Content about Finance

October 13, 2011

Sales at Safeway are looking up thanks in large part to fuel gains, but the grocer's loyalty card program is expected to continue driving that sales momentum into next year as the company rolls out its Just for U digital marketing platform and explores health-and-wellness initiatives.

PLEASANTON, Calif. — Sales at Safeway are looking up thanks in large part to fuel gains, but the grocer's loyalty card program is expected to continue driving that sales momentum into next year as the company rolls out its Just for U digital marketing platform and explores health-and-wellness initiatives.

October 13, 2011

The board of directors of Walgreens on Wednesday declared a regular quarterly dividend of 22.5 cents per share, a 28.6% increase over the year-ago dividend.

DEERFIELD, Ill. — The board of directors of Walgreens on Wednesday declared a regular quarterly dividend of 22.5 cents per share, a 28.6% increase over the year-ago dividend. The dividend is payable Dec. 12 to shareholders of record Nov. 14.

October 11, 2011

Private-label penetration at CVS/pharmacy locations is expected to grow to more than 20% in the next two to three years, and to help drive that growth, the retailer has developed its new Just the Basics line of store-brand products.


Private-label penetration at CVS/pharmacy locations is expected to grow to more than 20% in the next two to three years, and to help drive that growth, the retailer has developed its new Just the Basics line of store-brand products.


Officially launched in February 2011, the brand represents a functional, value-
priced, smart-simplicity positioning. It is comprised of nearly 100 items, and there are plans to expand the line going forward.


October 7, 2011

Clorox announced that EVP and CFO Dan Heinrich, who has served as financial chief of the company since 2003, will retire Nov. 16.

OAKLAND, Calif. — Clorox announced that EVP and CFO Dan Heinrich, who has served as financial chief of the company since 2003, will retire Nov. 16.

In addition to his current role leading all aspects of the finance, business development and investor relations functions and corporate administrative services, during his career with Clorox, Heinrich also oversaw the corporate communications, risk management and IT functions. Heinrich, who joined the company in 2001 and controller, also is a member of the company's executive committee.

September 30, 2011

Retailers and their customers will save billions of dollars when new Federal Reserve regulations cutting debit card swipe fees roughly in half take effect this weekend, the National Retail Federation said.

WASHINGTON — Retailers and their customers will save billions of dollars when new Federal Reserve regulations cutting debit card swipe fees roughly in half take effect this weekend, the National Retail Federation said.

September 28, 2011

Nestlé EVP and CFO Jim Singh will retire in March 2012 after 35 years with the company.

VEVEY, Switzerland — Nestlé EVP and CFO Jim Singh will retire in March 2012 after 35 years with the company.

Replacing Singh is Wan Ling Martello, who currently serves as Walmart's EVP global e-commerce of emerging markets. She will succeed Singh on April 1, 2012.

September 22, 2011

Hershey's president and CEO, J.P. Bilbrey, announced changes to the chocolate giant's global leadership team.

HERSHEY, Pa. — Hershey's president and CEO, J.P. Bilbrey, announced changes to the chocolate giant's global leadership team.

Bilbrey said that Bert Alfonso has been named EVP, CFO and chief administrative officer; Michele Buck has been named SVP and chief growth officer; and Mike Wege has been named SVP and chief commercial officer. The executives joined Hershey in 2006, 2005 and 2002, respectively.

September 22, 2011

Rite Aid increased sales and narrowed losses in second quarter 2012 as its Wellness+ loyalty card program continued to grow and its new Wellness store format saw continued expansion.

CAMP HILL, Pa. — Rite Aid increased sales and narrowed losses in second quarter 2012 as its Wellness+ loyalty card program continued to grow and its new Wellness store format saw continued expansion.

The company reported sales of $6.3 billion, a 1.8% increase over second quarter 2011's $6.2 billion. Losses were $92.3 million, compared with $197 million in the same period last year.

September 21, 2011

In the wake of several surveys projecting how shoppers will spend this holiday season, the latest study from ShopperTrak expects national retail sales to increase 3% during November and December, while foot traffic will drop 2.2%.

CHICAGO — In the wake of several surveys projecting how shoppers will spend this holiday season, the latest study from ShopperTrak expects national retail sales to increase 3% during November and December, while foot traffic will drop 2.2%.

ShopperTrak said its 3% holiday sales increase prediction follows 19 consecutive months of year-over-year U.S. retail sales growth, adding that the expected increase is moderate when compared with the 2010 holiday season's 4.1% sales increase over 2009.

September 16, 2011

Navarro Discount Pharmacy, a Hispanic-owned pharmacy chain and an MBF Healthcare portfolio company, has expanded its management team by naming Luis Mier as CFO and promoting Manuel Leon to VP wholesale and OTC programs.

MIAMI — Navarro Discount Pharmacy, a Hispanic-owned pharmacy chain and an MBF Healthcare portfolio company, has expanded its management team by naming Luis Mier as CFO and promoting Manuel Leon to VP wholesale and OTC programs.

September 15, 2011

Big Y is saying "so long," to its self-service checkout lanes at its stores, according to published reports.

SPRINGFIELD, Mass. — Big Y is saying "so long," to its self-service checkout lanes at its stores, according to published reports.

The New England-based retailer is slated to phase out self-serve lanes at all 61 locations.

September 14, 2011

Ahold has announced the appointment of Jeff Carr as EVP and CFO, starting Nov. 12.

AMSTERDAM — Ahold has announced the appointment of Jeff Carr as EVP and CFO, starting Nov. 12.

Carr will be a member of Ahold’s corporate executive board, pending shareholder approval. He will succeed Kimberly Ross, who is leaving Ahold in November to become CFO of Avon.

