Content about Economy of the United States

December 18, 2013

Winning with ability and agility in the age of healthcare retail-ization. That’s what it is all about for CVS Caremark, and that was a central theme of Wednesday’s timely Analyst Day meeting in New York City.

NEW YORK — Winning with ability and agility in the age of healthcare retail-ization. That’s what it is all about for CVS Caremark, and that was a central theme of Wednesday’s timely Analyst Day meeting in New York City, held just weeks before the New Year when health reform will begin to significantly alter the healthcare landscape.

December 18, 2013

Kroger announced the promotion of Mark Tuffin to SVP retail divisions. He succeeds Michael Ellis, who will become Kroger's president and chief operating officer on Jan. 1.

CINCINNATI — Kroger on Tuesday announced the promotion of Mark Tuffin to SVP retail divisions. He succeeds Michael Ellis, who will become Kroger's president and chief operating officer on Jan. 1.

"Mark is an exceptional leader with an extensive knowledge of the grocery industry," Ellis said. "He has made significant contributions to our company and industry, while always championing our Customer 1st strategy. We look forward to Mark's leadership in this senior role as we continue to accelerate Kroger's growth."

December 18, 2013

Mylan has acquired rights to an experimental respiratory drug made by Pfizer, Mylan said.

PITTSBURGH — Mylan has acquired rights to an experimental respiratory drug made by Pfizer, Mylan said Wednesday.

The drug maker said it had bought exclusive worldwide development, manufacturing and commercialization rights to the drug, which was not named, but was described as a long-acting muscarinic antagonist about to enter phase-2b, or mid-stage, clinical trials. Mylan said it would develop the drug into combination therapies and that they would use a multidose dry powder inhaler technology, also licensed from Pfizer.

December 18, 2013

Procter & Gamble's Olay unit has introduced two new additions to its White Radiance collection of products, the company said.

DUBAI, United Arab Emirates — Procter & Gamble's Olay unit has introduced two new additions to its White Radiance collection of products, the company said.

The two products, Intensive Fairness Serum and Intensive Fairness Cream, use cellular-level technology and also contain a ultraviolet light blocker with an increased SPF 50 formula.

December 18, 2013

Perrigo has finalized its acquisition of Elan Corp., Perrigo said Wednesday.

DUBLIN — Perrigo has finalized its acquisition of Elan Corp., Perrigo said Wednesday.

The Michigan-based maker of branded and generic prescription and OTC drugs announced last week that the Irish High Court had approved its $8.6 billion deal to buy Ireland-based Elan, the last regulatory hurdle it had to clear before finalizing the deal, which it announced in July.

December 18, 2013

As consumers are reaching the final days to squeeze in their holiday shopping, Target has announced some last-minute deals.

MINNEAPOLIS — As consumers are reaching the final days to squeeze in their holiday shopping, Target has announced some last-minute deals.

Guests using Cartwheel, the retailer's unique savings program, can take advantage of a one-day sale on Dec. 19 when around 40 great gift items — ranging from toys to cookware — will have special offers with discounts ranging from 10% to 60% off. Cartwheel has gained more than 1 million new users this season alone, putting the number of guests signed up for the program at 4 million.

December 17, 2013

Sam's Club is offering some extra holiday cheer for shoppers who are looking to buy last-minute gifts and save some money in the process.

BENTONVILLE, Ark. — Sam's Club is offering some extra holiday cheer for shoppers who are looking to buy last-minute gifts and, perhaps, save some money in the process. The company is inviting the public to a three-day Holiday Open House from Friday, Dec. 20 to Sunday, Dec. 22.

The event allows shoppers to take advantage of lowered prices on the season's hot items, like smartphones and notebooks, without paying non-member upcharges.

December 16, 2013

Mistic, a maker of electronic cigarettes, announced that Walmart has added Mistic's Ultimate Gift Set to store shelves across the nation.

CHARLOTTE, N.C. — Mistic, a maker of electronic cigarettes, on Monday announced that Walmart has added Mistic's Ultimate Gift Set to store shelves across the nation.  

December 16, 2013

More Americans now say they are loosening the purse strings in advance of the holiday season, and fewer say they are tightening their belts, according to a recent survey.

