Content about finance

WASHINGTON — One could say that a job with the Food and Drug Administration would be the perfect way to get information about upcoming drug approvals and use it to profit handsomely from buying stock in the companies that manufacture the drugs before the information reaches the public.

Of course, the Securities and Exchange Commission would consider that illegal insider trading, as one FDA scientist recently discovered.

PLEASANTON, Calif. — The former chairman and CEO of Dreyer's Grand Ice Cream has joined Safeway's board of directors.

The appointment of T. Gary Rogers will expand the retailer's board of directors from nine to 10 members.

"Gary's vast experience as a supplier to the grocery industry, his business acumen and experience as a director will be great assets to the board," said Steve Burd, Safeway chairman, president and CEO. "We are pleased he is joining our board."

CITY OF COMMERCE, Calif. — First it was Family Dollar; now 99 Cents Only Stores finds itself in buyout talks, as investors are seeing the value in discount store chains.

WASHINGTON — The American Pharmacists Association is looking for a new CFO to replace Roger Browning, who will retire, the group said Tuesday.

Browning has worked in senior financial executive positions for the APhA since 1995, serving as SVP finance and CFO since 2007. Before working for the APhA, he was VP finance at the International Franchise Association.

MEMPHIS — Fred's on Thursday posted a 2% increase in sales totaling $153.6 million for the four weeks ended Feb. 26. Comparable-store sales for the month rose 0.9% versus an increase of 2% in the same period last year.

CLEVELAND — Greeting card enthusiasts that want to know what's new in the card aisles before hitting the stores now can see the latest innovations online, thanks to a new page on American Greetings' website.

AmericanGreetings.com's new page now features the latest product introductions, a special downloadable coupon and a store locator so consumers instantly can find retailers in their area.

CAMP HILL, Pa. — According to the National Retail Federation, the average person will spend more than $116 on Valentine’s Day, and shoppers will spend 11% more at flower shops, candy stores and retailers this year than last year.

Retail pharmacy chain Rite Aid said Monday it would be ready to sell chocolates, stuffed animals, trinkets and cards to last-minute shoppers.

These include Valentine’s Day cards for students and such novelty gifts as key chains, Lotto for Lovers scratch cards and bags of chocolate hearts for less than $1.

TORONTO — The abrupt departure of Shoppers Drug Mart president and CEO Jürgen Schreiber announced Wednesday is expected to negatively impact the company’s stock — many investors bought into Shoppers on the faith that retail maven Schreiber would return Canada’s largest drug retailer to consistent quarter-over-quarter growth.

RYE BROOK, N.Y. — A new quarterly index developed by eBillme found that 19% of shoppers will spend more on Valentine's Day this year.

The index polled 1,200 consumers to measure projected online spending for the quarter and the influencing factors, eBillme said. Of the consumers polled, the index revealed, 32% of shoppers will purchase Valentine's Day gifts online.

This quarter, respondents also were asked what they planned to purchase for Valentine's Day. Findings included:

SCHAUMBURG, Ill. — Nearly half (48%) of Americans between the ages of 45 and 70 years have no financial plans in place to protect themselves against outliving their assets and the rising cost of health care, should they live longer than they expected, according to a survey released last week by the Society of Actuaries.

MILWAUKEE — Aurora Health Care has appointed a Wisconsin state official as its SVP and CFO.

The nonprofit health system, which runs Aurora Health Care Pharmacy in Wisconsin, announced the appointment of Gail Hanson to the two positions, replacing David Eager, who will continue with Aurora’s finance group under Hanson’s leadership.

HOFFMAN ESTATES, Ill. — Sears Holdings' SVP procurement and finance has been promoted.

Deidra Cheeks Merriwether now holds the title of SVP and president of retail services, succeeding James Haworth. In this role, Merriwether, who joined the corporation in 2001, will be responsible for the oversight and leadership of retail services for the broadline retailer's Kmart and Sears stores.

Merriwether currently serves as a member of Sears Canada's board of directors and is the executive sponsor of the company's African-American Associate Network.