Content about finance

July 19, 2012

Safeway is looking to its recently launched Just for U loyalty program, which this month became available across all U.S. divisions, to help drive a positive sales story through the rest of the fiscal year.

PLEASANTON, Calif. — Safeway is looking to its recently launched Just for U loyalty program, which this month became available across all U.S. divisions, to help drive a positive sales story through the rest of the fiscal year. The key differentiator for that program is Safeway's ability to personalize the loyalty card experience to a factor of one.

"Registration is on track," Steve Burd, Safeway chairman and CEO, told analysts during a conference call late Thursday morning. Safeway is capturing approximately 70% of its customers into the loyalty program.

July 18, 2012

Stater Bros. has promoted one of its executives to a new role.

SAN BERNARDINO, Calif. — Stater Bros. has promoted one of its executives to a new role.

Stater Bros. board chairman and CEO Jack Brown confirmed that David Harris was promoted to the position of SVP finance, CFO and principal accounting officer at the company. Harris joined the company in 2009 as VP finance and was promoted to SVP finance last year.

June 29, 2012

Coty has filed to raise as much as $700 million in an initial public offering.

NEW YORK — Coty has filed to raise as much as $700 million in an initial public offering. The filing with the Securities and Exchange Commission comes about a month after the beauty company dropped its bid for Avon because of Avon’s “delay and unwillingness to engage in discussions.”

In the filing, Coty told the SEC that it intends to list the Class A common stock on either the NASDAQ or the New York Stock Exchange under the symbol “COTY.” Coty did not reveal how many shares it plans to sell or their expected price.

June 29, 2012

One of Impax Labs' top executives is leaving the company, the drug maker announced Friday.

HAYWARD, Calif. — One of Impax Labs' top executives is leaving the company, the drug maker announced Friday.

Impax said EVP finance and CFO Arthur Koch would resign to pursue other opportunities. VP finance Bryan Reasons has been appointed acting CFO as the company searches for a successor to Koch.

June 25, 2012

The U.S. pharmaceutical subsidiary of Eisai has promoted one of its executives.

WOODCLIFF LAKE, N.J. — The U.S. pharmaceutical subsidiary of Eisai has promoted one of its executives.

Shaji Procida, who previously served as VP finance of Eisai Inc., has been appointed to serve as VP and CFO. In her elevated role, she will have oversight and responsibility for all of Eisai's financial operations in the United States and also will continue to serve as a member of the company's executive committee. Procida has worked at the drug maker since 1998.

June 22, 2012

The purchasing behaviors of consumers continue to reflect the ever-challenging economic climate, according to a new report from Acosta Sales and Marketing.

JACKSONVILLE, Fla. — The purchasing behaviors of consumers continue to reflect the ever-challenging economic climate, according to a new report from Acosta Sales and Marketing.

June 8, 2012

AmerisourceBergen on Friday announced that Lazarus Krikorian has been named VP, corporate controller, effective immediately.

VALLEY FORGE, Pa. — AmerisourceBergen on Friday announced that Lazarus Krikorian has been named VP, corporate controller, effective immediately.

Krikorian will be an officer of the company and will report to Tim Guttman, who was recently appointed SVP and CFO, and whom Krikorian succeeds as corporate controller.

June 5, 2012

Nipro Diagnostics has appointed a new finance chief.

FORT LAUDERDALE, Fla. — Nipro Diagnostics has appointed a new finance chief.

The manufacturer and marketer of blood-glucose monitoring products and supplies for diabetes management said Dean Sorrentino has joined the company as CFO. Sorrentino will have responsibility for the company's accounting, treasury, tax, legal and information technology functions, and will partner with other senior executives to oversee companywide business operations. Prior to joining the company, he served as VP and corporate controller at CompuPay.

June 5, 2012

A vast majority of shoppers continue to purchase some private-label products on a regular basis, according to research from Perception Research Services.

FORT LEE, N.J. — A vast majority of shoppers continue to purchase some private-label products on a regular basis, according to research from Perception Research Services.

Among roughly 600 primary household grocery shoppers ages 18 to 64 years polled, PRS found that 86% continue to purchase private-label items on a regular basis (compared with 84% in 2010), while 38% have purchased more private-label products than they did in 2010 (32%) and across additional categories. More than half (51%) said they feel smart/savvy when they buy private-label products.

May 30, 2012

Some health insurers are requiring patients to pay larger sums for specialty drugs, according to published reports.

NEW YORK — Some health insurers are requiring patients to pay larger sums for specialty drugs, according to published reports.

May 16, 2012

Marshal Cohen, chief industry analyst at the NPD Group said that back-to-college has become a big opportunity for retailers, and everybody wants part of the business. Last year, families spent an average of $800 on back-to-college products.


Marshal Cohen, chief industry analyst at the NPD Group said that back-to-college has become a big opportunity for retailers, and everybody wants part of the business. Last year, families spent an average of $800 on back-to-college products.


May 16, 2012

Publix has promoted one of its executives.

LAKELAND, Fla. — Publix has promoted one of its executives.

Gino DiGrazia, who currently serves as VP and controller of Publix's business analysis and reporting, has been promoted to VP finance. In addition to his current responsibilities for business analysis and reporting, DiGrazia assumes many of the responsibilities previously held by Kelly Underhill, director of tax and treasury, who retired from Publix on March 30.

May 11, 2012

AmerisourceBergen has promoted one of its executives to serve as its finance chief, the company said Friday.

VALLEY FORGE, Pa. — AmerisourceBergen has promoted one of its executives to serve as its finance chief, the company said Friday.

Tim Guttman — who has served as acting CFO since February, as well as VP and corporate controller for the last 10 years — has been appointed SVP and CFO, effective immediately. Guttman will report to AmerisourceBergen's president and CEO Steven Collis.

