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ISSAQUAH, Wash. — Costco Wholesale Corp. reported sales and earnings gains for its fiscal fourth quarter and year, and said it has expanded delivery options for its customers. The warehouse club operator said that its net sales for the 17-week fourth quarter ended September 3 were $41.36 billion, an increase of 15.8% compared to the
BENTONVILLE, Ark. —Walmart has acquired Parcel, a company specializing in same-day delivery of perishable and non-perishable goods to customers in New York City. “Delivery is increasingly one of the most important elements for today’s online shoppers, as demands for speed, flexibility, and reliability continue to grow,” Nate Faust, senior vice president, Walmart U.S. e-commerce supply
MONTREAL — Just days after confirming talks about a potential deal, Metro Inc. and the Jean Coutu Group have agreed to merge. The companies said Monday that Metro plans to acquire Jean Coutu Group for $24.50 per share in cash and stock in a total deal valued at $4.5 billion ($3.6 billion U.S.). Under the
CAMP HILL, Pa. — Former Walgreen Co. pharmacy chief Kermit Crawford is joining Rite Aid Corp. as president and chief operating officer. Rite Aid said Thursday that Crawford is slated to start in the post on Oct. 5 and report to chairman and chief executive officer John Standley. Most recently at Walgreens, Crawford was a
MONTREAL — The Jean Coutu Group is in advanced negotiations for a potential acquisition by food and drug retailer Metro Inc. Jean Coutu and Metro confirmed the discussions noontime on Wednesday after the Investment Industry Regulatory Organization of Canada (IIROC) said in the morning that trading of shares for both companies had been halted. Under
MINNEAPOLIS — Target Corp. on Monday said it will raise its minimum wage to $11 an hour in October. A further increase, to $15 an hour, is promised by the end of 2020. The retailer said the increases will allow it to continue to recruit and retain good people, who in turn will provide a
BOISE, ID — Albertsons Cos. has agreed to acquire the meal kit service company Plated. Terms of the deal were not disclosed. The grocery retailer says the move reflects its determination to keep up with consumers’ changing lifestyles and food preferences. “Today’s consumer is looking for a variety of personalized shopping alternatives, and this transaction
NEW YORK — The impending closure of Walgreens Boots Alliance’s purchase of nearly 2,000 Rite Aid stores will clear the fog around both companies since their terminated merger deal and enable them to move ahead, Wall Street analysts say. WBA and Rite Aid yesterday announced that the Federal Trade Commission approved a downsized agreement in
DEERFIELD, Ill. — Walgreens Boots Alliance Inc. (WBA) announced today that it has secured regulatory clearance for an amended and restated asset purchase agreement to purchase 1,932 stores, three distribution centers and related inventory from Rite Aid Corp. for $4.375 billion in cash and other consideration. The amended and restated purchase agreement between the parties
CHESAPEAKE, Va. — Gary Philbin has been named president and chief executive officer of Dollar Tree Inc. The move is part of a planned leadership succession in which Bob Sasser, the company’s CEO since 2004, has assumed the role of executive chairman of the board. Sasser, 65, joined Dollar Tree in 1999 as chief operating
CINCINNATI — Kroger Co.’s culinary development team announced on Thursday a new restaurant concept, Kitchen 1883, offering diners a fresh take on comfort food. The restaurant is set to open late next month in Union, Ky., about 16 miles southeast of Cincinnati. The name is a nod to the year Kroger was founded. Kitchen 1883’s
BENTONVILLE, Ark. — Walmart is streamlining its U.S. store operations in order to respond more quickly to change, according to published reports. The consolidation will reportedly organize retailer’s domestic store operations into four divisions, down from six. As part of the restructuring, Wal-Mart will also have 36 regional managers instead of 44, a source told