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Inside This Issue - News
The leaders of Walgreen Co. and Alliance Boots PLC envision a combined company that, by 2016, has: annual sales of $130 billion or more, adjusted operating income of between $9 billion and $9.5 billion, savings from synergies totaling $1 billion, and an operating cash flow of $8 billion or more. Joe Magnacca has left Walgreen Co. to become chief executive officer at RadioShack Corp. Harris Teeter Supermarkets Inc. has broken its long-standing policy of not commenting on rumors to confirm reports that it has retained J.P. Morgan Securities LLC to help it explore two recent offers to buy the company. Retail sales limped ahead last month as consumers adjusted their spending in response to the increase in payroll taxes and rise in gasoline and energy prices. CVS Caremark Corp. has acquired the Brazilian drug chain Drogaria Onofre. Meijer Inc. will spend more than $160 million this year to remodel and open stores. Five discount retail veterans have united to create a wholesale, retail and e-commerce venture. Ric Jurgens, who retired last year as chairman and chief executive officer of Hy-Vee Inc., has received the Food Marketing Institute’s (FMI’s) most prestigious honor, the Sidney R. Rabb Award. Consumers have drastically changed their approach to shopping over the past decade. They combine online and offline planning with in-store visits to make more informed and cost-effective purchasing decisions.
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