Guttman replaced Michael DiCandilo, who left his role as EVP and CFO of the company earlier this year to pursue other interests.

May 2, 2012

Former Clorox EVP and CFO Daniel Heinrich has been added to Energizer's board of directors, the company announced.

ST. LOUIS — Former Clorox EVP and CFO Daniel Heinrich has been added to Energizer's board of directors, the company announced.

Heinrich, whose term of office expires at Energizer's 2013 annual meeting of stockholders, brings more than 34 years of experience to the role. He also has been appointed to the nominating and executive compensation committee. With the addition of Heinrich, Energizer's board now consists of 10 directors, nine of whom meet the standards of the New York Stock Exchange for independence.

May 2, 2012

The National Retail Federation is responding to a report from the Federal Reserve that revealed that debit card swipe fees collected by the nation's largest banks have dropped significantly since reform regulations took effect last fall.

WASHINGTON — The National Retail Federation is responding to a report from the Federal Reserve that revealed that debit card swipe fees collected by the nation's largest banks have dropped significantly since reform regulations took effect last fall.

April 26, 2012

Walmart has launched a "pay with cash" service that offers cash payment options for online orders at Walmart.com in the United States.

BENTONVILLE, Ark. — Walmart has launched a "pay with cash" service that offers cash payment options for online orders at Walmart.com in the United States.

Walmart is the first major retailer to offer online purchases without the need for banking services or a credit, debit or prepaid card.

April 17, 2012

Workers' compensation pharmacy costs took on an extra $2.1 billion in 2011 due to unnecessary use of more expensive drugs, according to a new report by pharmacy benefit manager Express Scripts.

ST. LOUIS — Workers' compensation pharmacy costs took on an extra $2.1 billion in 2011 due to unnecessary use of more expensive drugs, according to a new report by pharmacy benefit manager Express Scripts.

April 13, 2012

Trading of Safeway shares on Nasdaq were up almost 75 cents in late morning trading on speculation that Safeway soon may be up for sale.

NEW YORK — Trading of Safeway shares on Nasdaq were up almost 75 cents in late morning trading on speculation that Safeway soon may be up for sale.

The speculation is borne out of a recent revision in the company’s change in control that would make retention of management easier and cheaper in a take-out, suggested Ed Kelly, Credit Suisse analyst, in a note published Friday morning. "While this is an interesting development, we do not believe it signals that Safeway is suddenly up for sale."

April 9, 2012

Safeway on Monday evening promoted Robert Edwards to president of the company. Edwards had served as Safeway's EVP and CFO since 2004.

PLEASANTON, Calif. — Safeway on Monday evening promoted Robert Edwards to president of the company. Edwards had served as Safeway's EVP and CFO since 2004.

April 6, 2012

Target has committed $15,000 in cash and gift cards to assist the Texas communities impacted by recent tornadoes.

MINNEAPOLIS — Target has committed $15,000 in cash and gift cards to assist the Texas communities impacted by recent tornadoes.

Cash donations will be distributed to The Salvation Army and the American Red Cross. In addition, Target has donated gift cards to other local nonprofit organizations for such essentials as water and food.

April 2, 2012

The controversial merger between Express Scripts and Medco was completed Monday morning, according to a press release issued by both Express Scripts and the Federal Trade Commission.

WASHINGTON — The controversial merger between Express Scripts and Medco was completed Monday morning, according to a press release issued by both Express Scripts and the Federal Trade Commission.

March 27, 2012

The Supreme Court on Tuesday morning heard arguments on whether the individual mandate portion of the Patient Protection and Affordable Care Act is constitutional.

WASHINGTON — The Supreme Court on Tuesday morning heard arguments on whether the individual mandate portion of the Patient Protection and Affordable Care Act is constitutional. The final decision, expected in June, could mean a swing between 15 million and 27 million Americans, along with their prescription and other healthcare needs, entering the insurance market in 2014, according to a recent study published by the Rand Corp.

March 23, 2012

Former Walgreens' CEO Jeff Rein said profit pressure might cause Walgreens to think differently about acquisitions than it did in the past.

WHAT IT MEANS AND WHY IT'S IMPORTANT — Former Walgreens' CEO Jeff Rein said profit pressure might cause Walgreens to think differently about acquisitions than it did in the past. The loss of Express Scripts patients (who are incidentally taking their prescriptions to the nearest Walgreens competitor), coupled with a significant generic wave through 2012 — moreso in the back half of the year — potentially could keep Walgreens from posting a profit through fiscal 2012. "Walgreens is in a real poor position here," Rein said.

March 19, 2012

Safeway announced that its board of directors Friday declared a regular quarterly cash dividend of 14.5 cents per share.

PLEASANTON, Calif. — Safeway announced that its board of directors Friday declared a regular quarterly cash dividend of 14.5 cents per share.

The dividend will be payable on April 12 to stockholders of record at the close of business on March 22, the company noted.

March 19, 2012

A miniature version of the spike in stock market activity that followed speculation about the prospects of a Walgreens-Rite Aid merger happened on Drug Store News' website as a quick writeup about the potential deal became the most-read story on the site. But for all the buzz that Credit Suisse analyst Edward Kelly created with his report, a Walgreens-Rite Aid merger appears pretty unlikely on closer inspection.

WHAT IT MEANS AND WHY IT'S IMPORTANT — A miniature version of the spike in stock market activity that followed speculation about the prospects of a Walgreens-Rite Aid merger happened on Drug Store News' website as a quick writeup about the potential deal became the most-read story on the site.

(THE NEWS: Reports: WAG-RAD merger speculation drives RAD stock to four-year high. For the full story, click here)