MINNEAPOLIS — Target Corp. capped a spectacular fiscal 2021 performance by recording more than $100 billion in sales for the first time and achieving record earnings per share in the fourth quarter. With both its in-store and e-commerce channels operating impressively, management has announced an aggressive program of investments to drive long-term growth and expand
PHILADELPHIA — Rite Aid Corp. earlier this month took steps to realign its management team and streamline the company’s operations. The move came on the heels of the introduction of a new customer loyalty program and a revamped philanthropic arm. The management changes included the elimination of the Rite Aid chief operating officer position and
CHESAPEAKE, Va. — Dollar Tree Inc. has shaken up its board of directors, naming Rick Dreiling, former chief executive officer of Dollar General Corp., executive chairman and adding Paul Hilal, CEO of private equity firm Mantle Ridge LP, as vice chair along with five other new directors. Former chairman and CEO Bob Sasser and five
GOODLETTSVILLE, Tenn. — The relentless expansion of Dollar General’s retail footprint has taken the discount chain into its 47th state, with the recent opening of its first store in Idaho. And with expansion comes new jobs — the company said that it expects to create 10,000 career opportunities in fiscal 2022, increasing its workforce by
CINCINNATI — Kroger Co. posted solid sales gains in its fourth quarter as customers continued to prepare and eat meals at home. Earnings exceeded projections despite higher supply chain costs, the company said earlier this month. Kroger revised its full-year adjusted earnings forecast to $3.40 to $3.50 a share from an earlier projection of $3.25
SPRINGFIELD, Mo. — Hy-Vee Inc. debuted the latest version of its supermarket concept here last month with the grand opening of a 93,402-square-foot store. The new outlet has extensive meal and dining options, including a pub with an outdoor patio; an open Food Hall that features Hy-Vee’s new breakfast menu; Mealtime offerings; Mia Italian; Hy-Chi
BENTONVILLE, Ark. — Walmart has introduced two new offerings that the company said will help make it simple, easy and affordable for customers to live better. Walmart becomes the first retailer to exclusively offer BetterUp for Caregivers and Easy Vitamin Plan subscriptions to customers across the United States, according to Julie Barber, senior vice president
ANN ARBOR, Mich. — Customer satisfaction with retail is relatively stable, according to the American Customer Satisfaction Index’s 2021-2022 ranking. The Retail Trade sector as a whole saw its score dip just 0.5% to 75.1 (out of 100). “Cool stability,” says ACSI managing director David VanAmburg. “That’s the best way to describe the retail sector
On Thursday, March 3, the editors of Racher Press, publisher of MMR and Chain Drug Review, gathered together five industry-leading personalities to discuss the state of the world and the retailing industry. Without naming names, those on hand included a senior executive with one of the nation’s leading food retailers, two senior consumer packaged goods
The metaverse is emerging as a new frontier in the battle for supremacy among retail pharmacy operators. CVS Health staked its claim in the still inchoate realm, asking the U.S. Patent and Trademark Office to protect its brand, logo and stores “online and in online virtual worlds.” The company envisions the day when it could
The Bureau of Labor Statistics reported earlier this month that the Consumer Price Index, which measures a basket of goods and services, indicated an inflation rate of 7.9% for the 12-month period that ended in February. That’s a number not seen since January 1982, indicating that inflation is higher than it’s been in 40 years.