Carr will be responsible for Ahold’s finance, real estate and IT functions. He will also manage the company’s existing €350 million cost reduction program and explore further ways to reduce costs and simplify the business.

September 9, 2011

Jim Cramer on Thursday shared his bullishness on Walgreens' stock with viewers of his "Mad Money" investment advice program on CNBC during a discussion and personal tour of Walgreens' new flagship location smack in the middle of the money-makers on Wall Street.

NEW YORK — Jim Cramer on Thursday shared his bullishness on Walgreens' stock with viewers of his "Mad Money" investment advice program on CNBC during a discussion and personal tour of Walgreens' new flagship location smack in the middle of the money-makers on Wall Street. Cramer's not just a fan of Walgreens stock — he visits that new Duane Reade/Walgreens prototype two to three times per week. That makes it his personal neighborhood drug store.

September 6, 2011

Former Duane Reade CFO William Tennant was sentenced to three years of probation for his securities fraud conviction in June 2010, according to published reports.

NEW YORK — Former Duane Reade CFO William Tennant was sentenced to three years of probation for his securities fraud conviction in June 2010, according to published reports.

Tennant, convicted of one count of securities fraud, was sentenced by U.S. District Judge Deborah Batts in a hearing Tuesday in a Manhattan federal court.

September 6, 2011

Latinos spend more than any other population segment on laundry and household cleaning supplies, according to the latest market research from Packaged Facts.

NEW YORK — Latinos spend more than any other population segment on laundry and household cleaning supplies, according to the latest market research from Packaged Facts.

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 30, 2011

Jonathon Singer has been appointed CFO of Sagent Pharmaceuticals, the generic drug maker said.

SCHAUMBURG, Ill. — Jonathon Singer has been appointed CFO of Sagent Pharmaceuticals, the generic drug maker said.

Singer joins Sagent from Landauer, a leader in radiation sciences and services, where he served as SVP finance and CFO. Meanwhile, Sagent's current CFO, Ron Pauli, will be transitioned into a newly created role of chief business officer, where he will be responsible for product launch execution, product pipeline management and business development.

August 24, 2011

CVS Caremark’s board of directors has approved a new share repurchase program for up to $4 billion of the company's outstanding common stock.

WOONSOCKET, R.I. — CVS Caremark’s board of directors has approved a new share repurchase program for up to $4 billion of the company's outstanding common stock.

The share repurchase authorization, which is effective immediately, enables the pharmacy retailer to affect the repurchases from time to time through a combination of open market repurchases, privately negotiated transactions, accelerated share repurchase transactions, and/or other derivative transactions. 


August 24, 2011

A recent consumer survey released by AlixPartners found that a little more than half of all consumers (51%) identify a traditional grocery retailer as their point of destination when making a grocery trip.

NEW YORK — A recent consumer survey released by AlixPartners found that a little more than half of all consumers (51%) identify a traditional grocery retailer as their point of destination when making a grocery trip. Such mass merchants as Walmart are capturing 30% of those trips, and the continued emphasis on fresh in the drug channel has drawn 5% of those trips into the mainstream pharmacy.

Dollar stores, another channel that has in the past few years made a significant push into food items, also draws 5% of all grocery trips.

August 9, 2011

Walgreens is planning to sell health insurance as soon as this fall, CNNMoney reported Tuesday morning.

NEW YORK — Walgreens is planning to sell health insurance as soon as this fall, CNNMoney reported Tuesday morning.

Walgreens declined to comment on the matter, according to the report.

The Chicago-based pharmacy-and-more operator would sell health insurance products with different price ranges and coverage levels across its network nationwide through a private health insurance exchange, CNNMoney reported, citing people familiar with the plan.

August 2, 2011

In line with its new position as a stand-alone corporation, the former U.S. subsidiary of a Swiss drug maker has appointed a new leader.

MELVILLE, N.Y. — In line with its new position as a stand-alone corporation, the former U.S. subsidiary of a Swiss drug maker has appointed a new leader.

Nycomed US announced that Brian Markison, former chairman and CEO of King Pharmaceuticals, will lead the company as president, CEO and a member of the board. The company also appointed Jeff Bailey as COO and John Golubieski as CFO. Both Bailey and Golubieski also held executive roles at King.

July 29, 2011

Lowering the maximum corporate tax rate could allow CVS Caremark to accelerate investments in U.S. jobs, technology and infrastructure — all of which could ultimately help lower healthcare costs and bolster the economy. That was a key message that CVS Caremark president and CEO Larry Merlo had for the Senate Finance Committee during a recent hearing.

WASHINGTON — Lowering the maximum corporate tax rate could allow CVS Caremark to accelerate investments in U.S. jobs, technology and infrastructure — all of which could ultimately help lower healthcare costs and bolster the economy. That was a key message that CVS Caremark president and CEO Larry Merlo had for the Senate Finance Committee during a recent hearing.

July 28, 2011

AARP magazine last week identified the top 10 retirement destinations, which potentially could be growth opportunities for pharmacy, that offer comfortably affordable lifestyles for seniors.

WASHINGTON — AARP magazine last week identified the top 10 retirement destinations, which potentially could be growth opportunities for pharmacy, that offer comfortably affordable lifestyles for seniors.

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 25, 2011


Since its nationwide launch in April 2010, Rite Aid’s wellness+ loyalty card program rapidly has proven itself to be a phenomenal boost to the chain’s business as the first-ever loyalty program designed to enhance customers’ savings and well-being together.



Since its nationwide launch in April 2010, Rite Aid’s wellness+ loyalty card program rapidly has proven itself to be a phenomenal boost to the chain’s business as the first-ever loyalty program designed to enhance customers’ savings and well-being together.