Content about Economy of the United States

July 5, 2011

Pfizer defended a drug used for smoking cessation Monday following reports of a Canadian study that found it raised the risk of heart problems.

NEW YORK — Pfizer defended a drug used for smoking cessation Monday following reports of a Canadian study that found it raised the risk of heart problems.

The 8,216-patient study of Chantix (varenicline), published in the Canadian Medical Association Journal, found that of the 4,908 patients who received Chantix, 52 had an increased risk of serious heart problems, with similar risks appearing in 27-of-the-3,308 patients who took placebo.

July 5, 2011

McNeil Consumer Healthcare’s foray into heat patches has proven a success. Tylenol Precise is the No. 2 brand across heat and ice packs, falling in behind Pfizer’s ThermaCare.

NEW YORK — McNeil Consumer Healthcare’s foray into heat patches has proven a success. Tylenol Precise is the No. 2 brand across heat and ice packs, falling in behind Pfizer’s ThermaCare. Within its first year on the shelf, Tylenol Precise has generated $6.1 million in sales for the 52 weeks ended April 17, according to SymphonyIRI Group data across food, drug and mass (excluding Walmart). 


The Tylenol Precise patches retail for around $7.99.

July 5, 2011

ProPhase Labs on Tuesday announced that it received a letter from the NASDAQ Stock Market indicating that the company no longer is in compliance with NASDAQ listing rules because the closing bid price per share of its common stock has dropped below $1 per share for 30 consecutive trading days.

DOYLESTOWN, Pa. — ProPhase Labs on Tuesday announced that it received a letter from the NASDAQ Stock Market indicating that the company no longer is in compliance with NASDAQ listing rules because the closing bid price per share of its common stock has dropped below $1 per share for 30 consecutive trading days.

ProPhase will have until Dec. 27 to push its stock price above $1 for a minimum of 10 consecutive trading days to regain compliance or risk being delisted.

June 30, 2011

Marsh Supermarkets has created a new executive position that will focus on merchandising support, including pricing, space management, corporate brands and business intelligence.

INDIANAPOLIS — Marsh Supermarkets has created a new executive position that will focus on merchandising support, including pricing, space management, corporate brands and business intelligence.

The retailer said that retail veteran David Siegel will be Marsh's SVP merchandising and marketing strategic initiatives.

Siegel joins the company from Schenectady, N.Y.-based Price Chopper.

Marsh operates 72 Marsh Supermarkets, 3 O'Malia's Food Markets and 22 MainStreet Market stores in Indiana and Ohio.

June 30, 2011

Same-store sales at Rite Aid increased by 1.8% in June, the retail pharmacy chain said Thursday.

CAMP HILL, Pa. — Same-store sales at Rite Aid increased by 1.8% in June, the retail pharmacy chain said Thursday.

During the four-week period ended June 25, front-end sales were up 1.5% over the same period last year, while pharmacy sales increased by 1.9%, including a reduction of about 163 basis points due to new introductions of generic drugs.

Total drug store sales for the month increased 1% to $1.93 billion, compared with $1.91 billion in June 2010.

June 30, 2011

Supervalu on Thursday announced that Matthew Rubel has unanimously been approved to continue as a member of the company’s board.

MINNEAPOLIS — Supervalu on Thursday announced that Matthew Rubel has unanimously been approved to continue as a member of the company’s board.

Rubel had previously resigned from the position of chairman, president and CEO of Collective Brands, and, consistent with Supervalu’s governance principles, submitted his offer of resignation as a member of the board.

On June 28, the grocer’s board of directors unanimously rejected his offer of resignation.

June 29, 2011

As part of its commitment to greener operations, Supervalu announced plans to transition 40 Albertsons banner stores to zero-waste operations before the end of the fiscal year on Feb. 29, 2012.

EDEN PRAIRIE, Minn. — As part of its commitment to greener operations, Supervalu announced plans to transition 40 Albertsons banner stores to zero-waste operations before the end of the fiscal year on Feb. 29, 2012.

Last November, two Albertsons stores achieved zero-waste classification, which was highlighted in Supervalu's corporate responsibility report that was released Wednesday.

Zero-waste classification is achieved when stores divert at least 90% of all waste from landfills, Supervalu said.

June 29, 2011

Walmart announced that it will offer customers savings of 10 cents a gallon on all fuel, gas and diesel at participating Murphy USA and Walmart gas stations. The reduction is part of a 90-day Rollback program.

