern time on Aug. 8 of its 6.125% senior notes due Aug. 15, 2016, to terminate the replacement capital covenant — which was entered into on May 25, 2007 — for the benefit of the holders of the notes in connection with the issuance of its 6.302% enhanced capital advantaged preferred securities due 2062.

August 22, 2011

CVS Caremark has appointed former Macy’s executive Mark Cosby as president of CVS/pharmacy, effective Oct. 1.

WOONSOCKET, R.I. — CVS Caremark has appointed former Macy’s executive Mark Cosby as president of CVS/pharmacy, effective Oct. 1.

Cosby most recently served as Macy’s president of stores, where he was responsible for all Macy's store operations and support functions nationwide.

August 22, 2011

H-E-B has acquired three Texas-based Albertsons LLC stores.

SAN ANTONIO — H-E-B has acquired three Texas-based Albertsons LLC stores.

August 22, 2011

Flu shots are available at every Rite Aid store around the country, the retail pharmacy chain said Monday.

CAMP HILL, Pa. — Flu shots are available at every Rite Aid store around the country, the retail pharmacy chain said Monday.

Rite Aid said more than 11,500 pharmacists are on hand at its 4,700 stores to administer flu shots. Customers who receive the $27.99 shots at Rite Aid will get a coupon booklet with more than $100 in savings on health and wellness, beauty and household products. In addition, Wellness+ members will earn 25 reward points.

August 18, 2011

Kmart comparable-store sales were flat, and Sears U.S. sales declined by 1.2% during second quarter 2011, according to an earnings report released Thursday.

HOFFMAN ESTATES, Ill. — Kmart comparable-store sales were flat, and Sears U.S. sales declined by 1.2% during second quarter 2011, according to an earnings report released Thursday.

August 17, 2011

Privately owned Albertsons LLC, which operates more than 200 pharmacies across six states, has named Stewart Edington VP pharmacy operations.

BOISE — Privately owned Albertsons LLC, which operates more than 200 pharmacies across six states, has named Stewart Edington VP pharmacy operations.

Edington has been with Albertsons stores since 2003, when he was hired as a pharmacy manager and worked in the company’s Phoenix stores. In 2006, Edington joined Albertsons LLC as the division pharmacy manager for the company's Florida stores, a position he has held for the last five years.

August 16, 2011

Sears Holdings announced Tuesday that Robert Schriesheim will join the company as EVP and CFO.

HOFFMAN ESTATES, Ill. — Sears Holdings announced Tuesday that Robert Schriesheim will join the company as EVP and CFO. Schriesheim, who starts with the company immediately as EVP, will assume his responsibilities as CFO, effective Aug. 22.

Schriesheim, 51, most recently was CFO for Hewitt Associates, leading the company's global financial and administrative roles until its merger with Aon.

August 16, 2011

Despite the absence of top line growth at Walmart’s U.S. stores division, second-quarter earnings grew 12.4% to $1.09 and came in a penny ahead of analysts’ estimates, which was enough for the company to narrow and increase the range of its full-year profit forecast.

BENTONVILLE, Ark. — Despite the absence of top line growth at Walmart’s U.S. stores division, second-quarter earnings grew 12.4% to $1.09 and came in a penny ahead of analysts’ estimates, which was enough for the company to narrow and increase the range of its full-year profit forecast.

August 15, 2011

Senior leadership within Walmart’s merchandising organization continues to undergo a transformation as the retailer’s chief merchandising officer Duncan Mac Naughton on Friday announced another round of personnel moves.

BENTONVILLE, Ark. — Senior leadership within Walmart’s merchandising organization continues to undergo a transformation as the retailer’s chief merchandising officer Duncan Mac Naughton on Friday announced another round of personnel moves.

August 15, 2011

Supervalu on Monday announced that flu vaccination services now are available across all of its pharmacy locations.

EDEN PRAIRIE, Minn. — Supervalu on Monday announced that flu vaccination services now are available across all of its pharmacy locations.

Supervalu pharmacies operate in 25 states under 10 retail brands, including Acme Sav-on Pharmacy, Albertsons Sav-on Pharmacy, Albertsons Osco Pharmacy, Cub Pharmacy, Farm Fresh Pharmacy, Jewel-Osco Pharmacy, Shaw’s Osco Pharmacy, Shop ‘n Save Pharmacy, Shop ‘n Save Osco Pharmacy and Shoppers Pharmacy.