Content about Economy of the United States

February 25, 2013
New south Fla. Target store set for October opening

Target will open a new store in East Kendall, Fla., one of the 18 it plans to open this year in the United States, the mass merchandise retailer said.

February 25, 2013
Supervalu to focus on 'right-sizing' going forward

When Supervalu announced this past summer a review of strategic alternatives, its goals were to improve its business, better position the company for the future and create the best opportunity to deliver shareholder value. This effort has led to the sale of 877 stores to AB Acquistion.

February 21, 2013
Albertsons appoints division presidents; Justin Dye to head pharmacy

Albertsons named the division presidents who will lead the 877 stores it will acquire from Supervalu after the purchase agreement closes next month, the company said. The two companies agreed to the purchase in January.

February 21, 2013
UrgentRx expands distribution into Duane Reade, Walmart

UrgentRx announced expansion of its line of fast-acting over-the-counter flavored powder medications into Duane Reade and Walmart.

February 21, 2013
Walmart bests forecasts amid soft sales

Walmart saw a slight 1% increase in same-store sales at U.S. stores, but beat analyst estimates and delivered better-than-expected fourth-quarter profits, the company announced.

February 20, 2013
GNC marks mass retail for nationwide distribution of its 'Marked' portfolio

GNC is ramping up its reach beyond its 6,100 retail outlets, Joe Fortunato, the company's chairman, president and CEO, told analysts last week.

February 20, 2013
Reports: Analyst names Ahold as 'most logical' buyer of Harris Teeter

Supermarket operator Ahold USA could be in a position to buy Matthews, N.C.-based supermarket chain Harris Teeter, according to published reports.

February 19, 2013
Kroger names in-house veteran group VP non-perishables

Kroger promoted Robert Clark, 28-year veteran, as group VP non-perishables.

February 19, 2013
Less than half of employers have specialty prior authorization programs under medical benefits, study finds

Management of specialty drugs under the medical benefit continues to trail management under the pharmacy benefit, according to a new report by the Pharmacy Benefit Management Institute.

February 19, 2013
Special Olympians from So. Fla. participate in CVS Caremark All Kids Can Baseball Camp

More than 20 athletes from Special Olympics Florida experienced what it’s like to be a major league ball player when they took part in a recent CVS Caremark All Kids Can Baseball Camp during Red Sox Spring Training.

February 15, 2013
Costco sued over diamond engagement rings

Jewelry maker Tiffany & Co. is suing Costco Wholesale, alleging that the club retailer falsely marketed diamond engagement rings as coming from the New York-based jeweler, according to published reports.

February 15, 2013
Legislation would allow states to levy sales taxes on out-of-state online purchases

Sears Holdings, the parent company of mass merchandiser Kmart, is throwing its support behind a bill that would grant states authority to enforce existing sales tax laws and require out-of-state online retailers to collect and remit sales taxes on sales made to their residents.

February 14, 2013
Target, Mindless Behavior partner in lyric-writing contest

Target has a deal with pop music group Mindless Behavior to let fans write lyrics for the band, the mass merchandise retailer said.

February 11, 2013
Former discount retail execs team up on new retail, wholesale business

A group of former executives from Save-A-Lot, Grandpa's Stores and Deals: Nothing Over a Dollar has teamed up to create a new business venture that they said would combine wholesale, retail and e-commerce components.

February 11, 2013
Mylan appoints two new board members

Mylan has appointed its president and a former partner at Goldman Sachs to its board of directors, the generic drug maker said.

February 11, 2013
New Justin Timberlake album sold at Target features two bonus tracks

Target is selling a special edition of Justin Timberlake's new studio album, the mass-merchandise retailer said.

February 8, 2013
In true hedgehog fashion, Walgreens taps an experienced pro to lead merchandising

RadioShack on Thursday evening tapped Joe Magnacca, who played a key role in making Walgreens' front-end transformation pop, to be the small-box electronics retailer's chief executive. On Friday morning, RadioShack's shares jumped as Wall Street absorbed the news.

And while that hire makes perfect sense for RadioShack, where does that leave Walgreens? While merchants the likes of Magnacca don't exactly grow on trees, in classic hedgehog style the news also speaks to the depth of Walgreen's bench. The company has a lot of faith in Bryan Pugh. They hired him to be chief merchant before they bought Duane Reade and acquired a problem just about any retailer would love to have: two very talented men leading the merchandising drive.

February 8, 2013
It's official: CVS Caremark has acquired Brazil's Onofre. What's next?

During its fourth-quarter conference call on Wednesday, CVS Caremark officially unveiled its foray into the international drug store space with the acquisition of Brazilian retailer Onofre, the eighth-largest drug chain in Brazil.

Now that the other shoe has dropped, what's next?

While chains are prevalent, Brazil remains a highly fragmented market that is clearly ripe with opportunities thanks, in part, to an aging population, a decline in unemployment and a rise in incomes.

February 7, 2013
Costco total sales, comps rise in January

Costco's sales increased 7% in January compared with January 2012, the club retailer said.

February 7, 2013
RadioShack taps Magnacca as CEO, ‘catalyst for change’

Everybody loves a turnaround story. RadioShack is betting that the now-former president of daily living products and solutions for Walgreens, Joe Magnacca, will help author a turnaround story of its own for the small-box consumer electronics retailer.

February 7, 2013
Sam's Club offering heart health screenings

Sam's Club will offer free heart health screenings at 563 of its stores on Saturday, the club retailer said.

February 7, 2013
Shoppers Drug Mart pursuing acquisition opportunities, gearing up for rise in rivals

Despite continuing to face regulatory headwinds in the Canadian market, executives at Canadian pharmacy retailer Shoppers Drug Mart were “pleased” with fourth-quarter results and indicated that the company will continue to pursue acquisition opportunities.

February 7, 2013
Target January sales rise nearly 30%

Target reported net sales of nearly $6 billion in January, the company said, a 29.6% increase over January 2012.

February 7, 2013
Verizon Communications elects Walgreens chief Greg Wasson to board

Verizon Communications on Thursday elected Greg Wasson, Walgreens president and CEO, to the Verizon board of directors, effective March 1.

February 6, 2013
CVS Caremark pulls lid off Brazilian bombshell, posts 'strong' Q4

CVS Caremark executives expressed optimism Wednesday morning as the company posted record fourth-quarter results, raised its 2013 guidance and continues to work to leverage its distinctive business model to help people on their path to better health amid a rapidly changing healthcare environment.

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