Content about Economy of the United States

July 28, 2011

Pfizer has entered a definitive agreement to acquire a biopharmaceutical company that focuses on the development of pain treatments.

NEW YORK — Pfizer has entered a definitive agreement to acquire a biopharmaceutical company that focuses on the development of pain treatments.

Pfizer, which currently owns a near 11% stake in Icagen, will acquire the company's remaining 8.3 million shares. The aggregate transaction value, which includes the value of the shares currently owned by Pfizer, is about $56 million.

The two companies entered a discovery, development and commercialization collaboration in 2007, which sought to create potential treatments for pain and related disorders.

July 27, 2011

Publix will offer free diabetes screenings at more than 800 Publix stores this year, the grocer announced Wednesday.

LAKELAND, Fla. — Publix will offer free diabetes screenings at more than 800 Publix stores this year, the grocer announced Wednesday.

July 27, 2011

Dr. Sears Family Essentials has appointed a new VP marketing.

IRVINE, Calif. — Dr. Sears Family Essentials has appointed a new VP marketing.

Roeya Badri Vaughan will be responsible for driving awareness and sales of the company's doctor-formulated, kid-approved line of 100% all-natural snacks, beverages and supplements.

Prior to joining Dr. Sears Family Essentials, Vaughan served as head of product marketing at Arbonne, where she spearheaded the relaunch of its flagship anti-aging skin care line, introduced a comprehensive cosmetics line and developed a breakthrough line of nutrition products.

July 26, 2011

Financial services firm Credit Suisse tabulated total basket increases of 2.7% year over year and 1% month over month for retail.

NEW YORK — Financial services firm Credit Suisse tabulated total basket increases of 2.7% year over year and 1% month over month for retail.

“Our monthly pricing survey in Dallas and Chicago showed that all retailers raised prices on a year-over-year and month-over-month basis with the exception of Jewel [a Supervalu banner operating in Chicago],” Credit Suisse research analyst Ed Kelly wrote in a note published Monday.

July 26, 2011

In an effort to increase the stickiness of Supervalu shoppers, Supervalu president and CEO Craig Herkert on Tuesday spoke of the company’s “hyper-local retailing” concept during a conference call with analysts.

MINNEAPOLIS — In an effort to increase the stickiness of Supervalu shoppers, Supervalu president and CEO Craig Herkert on Tuesday spoke of the company’s “hyper-local retailing” concept during a conference call with analysts.

Supervalu’s commitment to growing its Save-A-Lot discount banner and its participation in First Lady Michelle Obama’s Partnership for a Healthier America campaign were other significant programs Herkert believes will help differentiate the grocer enough to drive trips and increase consumer loyalty.

July 26, 2011

Kroger on Tuesday promoted Donna Giordano to the role of president of the Ralphs division.

CINCINNATI — Kroger on Tuesday promoted Donna Giordano to the role of president of the Ralphs division.

Giordano, 57, has been president of the company's Quality Food Centers division, based in Seattle, since 2002. She succeeds Mike Donnelly, who was recently promoted to SVP merchandising for Kroger.

July 26, 2011

Walmart announced that it is making back-to-school shopping even easier with new store improvements.

BENTONVILLE, Ark. — Walmart announced that it is making back-to-school shopping even easier with new store improvements.

Back-to-school items now are organized, both in stores and online, in one place and categorized by school age group, so families can quickly and easily shop supplies appropriate for their child’s grade, the company reported. Many of the most common school supply list items are located down the center of the back-to-school aisle, allowing families to quickly check these items off their list.

July 25, 2011

It is no secret that consumers have changed their mindset and shopping behavior in the wake of the weakened economy. Today’s shoppers continue to have a greater focus on more cost-effective at-home beauty solutions, and hair coloring is no exception.


It is no secret that consumers have changed their mindset and shopping behavior in the wake of the weakened economy. Today’s shoppers continue to have a greater focus on more cost-effective at-home beauty solutions, and hair coloring is no exception.


Sales of hair coloring rose more than 5% to $1.08 billion at food, drug and mass (excluding Walmart) for the 52 weeks ended June 12, according to SymphonyIRI Group.


During that period, women’s hair coloring rose close to 6% to $943.7 million, while men’s hair coloring rose 1.4% to $140.7 million.


July 25, 2011


With its latest string of initiatives designed to bring it out of a slump that lasted more than a decade, Rite Aid is aiming for “wellness” to do for it what the lower-case “i” did for Apple.



With its latest string of initiatives designed to bring it out of a slump that lasted more than a decade, Rite Aid is aiming for “wellness” to do for it what the lower-case “i” did for Apple.


