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Retail News Breaks Archives With John Standley taking the reins as chief executive officer, Rite Aid Corp. has promoted Ken Martindale to chief operating officer. Supermarket giants Kroger Co. and Supervalu Inc. have announced new stock buyback programs. John Standley is set to take the helm today as Rite Aid Corp.'s new chief executive officer. Drug store chains Walgreen Co. and Rite Aid Corp. turned in uneven performances this week in their latest quarterly financial reports. Walmart has unveiled a plan to work with the city of Chicago to open dozens of stores that could create as many as 12,000 jobs over the next five years. Retailers scored a victory this week when Congress agreed to include new measures to regulate debit card interchange fees in pending financial reform legislation. Walmart has partnered with pharmaceutical giant Eli Lilly & Co. to provide what the two companies call an "affordable insulin option" for people with diabetes. Target Corp. plans to implement the full nextGEN software suite from DemandTec Inc., which said the solution will help the retailer and its trading partners quickly identify new opportunities to reach specific customer segments with more tailored assortments, promotions and pricing. Dollar Tree Inc. has been authorized by its board to repurchase an additional $500 million of its common stock.
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