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MINNEAPOLIS — Target Corp. announced Wednesday that it has agreed to acquire the same-day delivery company Shipt Inc. for $550 million in cash. The retailer said Shipt’s technology platform and its community of professional shoppers, together with Target’s own network of stores, will allow it to quickly and efficiently phase in same-day delivery throughout the
TORONTO — Jeff Leger has been named president of Shoppers Drug Mart, succeeding Mike Motz, who has been promoted to chief operating officer of SDM parent Loblaw Cos. Loblaw confirmed Leger’s appointment on Tuesday. He previously served as executive vice president of pharmacy and health care for both Loblaw and Shoppers Drug Mart stores. Prior
SALISBURY, N.C. — Food Lion said it will celebrate its 60th anniversary Tuesday by offering its customers a chance to win gift cards or discounts on their purchases. “It is an honor to celebrate 60 years of low prices, fresh products and community involvement with our company today,” said Food Lion President Meg Ham. “The
GOODLETTSVILLE, Tenn. — Dollar General Corp. reported strong financial results for its 13-week fiscal 2017 third quarter ended November 3. “We are pleased with our overall third quarter results, which include a strong same-store sales growth of 4.3% and increases in both average transaction amount and customer traffic over the 2016 third quarter. During the
BENTONVILLE, Ark. — The world’s largest retailer is officially changing its legal name from Wal-Mart Stores Inc. to Walmart Inc. The change, which takes effect with the start of the company’s new fiscal year on February 1, is meant to reflect the company’s shift from an operator of stores to one that increasingly lets its
WOONSOCKET, R.I. — Following mounting speculation over the past month, CVS Health has unveiled a cash-and stock-deal to acquire health insurer Aetna Inc. for $69 billion. CVS and Aetna said Sunday evening that under the merger pact, Aetna shareholders will receive about $207 per share, including $145 in cash and 0.8378 CVS shares for each
CINCINNATI — Kroger reported third quarter sales and earnings that topped analysts expectations, and the company said it was upbeat about its prospects for the holiday season. The supermarket retailer reported a 1.1% increase in same-store sales, excluding fuel, in the quarter. That topped an average analyst forecast of a 0.9% gain, according to Consensus
BOISE, Idaho — Albertsons Cos. has signed a deal with Instacart to offer same-day grocery deliveries in more than 1,800 stores by mid-2018, the company announced Tuesday. “Instacart’s extensive delivery network combined with Albertsons Companies’ existing home delivery services and established, robust e-commerce offering creates a fantastic customer proposition,” said Albertsons chief marketing and merchandising
CHESAPEAKE, Va. — Dollar Tree Inc.’s third quarter sales and earnings topped expectations, helped by higher transaction counts and bigger basket sizes. “Our team delivered terrific results in the third quarter,” Dollar Tree president and chief executive officer Gary Philbin said in a statement. “Same-store sales accelerated in both the Dollar Tree and Family Dollar
CAMP HILL, Pa. — Rite Aid Corp. has announced major changes in its executive ranks, following the announcement of the retirements of Tony Montini, executive vice president of merchandising and distribution, and Bill Bergin, group vice president of health and beauty. The changes include the promotion of Bill Renz, Rite Aid’s group vice president of
BENTONVILLE, Ark. — Walmart reported better-than-expected comparable store sales gains in the third quarter. The company’s online business was also strong, with net e-commerce sales increasing 50% in the quarter. “We are pleased with the strong results in the quarter across each of our business segments,” Walmart president and chief executive officer Doug McMillon said,
MINNEAPOLIS — Target Corp.’s third quarter sales and earnings beat expectations, and the company said it is upbeat about its prospects for the holiday season. But the company’s fourth quarter profit outlook disappointed Wall Street, sending its shares down in early trading on Wednesday. Target forecast adjusted earnings of $1.05 to $1.25 per share for