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BENTONVILLE, Ark. — Walmart reported on Thursday a second-quarter net income of $3.6 billion compared with a net loss of $861 million a year earlier. Revenue rose 1.8% to nearly $130.4 billion. Operating income, on a constant currency basis, declined 2.4% to $5.6 billion. “Customers are responding to the improvements we’re making, the productivity loop
CARLISLE, Pa. — GIANT Food Stores revealed plans for a flagship supermarket in a mixed-use urban development under construction on the banks of the Schuylkill River in downtown Philadelphia. The 65,000-square-foot GIANT store is expected to open by fall of 2020, the company said. “Like the city of Philadelphia, GIANT continues to grow and innovate
CAMP HILL, Pa .— Rite Aid Corp. said Monday that the board of directors has appointed Heyward Donigan as chief executive officer and a member of the board, effective immediately. As planned, John Standley will step down from his role as chief executive officer. “Today’s announcement is an important step in positioning Rite Aid for
WOONSOCKET, R.I.— CVS Health stock rose nearly 6% in pre-market trading on Wednesday after the company reported strong second quarter operating results for the three months ended June 30, 2019. Second quarter earnings beat Wall Street’s expectations, and the company significantly raised its own projection for full-year earnings. “We posted strong second quarter results, with
WOONSOCKET, R.I. — CVS Health said Saturday that Judy Sansone, the company’s senior vice president of front store business and chief merchant, has decided to retire in September. Sansone’s career at CVS spans 42 years and the company said she has played a critical role in many of the company’s most transformative moments. She played
SAN BERNARDINO, Calif. — Stater Bros. Markets president and longtime food industry leader George Frahm is planning to retire on October 31, and industry veteran Greg McNiff will be his successor. In his new role, McNiff will report directly to Stater Bros. chief executive officer Pete Van Helden. The company said McNiff will officially join
LAKELAND, Fla. — Publix reported sales of $9.3 billion for the three months ended June 29. That is a 6.8% increase over the $8.8 billion recorded in the comparable period in 2018. Comparable store sales increased 4.8% in the second quarter. The company estimates that 1.2% of that increase was due to the fact that
NEW YORK — Mass Market Retailers last week honored the outstanding executives who were identified by the publication as the industry’s Most Influential Women in 2019. The awards presentation and reception drew retailer and supplier executives from across the food, drug and mass channels to a ballroom in lower Manhattan. On hand to receive awards
SEATTLE, Wash. — Amazon reported net sales of $63.4 billion in the second quarter, beating analysts’ expectations. That is an increase of about 20% over sales in the prior year period, and when the $814 million unfavorable impact of foreign exchange rates is excluded from the calculation, the increase in net sales was 21%. Net
ATLANTA — UPS is rolling out package pickup and return service in CVS Pharmacy stores nationwide. For CVS, joining the UPS Access Point network will not only help drive store traffic but also provide UPS customers with the option to consolidate their trips and spending.The offering, which is set to begin immediately and is planned
WASHINGTON — With the Senate Finance Committee expected to begin making decisions on spending bills as early as today, the National Association of Chain Drug Stores has launched a telephone hotline — (866) DIR-RE4M — that pharmacy advocates can use to urge the inclusion of DIR fee relief in drug-pricing legislation. An NACDS RxImpact grassroots
BENTONVILLE, Ark. — Walmart is merging its U.S. store and digital supply chain teams in what the company calls a next step in its efforts to create a seamless omnichannel shopping experience for its customers. Greg Smith, executive vice president, supply chain at Walmart U.S., will lead the combined team, and will report jointly to