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Issue 02-28-2022

Retailers post strong January sales

WASHINGTON — Omicron, inflation and bad weather in much of the country were not enough to stop consumers from shopping in January, according to figures from the Census Bureau and the National Retail Federation (NRF). Retail sales posted strong gains in January despite those and other challenges. “January’s numbers show that 2022 is starting very

Vachris is promoted to president and COO of Costco

ISSAQUAH, Wash. — Costco Wholesale Corp. has named Ron Vachris president and chief operating officer. Vachris, 56, previously served as executive vice president and chief operating officer of merchandising, a position he was named to in June 2016. Vachris succeeds Craig Jelinek in the role of president, while Jelinek remains chief executive officer and a

Walmart testing format at its incubator location

BENTONVILLE, Ark. — Wal­mart is testing a new store format that is designed to make the shopping experience more engaging and enjoyable for ­consumers. Unveiled at the retailer’s incubator location, Store 4108 in Springdale, Ark., the concept is called Time Well Spent. It aims to make Walmart’s physical stores into destinations where customers want to

Walmart concludes strong year with stellar quarter

BENTONVILLE, Ark. — Wal­mart wrapped up its 2022 fiscal year on a resoundingly strong note, beating Wall Street’s expectations for fourth quarter adjusted earnings, revenues and same-store sales. The flagship Walmart U.S. division, moreover, topped $100 billion in quarterly sales for the first time. “We had another strong quarter to finish off a strong year,”

Ahold Delhaize USA’s online sales soar nearly 69% in 2021

ZAANDAM, Netherlands — Ahold Delhaize USA provided most of the growth momentum for its parent company, Ahold Delhaize Group, in 2021, as robust e-commerce sales drove solid top-line results while operating profit soared by triple digits. Net sales for the U.S. business, which provided 60% of its parent’s top line and more than two-thirds of

Save A Lot transitions to purely wholesale model

ST. LOUIS — Save A Lot has completed its transformation to a pure-play wholesale model with the sale of nearly 300 corporate-operated locations to independent retail operators, who will continue to operate the stores under the Save A Lot brand. “Becoming a wholesaler was an important step in Save A Lot’s mission to lead as

CVS’ Q4 sales, earnings exceed expectations

WOONSOCKET, R.I. — CVS Health’s fourth quarter sales and earnings beat Wall Street’s expectations, as demand for COVID-19 tests and vaccines drove customers to stores. Revenue for the three months ended December 31 jumped 10.1% from a year earlier to $76.6 billion, topping analysts’ projection of $75.67 billion. Adjusted earnings per share climbed 52% to