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December 18, 2014

TOP STORY

Rite Aid earnings beat expectations

Rite Aid Corp. posted fiscal 2015 third-quarter earnings per share well above Wall Street's projections.

The company attributed the increase mainly to an increase in adjusted EBITDA, which was driven by gains in front-end and pharmacy gross profit resulting from higher prescription sales and lower generic drug costs arising from the transition to a new distribution pact with McKesson Corp.

 

RETAIL NEWS BREAKS

Merlo says CVS well positioned in health care

With its integrated model of retail pharmacy, pharmacy benefit management, retail clinic and specialty pharmacy businesses, CVS Health is well-positioned to meet the changing needs of payors, providers and customers as they navigate the health care landscape, president and chief executive officer Larry Merlo said at the company's annual Analyst Day in New York.

McMullen elected Kroger chairman

Kroger Co. chief executive officer Rodney McMullen has been elected chairman, taking the reins from David Dillon, who is retiring.

Walgreens CEO Wasson to step down

Greg Wasson, who has been chief executive officer of Walgreen Co. for the past six years and was instrumental in establishing its global partnership with Alliance Boots, will step down from his CEO and president positions "shortly after" Walgreens shareholders approve the formal merger with Alliance Boots later this month.

Walmart names new U.S. chief operating officer

Judith McKenna has been promoted to chief operating officer for Walmart U.S., succeeding Gisel Ruiz, who has been appointed executive vice president of Walmart's International People Division.

First quarter sales and earnings rise at Costco

Costco Wholesale Corp., the nation’s largest chain of membership warehouses, on Wednesday posted growth in earnings, revenue and comparable-store sales for the first quarter, aided by increased traffic at its stores and website.

Dollar Generalís Q3 sales and earnings rise

Dollar General Corp. on Thursday reported third quarter financial results that fell short of analysts’ expectations. It also reiterated its commitment to buy Family Dollar Stores Inc., which has agreed to be acquired by rival Dollar Tree Stores Inc.

Samís Club launches app for travel deals

Sam’s Club announced on Thursday that it has released a free app that helps club members find travel deals.

More Retail News Breaks >>

SUPPLIER NEWS BREAKS

Kraft Foods Group names John Cahill CEO

Kraft Foods Group Inc. has named John Cahill, chairman of the board of directors, to the additional position of chief executive officer.

Merck to buy antibiotics leader for $8.4 billion

Merck & Co. said Monday it will acquire Cubist Pharmaceuticals Inc. for $8.4 billion. The transaction will include $1.1 billion in net debt (based on projected cash balances) and other considerations for a total transaction value of about $9.5 billion.

Crossmark names Schuckenbrock CEO

Crossmark Inc. named Steve Schuckenbrock as chief executive officer, effective December 4. Schuckenbrock succeeds Ben Fisher, who becomes board chairman at Crossmark, a sales and marketing services provider with clients in the consumer packaged goods industry.

Bayer Consumer Care's Heist set to retire

David Heist, director of industry affairs and customer relations at Bayer Consumer Care, has announced his retirement.

Longtime Energizer exec Martire to retire

Veteran Energizer Holdings Inc. executive Lou Martire plans to retire next year after more than four decades at the company.

Actavis buys Allergan

Actavis PLC is acquiring Allergan Inc. in a transaction valued at about $66 billion. The combination will create one of the top-10 global pharmaceutical companies by sales revenue, with combined annual pro forma revenues of more than $23 billion anticipated in 2015.

GMDC names Spear as new president

Veteran consumer packaged goods executive Patrick Spear has taken the reins as president of the Global Market Development Center (GMDC).

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