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Inside This Issue - News
Mary Lee Reinscheld became the first Medicare beneficiary to sign up for the Humana Walmart-Preferred Rx Plan, at a kiosk in a Walmart store here earlier this month. Former Walmart president Jack Shewmaker, who was instrumental in developing the retailer’s everyday low pricing strategy, died on November 17. He was 72. The Centers for Medicare & Medicaid Services has issued a final rule that withdraws provisions of the Medicaid pharmacy reimbursement formula using the average manufacturer price (AMP) model. Target Corp. expects a good holiday season that will yield the retailer’s highest quarterly same-store sales gains in three years. BJ’s Wholesale Club Inc. posted better than expected results for the third quarter as rumors swirled that the company is seeking a buyout. David Boehnen will retire as executive vice president at Supervalu effective December 15. He will , however, be a consultant to the company and a senior counselor to president and chief executive officer Craig Herkert for one year. With crunch time approaching for retailers and shoppers, conflicting forecasts made it difficult to gauge what to expect from the holidays. Category-leading suppliers managed above average sales gains in 2009 while spending less than average on their sales operations. Consumers continue to switch to private label products in an effort to save money, a recent poll suggests, even in categories where they once held out for national brands.
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