BENTONVILLE, Ark. — Walmart announced that it will offer customers savings of 10 cents a gallon on all fuel, gas and diesel at participating Murphy USA and Walmart gas stations. The reduction is part of a 90-day Rollback program.

The program will be implemented across 18 states.

June 27, 2011

Prices for the top 10 most prescribed branded diabetes drugs have risen faster at Walmart and Kmart than at other retailers, according to a published report.

NEW YORK — Prices for the top 10 most prescribed branded diabetes drugs have risen faster at Walmart and Kmart than at other retailers, according to a published report.

Citing a recent study by researchers at the Mount Sinai Medical Center in New York, Reuters reported that Walmart raised prices for branded diabetes drugs by 32% between 2008 and 2010, compared with 21% for the industry as a whole — including independent and chain retail pharmacies and mail-order companies. Kmart raised prices by 35%.

June 27, 2011

Walmart Canada has agreed to assume leasehold interests from Target Canada in up to 39 sites that currently are operated by Zellers.

MISSISSAUGA, Ontario — Walmart Canada has agreed to assume leasehold interests from Target Canada in up to 39 sites that currently are operated by Zellers.

Specific locations will be identified later this fall. Terms of this transaction were not disclosed.

The sites are among up to 220 possible sites whose leasehold interests Target is acquiring as part of a real-estate transaction announced in January. In May, Target selected its initial group of 105 sites, the vast majority of which will become Target stores.

June 26, 2011

More and more success at retail is contingent upon delivering what the consumer wants, when she wants it, where she wants it and at the price she wants it.

BOSTON — More and more success at retail is contingent upon delivering what the consumer wants, when she wants it, where she wants it and at the price she wants it.

According to a panel of consumer manufacturers and retail executives from Navarro Discount Pharmacies and Rite Aid, she wants fresh, health and wellness all neatly packaged with a value-priced bow. And she wants it in the drug channel.

June 23, 2011

Walmart announced that it has launched a $25 million giving campaign aimed at filling the gaps created when schools close for the summer through its charitable arm, the Walmart Foundation.

WASHINGTON — Walmart announced that it has launched a $25 million giving campaign aimed at filling the gaps created when schools close for the summer through its charitable arm, the Walmart Foundation.

Funding to more than 350 local nonprofit organizations will help expand nutrition, learning and employment services for elementary, middle and high school students throughout the 2011 summer months, the company reported.

Walmart said it would address the achievement gap between higher- and lower-income youth by focusing on three key areas:

June 23, 2011

Kimberly-Clark has teamed up with a mobile shopping application for a promotion at Walmart stores.

DALLAS — Kimberly-Clark has teamed up with a mobile shopping application for a promotion at Walmart stores.

As part of Kimberly-Clark's integrated commercial program linked to the upcoming release of Disney and Pixar's "Cars 2," Kimberly-Clark said it will use CheckPoints' app to drive shoppers to Walmart stores and engage them with Kimberly-Clark brands, such as Kleenex, Scott and more.

June 23, 2011

Sales may have been flat overall, but a closer look revealed there was a lot to be positive about in Rite Aid’s fiscal first quarter 2012 earnings, as the company managed significant expense improvement and stronger same-store sales growth. Bottom line: Rite Aid narrowed its losses considerably, and that ain’t all expense control.

CAMP HILL, Pa. — Sales may have been flat overall, but a closer look revealed there was a lot to be positive about in Rite Aid’s fiscal first quarter 2012 earnings, as the company managed significant expense improvement and stronger same-store sales growth. Bottom line: Rite Aid narrowed its losses considerably, and that ain’t all expense control.

June 22, 2011

Diabetica Research Solutions has expanded distribution of its DRSI ReStore! Energy product to Publix stores that operate in-store pharmacies.

BOCA RATON, Fla. — Diabetica Research Solutions has expanded distribution of its DRSI ReStore! Energy product to Publix stores that operate in-store pharmacies.

DRSI said its diabetes energy formula will be found in the diabetes care section of Publix.

DRSI ReStore! Energy currently is available at Duane Reade, Navarro Discount Pharmacy and CVS.com.

June 22, 2011

The Global Market Development Center’s General Merchandise Marketing Conference held earlier this month provided for almost 11,000 appointments, in addition to 169 senior executive conferences that were piloted at the GM event, the association reported Tuesday.

ORLANDO, Fla. — The Global Market Development Center’s General Merchandise Marketing Conference held here earlier this month provided for almost 11,000 appointments, in addition to 169 senior executive conferences that were piloted at the GM event, the association reported Tuesday.

