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
The retail pharmacist, backbone of the retail community’s battle with COVID-19, is pushing back against the punishing demands being exacted in the war against the current pandemic. With good reason. In their unending war with COVID, U.S. retailers are, understandably, asking more of the in-store pharmacist than can reasonably be requested — or demanded. In
It’s clear that high inflation, which some overly optimistic economists had predicted would be a short-lived phenomenon, is now a persistent problem. Nowhere is the financial squeeze it causes more immediately evident to most Americans than at the supermarket. Leslie Sarasin, president and chief executive officer of FMI – The Food Industry Association, and Ricky
Shopping in physical stores may be coming back in style. NPD Group reported at the end of November that in-store retail sales had risen to pre-pandemic levels, while the growth of online sales was slowing. “Physical stores are more relevant today than they were before the pandemic,” said Marshal Cohen, chief retail industry advisor for
As a shopper approaches a store and the doors slide open, warm air rushes out and cold air pushes the customer inside. But who is that shopper? Someone who loves the retailer, or someone who tolerates it? And, most importantly, someone who spends money within the store or prioritizes their hard-earned dollars elsewhere? The idea
NEW YORK — Since taking the reins at Target Corp. in 2014 Brian Cornell’s game plan has involved listening to customers, then making sure the company has the flexibility to deliver on what’s most important to them. Following the strategy has led Target to a pretty good place: The retailer is coming out of an
NEW YORK — At a time when changing expectations of consumers, the ongoing COVID-19 pandemic, supply chain disruptions and digital technology are causing long-held assumptions about business to be called into question, the National Retail Federation (NRF) is fortunate to have a leader focused on developing an effective response to those dynamics. John Furner, the
SEATTLE — Amazon plans to open its first tech-enabled brick-and-mortar clothing store later this year. Called Amazon Style, the store will debut at The Americana at Brand shopping center in Glendale, Calif. Amazon.com is already a big seller of apparel — Wells Fargo analysts said last year that Amazon had passed Walmart to become the
BENTONVILLE, Ark. — Walmart U.S. president and chief executive officer John Furner this month announced a number of personnel moves, including the promotion of Tom Ward to executive vice president and chief e-commerce officer. Ward will succeed Casey Carl, who recently announced he was leaving the company. Furner announced Ward’s promotion in an internal memo
CHICAGO — Amazon took the top spot in dunnhumby’s latest ranking of the nation’s top grocery retailers, with H-E-B following in second place and Market Basket leapfrogging three retailers to take the third spot away from Trader Joe’s. Wegmans held onto the fourth spot for a second year in a row. “The pandemic has massively
GRAND RAPIDS, Mich. — SpartanNash has named two executives to key leadership positions. Earlier this month the company promoted Amy McClellan to senior vice president and chief marketing officer. The following week, Bennett Morgan joined SpartanNash as senior vice president and chief merchandising officer. Both report to SpartanNash president and chief executive officer Tony Sarsam.
BOISE, Idaho — Albertsons Cos. reported increased sales and earnings for its fiscal 2021 third quarter, which ended December 4. Identical sales increased 5.2%; on a two-year stacked basis identical sales growth was 17.5%. Digital sales increased 9%, and the gain on a two-year stacked basis was 234%. Net income was $424.5 million, or 74