This is a category for posts to be display on top left column
ZAANDAM, Netherlands — The merger of Royal Ahold and the Delhaize Group always had a compelling logic behind it. The companies, with roots in the neighboring countries of Holland and Belgium, possessed complementary capabilities and geographic footprints, in both the European and American retail markets, as well as similar histories. Over the years, a variety
BENTONVILLE, Ark. — Rosalind Brewer is set to retire from her position as president and chief executive officer of Sam’s Club, effective February 1. Brewer, who has led Walmart’s warehouse club division since February 2012, will be replaced by John Furner, who currently serves as chief merchandising officer at Sam’s Club, with responsibility for overseeing
CHESAPEAKE, Va. — Former Walmart executive Duncan Mac Naughton is joining Dollar Tree Inc. as president and chief operating officer of the company’s Family Dollar chain. He will report to Gary Philbin, who has been promoted to a new role as enterprise president of Dollar Tree. Mac Naughton has more than 30 years of leadership
HOFFMAN ESTATES, Ill. — Sears Holdings Corp. has announced plans to close 150 non-profitable stores and sell its Craftsman tools brand. The moves are part of a strategic plan to stem losses and strengthen the struggling retailer’s financial prospects. The company has also arranged new financing, in the form of a new $500 million real estate
DEERFIELD, Ill. — Walgreens Boots Alliance (WBA) edged past Wall Street’s adjusted earnings per share forecast in its fiscal 2017 first quarter despite declined sales and net income. WBA also reported Thursday that it’s still working to finalize its $17 billion deal to acquire Rite Aid Corp. and continues to expect to complete the transaction
SAN FRANCISCO and TORONTO — McKesson Corp. has closed its $2.1 billion (U.S.) acquisition of Canadian drug chain Rexall Health and hired Domenic Pilla as chief executive officer of McKesson Canada. Earlier this month, McKesson gained clearance from the Competition Bureau of Canada to finalize the Rexall Health acquisition, which was announced in early March.
MEMPHIS, Tenn. — Fred’s Inc. has adopted a shareholder rights plan, also known as a “poison pill,” after a hedge fund recently became the company’s single largest shareholder. Fred’s said Tuesday its board instituted the shareholder rights plan after observing “unusual and substantial activity in the company’s shares.” The discount and pharmacy retailer noted that
CAMP HILL, Pa. — Rite Aid Corp. said slim reimbursement rates, new generic drugs and the ongoing antitrust talks for the merger with Walgreens Boots Alliance (WBA) squeezed sales and earnings for its fiscal 2017 third quarter. Rite Aid said Thursday that for the third quarter ended Nov. 26, sales dipped 0.8% to $8.09 billion
NEW YORK — Walgreens Boots Alliance Inc. (WBA) and Rite Aid Corp. have entered into an agreement to sell 865 Rite Aid stores and certain assets related to store operations to Fred’s Inc. for $950 million. The all-cash transaction is subject to Federal Trade Commission approval, as well as the completion of the pending acquisition
CINCINNATI — Kroger Co. announced it is offering a voluntary retirement option for up to 2,000 non-store associates in a cost-cutting move. “Kroger would not be the successful company it is today without the incredible efforts of all of our associates. We believe a generous voluntary retirement offering is in line with our company values
NEW YORK — CVS Health’s integrated pharmacy care model makes it a “partner of choice” in the health care arena, president and chief executive officer Larry Merlo said at the company’s annual Analyst Day event in Manhattan. Merlo and senior CVS Health executives gathered in New York on Thursday to give the investment community an
SAN FRANCISCO — McKesson Corp. has been given the green light from the Competition Bureau of Canada to finalize its $2.2 billion acquisition of drug chain Rexall Health. McKesson said Wednesday that under the consent agreement it signed with the bureau, it must sell a total of 26 Rexall drug stores in Alberta, British Columbia,