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DEERFIELD, Ill. – With Richard Ashworth’s resignation as Walgreens president to lead Tivity Health Inc., one thread in the drug chain’s storied history is coming to an end, even as the overarching narrative of its transformation continues. Ashworth – whose duties are being assumed by Walgreens Boots Alliance co-chief operating officer Alex Gourlay, whom he
BOISE, Idaho — Albertsons Cos. plans to sell a 17.5% stake to the private equity firm Apollo Global Management for $1.75 billion. The deal, announced Wednesday, is expected to close by June 15. “Albertsons Companies is pleased to work with Apollo and its co-investors,” Albertsons president and CEO Vivek Sankaran said in a statement. “Apollo
MINNEAPOLIS — Target beat sales expectations in the first quarter, with total revenue that grew 11.3% compared to last year. Earnings fell as consumers spent less on higher margin products like apparel, and the retailer boosted wages and spending on safety measures related to COVID-19. Target’s total comparable sales grew 10.8% in the first quarter,
BENTONVILLE, Ark. — Walmart posted strong sales gains across its businesses in the first quarter, with demand driven by the COVID-19 outbreak. Unprecedented demand for products across multiple categories led to strong top-line results. But certain incremental costs negatively affected operating income, including costs associated with enhanced wages and benefits as well as safety and
WASHINGTON — Retail sales dropped almost twice as much during April as they did in March, reflecting the first full month when most stores were closed because of the coronavirus pandemic, the National Retail Federation said on Friday. The U.S. Census Bureau reported that overall retail sales during April were down 16.4% seasonally adjusted from
WASHINGTON – To reopen the nation successfully and to suppress future COVID-19 outbreaks, the National Association of Chain Drug Stores (NACDS) is urging government actions supporting three key objectives that are crucial for the health of all Americans, and especially for those who are left behind economically and medically. These actions relate directly to testing,
CINCINNATI – Kroger Co. has hired more than 100,000 people in the past eight weeks, the company said Thursday, providing new career opportunities to workers from such hard-hit sectors as restaurants, hotels and food service distributors. “Throughout the pandemic, Kroger’s top priority has been to provide and maintain a safe environment for our associates and
BENTONVILLE, Ark. — Walmart announced plans to pay another round of cash bonuses to all hourly employees in the United States. The payments “recognize them for their many contributions to communities across the country during this unprecedented time,” the company said. Eligible for the cash payments are hourly workers in stores, clubs, the supply chain,
ZAANDAM, the Netherlands — Ahold Delhaize posted strong sales gains in its fiscal first quarter, the company announced Thursday, as consumers visited its stores in the U.S. and in Europe to stock up on food and other necessities during the COVID-19 pandemic. The company reported first quarter net sales of €18.2 billion ($19.47 billion), up
WASHINGTON – Stay-at-home orders are being eased and non-essential stores are reopening in many parts of the country. But the rebound in retail sales is likely to be gradual, and will vary by location, National Retail Federation chief economist Jack Kleinhenz predicted on Wednesday. “Getting back to work or shopping in a pre-virus manner is
WOONSOCKET, R.I. — Strong sales during the early stage of the coronavirus pandemic helped lift CVS Health’s first quarter earnings well above Wall Street’s projection. The company’s adjusted earnings per share of $1.91 easily topped analysts’ prediction of $1.63. The comparison is skewed however, by the inability of forecasters to have projected the extent of
NEW YORK — Retail sales in the United States are expected to fall 5.1% this year, according to the data and analytics firm GlobalData, which said the projected decline will amount to more than $200 billion. That will be a bigger drop than any other country in terms of total value, and as a percentage