First, there was the wellness+ loyalty card program. Then, there was the wellness store format, with its team of Wellness Ambassadors. “This new format is all about empowering our customers in their pursuit of wellness,” president and CEO John Standley said in the company’s first quarter 2012 earnings call on June 23.


July 25, 2011

In his July 20 letter to benefit consultants, Walgreens president of pharmacy, health and wellness Kermit Crawford made a direct appeal to plan sponsors to either “select a PBM that includes Walgreens” or consider “direct arrangements with plans currently using Express Scripts, to the extent permitted by their contracts.” The letter also included an attached “template agreement that can be used to implement such direct arrangements where permitted,” for consideration.

WHAT IT MEANS AND WHY IT'S IMPORTANT — In his July 20 letter to benefit consultants, Walgreens president of pharmacy, health and wellness Kermit Crawford made a direct appeal to plan sponsors to either “select a PBM that includes Walgreens” or consider “direct arrangements with plans currently using Express Scripts, to the extent permitted by their contracts.” The letter also included an attached “template agreement that can be used to implement such direct arrangements where permitted,” for consideration.

July 25, 2011

Housed in a historic 1930s property that once was the tallest building in the world, Duane Reade’s newest flagship store at 40 Wall St. in New York — the first co-branded Duane Reade/Walgreens store — offers a glimpse of how retailers will use technology and develop new in-store services to create a much more interactive shopping experience.



It’s like stepping into a time machine and jumping ahead a decade or more.
 Housed in a historic 1930s property that once was the tallest building in the world, Duane Reade’s newest flagship store at 40 Wall St. in New York — the first co-branded Duane Reade/Walgreens store — offers a glimpse of how retailers will use technology and develop new in-store services to create a much more interactive shopping experience.


July 25, 2011


When Rite Aid chairman Mary Sammons accepted the Sheldon W. Fantle Lifetime Achievement Award at the National Association of Chain Drug Stores’ Annual Meeting in Scottsdale, Ariz., in May, it was the culmination of a career that had seen Rite Aid emerge from a period of darkness that had lasted more than a decade.



When Rite Aid chairman Mary Sammons accepted the Sheldon W. Fantle Lifetime Achievement Award at the National Association of Chain Drug Stores’ Annual Meeting in Scottsdale, Ariz., in May, it was the culmination of a career that had seen Rite Aid emerge from a period of darkness that had lasted more than a decade.


Sammons plans to stay on as chairman of Camp Hill, Pa.-based Rite Aid until the company’s annual meeting in June 2012. But when she does hang up the gloves, she will have a lot to look back on.


July 25, 2011


The 19th century British writer William Hickson may have written, “If at first you don’t succeed, try, try, try again,” but he only had half the story. By all means, try again, but don’t do the same thing over and over and expect different results.



The 19th century British writer William Hickson may have written, “If at first you don’t succeed, try, try, try again,” but he only had half the story. By all means, try again, but don’t do the same thing over and over and expect different results.


July 25, 2011

In an exclusive video store tour, Walgreens president of daily living products and solutions Joe Magnacca walks Drug Store News editor Rob Eder and the DSN.TV cameras through the new Duane Reade flagship store at 40 Wall St

In an exclusive video store tour, Walgreens president of daily living products and solutions Joe Magnacca walks Drug Store News editor Rob Eder and the DSN.TV cameras through the new Duane Reade flagship store at 40 Wall St. The first-ever co-branded Duane Reade-Walgreens store opened to the public July 6.


July 25, 2011

Just days after announcing a cooperation agreement with Nielsen, Walmart has entered a new relationship with SymphonyIRI Group, through which the two will develop a solution that supports the retailer's customer-centric initiatives.

CHICAGO — Just days after announcing a cooperation agreement with Nielsen, Walmart has entered a new relationship with SymphonyIRI Group, through which the two will develop a solution that supports the retailer's customer-centric initiatives.

July 25, 2011

If the rumors that surfaced last week about Walmart eyeing Rite Aid for a possible buyout turn out to be true, it would be one of the biggest stories of the year: Walmart would acquire the country’s third-largest drug store chain and more than double its U.S. store count.

WHAT IT MEANS AND WHY IT’S IMPORTANT — If the rumors that surfaced last week about Walmart eyeing Rite Aid for a possible buyout turn out to be true, it would be one of the biggest stories of the year: Walmart would acquire the country’s third-largest drug store chain and more than double its U.S. store count.

(THE NEWS: Report: Walmart may be eyeing Rite Aid. For the full story, click here)

July 21, 2011

Two of the country’s largest pharmacy benefit managers plan to merge in a deal worth $29.1 billion.

