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CAMP HILL, Pa. — Rite Aid Corp.’s third quarter sales climbed 12% to $6.12 billion, but adjusted earnings slipped to 40 cents a share from 54 cents a year earlier, hurt by elevated expenses. Still, both sales and earnings beat Wall Street’s estimates. Net income for the quarter ended November 28 was $4.3 million, down
WASHINGTON – Retail sales slipped in November compared to the month before, as the surging pandemic suppressed store traffic. But sales were still up compared to last November, and the National Retail Federation still expects a happy holiday season for retailers. “Consumers held back on spending in November as virus rates spiked, states imposed retail restrictions and
Nicholas Hall is one of the world’s leading experts on consumer health care. In this week’s Video Forum, Hall, executive chairman and creative solutions director at the Nicholas Hall Group of Cos., analyzes the trends shaping the O-T-C business. The impact of e-commerce, sources of innovation, and emerging growth categories are among the topics addressed.
ARLINGTON, Va. – The FMI and the National Association of Chain Drug Stores were among the groups that praised a Thursday Supreme Court ruling that they say restored a pro-pharmacy, pro-consumer Arkansas law that, among other things, required pharmacy benefit managers to reimburse pharmacies at or above what the pharmacies paid to acquire certain medications.
SALISBURY, N.C. — Food Lion has completed the remodels of 112 stores across Delaware, Maryland, Pennsylvania, Virginia and West Virginia, the retailer said Wednesday. The $212.5 million investment in a better shopping experience for consumers — which includes the hiring of more than 2,300 associates, will generate $360 million in economic impact across the 112
Dan Leonard, longtime leader of the National Pharmaceutical Council who became CEO of the Association for Accessible Medicines in September, discusses the impact of generic medications on health care, and the challenges and opportunities facing the industry. Among the issues addressed are generics’ role in treating COVID-19 patients, the emergence of biosimilars, and the Medicaid
CINCINNATI — Kroger reported third quarter comparable store sales growth that beat Wall Street expectations, increasing 10.9% (excluding fuel). Digital sales grew by 108%. The retailer’s earnings also topped expectations. Kroger earnings for the three months ended November 7 were $631 million, or 80 cents per share. That compares to $263 million, or 32 cents
BENTONVILLE, Ark. – Walmart is removing the $35 minimum on online purchases eligible for free shipping to members of its Walmart+ subscription service. The retailer introduced Walmart+ last summer as a subscription service priced at $98 a year and promising same-day delivery of groceries and general merchandise, as well as perks such as discounts on
In this week’s Video Forum, Vivek Sankaran, president and CEO of Albertsons Cos., talks about the need to remain nimble and flexible as consumer behavior changes, the company’s response to COVID-19, Albertsons’ growth strategy, and more.
NEW YORK — The COVID-19 surge has convinced many consumers to shop from home on Black Friday, according to the Deloitte 2020 Pre-Thanksgiving Pulse Survey released today. For the first time since the survey’s inception, more consumers plan to shop online (61%) than in-store (54%) on Black Friday. “As COVID-19 brings added health and financial concerns, both consumers and retailers are
CHESAPEAKE, Va. — Dollar Tree Inc. plans to expand its multi-price Dollar Tree Plus! initiative into about 500 stores beginning in the spring of 2021, the company said Tuesday. The announcement came as the retailer reported increased sales and profits for its fiscal third quarter ended October 31. Consolidated net sales increased 7.5% to $6.18
WOONSOCKET, R.I. — Neela Montgomery has been named executive vice president of CVS Health and president of the company’s CVS Pharmacy retail unit, with responsibility for overseeing the company’s 10,000 U.S. pharmacies, the company said Monday. Her appointment is effective November 30. “Neela is a seasoned retail industry leader with extensive digital and e-commerce experience,”