NEW YORK — More Americans now say they are loosening the purse strings in advance of the holiday season, and fewer say they are tightening their belts, according to a recent Citi national survey released Monday. Only 35% said they would be spending less than last year, reflecting the lowest level of holiday budget cutbacks since the financial crisis. As many as 63% of Americans plan to spend more (11%) or the same (52%) on holiday shopping this year.

December 13, 2013

Club retailers like Costco and Sam's Club may have some competition from Amazon.com, according to published reports.

NEW YORK — Club retailers like Costco and Sam's Club may have some competition from Amazon.com, according to published reports.

USA Today reported Thursday that the Seattle-based online retailer was creating a new business called Pantry that would allow members of its Amazon Prime premium service to buy consumer packaged goods in large quantities in a box of a pre-set size. Members will be able to put in as many items as the box can fit, up to a certain weight limit, and Amazon will ship the box for a small fee, as long as everything fits and isn't too heavy.

December 12, 2013

Some orders placed on Amazon's online wine store will be eligible for 1-cent shipping, the company said Thursday.

SEATTLE — Some orders placed on Amazon's online wine store will be eligible for 1-cent shipping, the company said Thursday.

Amazon said more than 100 wine sellers had opted into the new program and would offer more than 1,000 labels of wine under it, and the company plans to increase the selection in the near future.

December 12, 2013

After more than 46 years of service, Publix Super Markets Miami division VP Bill Fauerbach has announced his decision to retire at the end of March 2014.

LAKELAND, Fla. — After more than 46 years of service, Publix Super Markets Miami division VP Bill Fauerbach has announced his decision to retire at the end of March 2014.

“Bill helped grow our culture and build a solid foundation on which the Miami division will continue to grow. We thank him for his many contributions, and he will be missed by us all,” said Publix CEO Ed Crenshaw.

With this retirement, Publix announced the promotion of Kevin Murphy to Miami division VP, effective April 1.

December 12, 2013

Consumers spent a majority of last week recovering from “Black Weekend” holiday shopping.

CHICAGO — Consumers spent a majority of last week recovering from “Black Weekend” holiday shopping. ShopperTrak on Wednesday reported that for the week of Dec. 2 to Dec. 8, GAFO (general merchandise, apparel, furniture and other products) brick-and-mortar retail sales decreased 2.9% compared to the same time last year. Last week’s retail shopper traffic decreased 21.6% compared to the same time period in 2012.

December 11, 2013

Costco Wholesale Corp. had sales of $24.47 billion in first quarter 2014, the club retailer said.

ISSAQUAH, Wash. — Costco Wholesale Corp. had sales of $24.47 billion in first quarter 2014, the club retailer said.

The results, announced Wednesday, were an increase from the $23.20 billion reported in first quarter 2013 and produced a profit of $425 million, compared with the $416 profit last year.

Same-store sales for the quarter increased by 3%, including 3% in the United States and 1% in stores abroad.

While profits increased over the last quarter, the company's earnings per share of 96 cents fell short of the $1.03 expected by analysts.

December 11, 2013

Jewel-Osco, which is owned by New Albertsons, has completed 18 remodeled stores, which feature an expanded variety of the fresh produce, meat and seafood.

ITASCA, Ill. — Jewel-Osco, which is owned by New Albertsons, has completed 18 remodeled stores, which feature an expanded variety of the fresh produce, meat and seafood.  

December 11, 2013

Employees who contribute to health savings accounts generally become more engaged in managing their health after enrolling, according to a survey conducted by Buck Consultants.

NEW YORK — Employees who contribute to health savings accounts generally become more engaged in managing their health after enrolling, according to a survey conducted by Buck Consultants, a Xerox Company.

For example, 51% of respondents set aside more money for potential medical costs than before they had HSAs. As many as 29% have more discussions with their doctors about the cost of care and 13% more actively manage their chronic disease.

December 10, 2013

CVS Caremark and Cardinal Health announced on Tuesday the signing of an agreement to form the largest generic sourcing entity in the United States.

DUBLIN, Ohio and WOONSOCKET, R.I. — CVS Caremark and Cardinal Health announced on Tuesday the signing of an agreement to form the largest generic sourcing entity in the United States.

Both companies are contributing their sourcing and supply chain expertise to this 50/50 joint venture and are committing to source generic drugs through it. The companies separately announced a three-year extension through June 2019 of Cardinal Health's existing pharmaceutical distribution agreements with CVS Caremark.