ST. LOUIS — Two of the country’s largest pharmacy benefit managers plan to merge in a deal worth $29.1 billion.

St. Louis-based Express Scripts and Franklin Lakes, N.J.-based Medco Health Solutions announced Thursday that their boards had voted unanimously to approve the merger, though the deal still is subject to regulatory review. The deal would create the country’s largest PBM, followed by CVS Caremark.

July 20, 2011

The Partnership for a Healthier America, together with First Lady Michelle Obama, on Wednesday afternoon hosted a press conference announcing that leading grocery retailers have committed to bring healthy, affordable food to nearly 10 million people over the next five years in the form of new and expanded stores in areas that desperately need them.

WASHINGTON — The Partnership for a Healthier America, together with First Lady Michelle Obama, on Wednesday afternoon hosted a press conference announcing that leading grocery retailers have committed to bring healthy, affordable food to nearly 10 million people over the next five years in the form of new and expanded stores in areas that desperately need them.

July 19, 2011

Grocer A&P announced on Monday the launch of a new program, Live Better Baby Club, which is designed to help customers save on their baby-related purchases.

MONTVALE, N.J. — Grocer A&P announced on Monday the launch of a new program, Live Better Baby Club, which is designed to help customers save on their baby-related purchases.

Members of the Live Better Baby Club will receive an automatic 10% discount on baby products every time they shop at A&P, Pathmark, Superfresh, Waldbaum's and The Food Emporium stores.

July 19, 2011

Kmart is putting an emphasis on value in its latest back-to-school campaign.

HOFFMAN ESTATES, Ill. — Kmart is putting an emphasis on value in its latest back-to-school campaign.

The retailer's "Epic Year, Epic You!" campaign seeks to meet customers' evolving BTS needs. In addition to underscoring its convenient buying options — including the buy online, pick up in store option and in-store layaway program — Kmart is offering college students and their parents the ability to reserve purchases by making four payments throughout the summer and allowing students to pick up items at a Kmart store near their campus.

July 18, 2011

Rumors have been circulating that Walmart may be out to buy Rite Aid, though nothing has been confirmed yet, according to published reports.

NEW YORK — Rumors have been circulating that Walmart may be out to buy Rite Aid, though nothing has been confirmed yet, according to published reports.

July 18, 2011

Karen Roberts was named EVP and president of Walmart Realty on Friday, filling a position vacated by the company’s long-time real estate executive Eric Zorn, who retired after a 20-year career.

BENTONVILLE, Ark. — Karen Roberts was named EVP and president of Walmart Realty on Friday, filling a position vacated by the company’s long-time real estate executive Eric Zorn, who retired after a 20-year career.

July 15, 2011

The U.S. subsidiary of Dutch supermarket operator Royal Ahold is hoping to attract local and diverse suppliers to its stores in the markets in which it operates.

CARLISLE, Pa. — The U.S. subsidiary of Dutch supermarket operator Royal Ahold is hoping to attract local and diverse suppliers to its stores in the markets in which it operates.

Ahold USA said Thursday that it had its first annual Local/Diverse Business Opportunity Fair last month. The fair attracted participants from more than 140 companies that were given the opportunity to have their products reviewed by Ahold USA procurement teams for placement in more than 750 stores throughout the Northeast and mid-Atlantic.

July 15, 2011

Valeant Pharmaceuticals has purchased a dermatology subsidiary from Johnson & Johnson, the Canadian drug maker said Friday.

MISSISSAUGA, Ontario — Valeant Pharmaceuticals has purchased a dermatology subsidiary from Johnson & Johnson, the Canadian drug maker said Friday.

The $345 million acquisition of the Ortho Dermatologics division of J&J subsidiary Janssen Pharmaceuticals follows Valeant’s $425 million purchase of Dermik, the skin care business of French drug maker Sanofi. Ortho Dermatologics’ portfolio includes the drugs Retin-A Micro, Ertaczo and Renova, which collectively had sales of about $150 million in 2010.

July 13, 2011

The U.S. subsidiary of Dutch supermarket operator Royal Ahold has appointed Raymond McCall SVP pharmacy and health and beauty care, the company said Wednesday.

CARLISLE, Pa. — The U.S. subsidiary of Dutch supermarket operator Royal Ahold has appointed Raymond McCall SVP pharmacy and health and beauty care, the company said Wednesday.

McCall will be responsible for strategic leadership, direction and business plan design and execution for the pharmacy and health and beauty care teams for Ahold USA, which operates the Giant-Carlisle, Giant-Landover and Stop & Shop chains. He will be based out of the company’s Carlisle, Pa., support office.