PHILADELPHIA — Rite Aid posted mixed results for the second quarter of its 2023 fiscal year, with sales that beat analysts’ expectations but were accompanied by a larger-than-expected loss. The company’s $5.9 billion in revenue topped Wall Street’s forecast of $5.77 billion. But its adjusted 63 cents per share loss was worse than the anticipated
Imagine if more than seven out of every 10 shoppers in a physical store, after pushing their carts down various aisles and picking out the products they wanted, simply abandoned those carts when they got to the checkout line, and left without buying anything. That’s exactly what’s happening online, according to a recent report by
For the first time since 1969, the White House convened a conference on hunger, nutrition and health. The meeting, which late last month brought together government officials and leaders from the business, civic, philanthropic and academic sectors, was intended to put the country on course to achieve two of President Biden’s major objectives — ending
I saw a report from Bloomberg a little while ago that the Federal Reserve has a new plan to end high inflation — through a “growth recession” strategy. Worrisome, huh? The economist who first thought up “growth recession” likened it to a contained tiger — not a tiger running loose, but not a paper tiger
BOSTON — Retailers and suppliers who returned to this year’s National Association of Chain Drug Stores Total Store Expo late last month heard an encouraging message about their industry and its growing role at the center of America’s health care and wellness future. NACDS chair Brian Nightengale, who is also president of Good Neighbor Pharmacy,
GRAND RAPIDS, Mich. — In its latest innovation to provide a shopping solution for every customer, Meijer has introduced Meijer Grocery, a brick-and-mortar store concept and banner offering customers a convenient, simplified shopping experience while providing communities easier access to fresher food. The first two Meijer Grocery stores will open early next year in neighborhoods
WASHINGTON — U.S. economic growth has slowed, but it still isn’t clear if the nation is in a recession, National Retail Federation chief economist Jack Kleinhenz said earlier this month. “As we come to the end of the summer, economic indicators are signaling an unsteady U.S. expansion in the face of several headwinds,” Kleinhenz explained,
CLEVELAND, Ohio — Two Ohio counties have been awarded $650 million in damages in a lawsuit against CVS, Walgreens and Walmart, claiming the way the pharmacy chains distributed pain medications significantly harmed the communities. The August 17 ruling is the first by a federal judge that assigns monetary damages against the chains for their roles
GOODLETTSVILLE, Tenn. — Dollar General Corp. continues to shuffle its leadership ranks ahead of the planned retirement of chief executive officer Todd Vasos. The latest move involves a promotion for chief financial officer John Garratt, who on September 1 added the role of president. The 53-year-old Garratt will remain responsible for the company’s finance, accounting,
CARLISLE, Pa. — GIANT Co. president Nicholas Bertram left the company at the end of August to pursue other opportunities. John Ruane has been appointed interim president. “We have been fortunate to have Nick lead The GIANT Co. during his nine-year tenure,” said Kevin Holt, president of Ahold Delhaize USA. “His leadership has inspired very
CHESAPEAKE, Va. — Dollar Tree Inc. reported consolidated net sales of $6.77 billion in the quarter ended July 30, up 6.7% from a year earlier. Store comps increased 7.5% in the Dollar Tree chain, 2% in Family Dollar and 4.9% companywide. The performance reinforces the relevance of its brands for millions of households coping with
GOODLETTSVILLE, Tenn. — Higher prices attracted more belt-tightening shoppers to its stores and helped Dollar General Corp. post quarterly sales and profits that topped Wall Street’s estimates for the discount retailer’s second quarter. Dollar General said net sales rose 9% to $9.4 billion in the quarter ended July 29, pushing net income to $678 million,