December 10, 2013

David Cheesewright has been promoted to president and CEO of Walmart International, the company's second-largest operating segment.

Currently president and CEO of Walmart's Europe, Middle East and Africa (EMEA) and Canada region, David Cheesewright has been promoted to president and CEO of Walmart International, the company's second-largest operating segment.

Cheesewright will report to Doug McMillon, who was tapped to succeed Mike Duke as the company's president and CEO. Both assume their new roles Feb. 1, 2014. Cheesewright's successor will be named at a later date.

December 9, 2013

Cardinal Health ranked No. 1 in Gartner's fifth annual Healthcare Supply Chain Top 25 ranking. Not including health systems, the top 10 included McKesson at No. 5, BD (6), Johnson and Johnson (7), Walgreens (8) and CVS Caremark (9).

STAMFORD, Conn. — Cardinal Health ranked No. 1 in Gartner's fifth annual Healthcare Supply Chain Top 25 ranking. Not including health systems, the top 10 included McKesson at No. 5, BD (6), Johnson and Johnson (7), Walgreens (8) and CVS Caremark (9). 

The Healthcare Supply Chain ranking identifies organizations leading the way in transforming the healthcare value chain to meet new revenue challenges through enhanced service and lower costs with an increasing focus on improved patient outcomes. 

December 6, 2013

Sears Holdings is spinning off its clothing business, the parent company of Kmart said.

HOFFMAN ESTATES, Ill. – Sears Holdings is spinning off its clothing business, the parent company of Kmart said Friday.

Sears said it had filed with the Securities and Exchange Commission to spin off Lands' End. The company hopes that separating the management of Sears Holdings and Lands' end will make it easier for the latter to pursue opportunities on its own.

December 6, 2013

Holiday shopping got a big boost during Thanksgiving weekend, and most of the growth came from shopping on Thanksgiving itself rather than Black Friday, according to a new report.

ATLANTA — Holiday shopping got a big boost during Thanksgiving weekend, and most of the growth came from shopping on Thanksgiving itself rather than Black Friday, according to a new report.

First Data Corp., a payment processing company, released the SpendTrend report Friday, based on its tracking of same-store consumer spending by credit, signature debit, PIN debt, EBT, closed-loop prepaid cards and checks. The report found 9% growth over last year, compared with last year's 5.6% growth over 2011; by contrast, Black Friday spending growth was 3.4%.

December 6, 2013

Tide Pods, a line of laundry detergent capsules from Proctor & Gamble, has announced a new partnership with acclaimed clothing designer and Council of Fashion Designers of America member Tracy Reese.

CINCINNATI — Tide Pods, a line of laundry detergent capsules from Proctor & Gamble, has announced a new partnership with acclaimed clothing designer and Council of Fashion Designers of America member Tracy Reese.

December 5, 2013

Costco's sales increased by 5% during first quarter 2014, which ended on Nov. 24, the club retailer said Thursday.

ISSAQUAH, Wash. — Costco Wholesale Corp.'s sales increased by 5% during first quarter 2014, which ended on Nov. 24, the club retailer said Thursday.

The company reported sales of $24.47 billion during the quarter, compared with $23.2 billion in first quarter 2013. For the month of November, sales were $8.78 billion, a 5% increase over the $8.4 billion reported in November 2012.

December 5, 2013

Dollar General on Thursday reported $4.4 billion in sales, up 10.5%, for the company's third quarter ended Nov. 1.

GOODLETTSVILLE, Tenn. — Dollar General on Thursday reported $4.4 billion in sales, up 10.5%, for the company's third quarter ended Nov. 1. Same-store sales increased 4.4%, with increases in both customer traffic and average transaction value, the dollar store operator reported.

December 5, 2013

The Environmental Protection Agency has recognized Target for its efforts to reduce its carbon emissions, the agency said.

NEW YORK — The Environmental Protection Agency has recognized Target for its efforts to reduce its carbon emissions, the agency said.

According to the EPA, Target's technology center engineering team singlehandedly reduced the company's carbon emissions by 18,000 tons since 2006 and is committed to having 75% of Target buildings certified by the agency's Energy Star program by 2016.