June 22, 2011

After Walgreens made its contract dispute with Express Scripts public on Tuesday morning, the pharmacy benefit manager stated it is open to continued negotiations with Walgreens.

ST. LOUIS — After Walgreens made its contract dispute with Express Scripts public on Tuesday morning, the pharmacy benefit manager stated it is open to continued negotiations with Walgreens.

June 21, 2011

CINCINNATI — Kroger has released its fifth annual sustainability report.

Some of the highlights noted in the report include:

  • Kroger stores reduced overall energy consumption by 30% since 2000;

  • Company-wide, including all facilities, Kroger has saved more than 2.2 billion kilowatt hours;

  • Kroger completed its first wind energy project. Two wind turbines installed at Turkey Hill Dairy in Lancaster, Pa., will supply 25% of the dairy's annual electricity needs;

June 21, 2011

Soon after reporting double-digit earnings per share growth Tuesday morning, Walgreens announced it would forego as much as $5.3 billion in annual sales, representing some 7% of the company’s business and 90 million prescriptions, as it walks away from its relationship with pharmacy benefit manager Express Scripts.

DEERFIELD, Ill. — Soon after reporting double-digit earnings per share growth Tuesday morning, Walgreens announced it would forego as much as $5.3 billion in annual sales, representing some 7% of the company’s business and 90 million prescriptions, as it walks away from its relationship with pharmacy benefit manager Express Scripts.

Wall Street reacted badly to the news — sales of Walgreens’ stock were down more than 6% to $42 and change in mid-morning trading.

June 20, 2011

The new small-format Walmart Express stores that opened earlier this month are an interesting concept with intriguing growth potential. But for the time being, and possibly for much longer, competitors need not concern themselves with the small stores.



BENTONVILLE, Ark. — The new small-format Walmart Express stores that opened earlier this month are an interesting concept with intriguing growth potential. But for the time being, and possibly for much longer, competitors need not concern themselves with the small stores.


At least that’s what Walmart wants the marketplace to believe following the opening of the first few of the 15,000-sq.-ft. stores earlier this month in northwest Arkansas.


June 20, 2011

The energy shot market is dominated by Living Essentials, which fields the most recognized shot — 5-Hour Energy, the shot you take to avoid that “2:30 feeling.”

NEW YORK — The energy shot market is dominated by Living Essentials, which fields the most recognized shot — 5-Hour Energy, the shot you take to avoid that “2:30 feeling.” With an annualized $58.3 million in incremental sales across food, drug and mass (excluding Walmart), retail sales are certainly feeling a little caffeinated. 


June 20, 2011

Kroger announced that it has named Michael Donnelly as SVP merchandising. Donnelly has been president of the company's Ralphs division, based in Los Angeles, since August 2007.

CINCINNATI — Kroger announced that it has named Michael Donnelly as SVP merchandising. Donnelly has been president of the company's Ralphs division, based in Los Angeles, since August 2007.

In his new position, Donnelly will lead all merchandising and procurement for Kroger.

June 20, 2011

The booming healthcare market, which is expected to reach 19.6% of gross domestic product by 2019, is driving a surge of activity from companies looking to develop new products and services to bolster profits and create more convenient patient care, according to a new report by PricewaterhouseCoopers’ Health Research Institute. 


NEW YORK — The booming healthcare market, which is expected to reach 19.6% of gross domestic product by 2019, is driving a surge of activity from companies looking to develop new products and services to bolster profits and create more convenient patient care, according to a new report by PricewaterhouseCoopers’ Health Research Institute. 


June 17, 2011

The fate of beauty initiatives at JCPenney, along with a lot of the company's other plans, just became a lot less clear following the hiring of former Apple executive Ron Johnson as CEO.

WHAT IT MEANS AND WHY IT'S IMPORTANT — The fate of beauty initiatives at JCPenney, along with a lot of the company's other plans, just became a lot less clear following the hiring of former Apple executive Ron Johnson as CEO.

(THE NEWS: Ex-Apple exec fulfills dream, becomes JCPenney CEO. For the full story, click here)

June 17, 2011

Walmart is moving forward with what could be characterized as a rollout of its Neighborhood Market format nearly 13 years after the first unit opened in fall 1998. Just don’t call it a Neighborhood Market.

BENTONVILLE, Ark. — Walmart is moving forward with what could be characterized as a rollout of its Neighborhood Market format nearly 13 years after the first unit opened in fall 1998. Just don’t call it a Neighborhood Market.