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Issue 02-20-2012

CVS raises outlook

WOONSOCKET, R.I. — Early results in 2012 show CVS Caremark Corp. reaping more benefit than expected from the dispute between rival Walgreen Co. and Express Scripts Inc. Consequently, CVS management has increased its earnings guidance for the first quarter and full 2012 fiscal year. Early results in 2012 show CVS Caremark Corp. reaping more benefit

On balance, January is good to mass retailers

NEW YORK — Mass market retailers experienced varied fortunes during January, as big chains generally fared better than regional players. Unseasonably warm weather during the month was the scapegoat not only for apparel retailers but for regional discount chains as well. Mass market retailers experienced varied fortunes during January, as big chains generally fared better

McKesson to buy two Katz businesses

MISSISSAUGA, Ontario — Katz Group Canada has agreed to sell its Drug Trading Co. and Medicine Shoppe Canada to McKesson Corp. for $920 million (Canadian). Katz Group Canada has agreed to sell its Drug Trading Co. and Medicine Shoppe Canada to McKesson Corp. for $920 million (Canadian). The deal will see McKesson acquire all of

H-E-B makes a big bet on Austin, Texas

AUSTIN, Texas — H-E-B has brought its Hispanic-oriented Mi Tienda format to Texas’ state capital as part of a $100 million commitment to the market. H-E-B has brought its Hispanic-oriented Mi Tienda format to Texas’ state capital as part of a $100 million commitment to the market. H-E-B is expanding, relocating and remodeling stores throughout

Target knows urban shoppers

EDGEWATER, N.J. — When Target Corp. unveils its new CityTarget format later this year the stores will undoubtedly benefit from the wealth of experience and insight that Target has gained from its stores in such major urban markets as New York; Washington, D.C.; and Chicago. When Target Corp. unveils its new CityTarget format later this

Walmart China gets new leader

SHANGHAI — Walmart has named former Woolworths Ltd. executive Greg Foran to head its business in China. Walmart has named former Woolworths Ltd. executive Greg Foran to head its business in China. Foran, an industry veteran but a relative newcomer to China, is taking over what many see as a strategically crucial business for the

Supervalu to cut 800 employees

MINNEAPOLIS — Supervalu Inc. has unveiled a plan to reduce its national workforce by an estimated 800 positions. Supervalu Inc. has unveiled a plan to reduce its national workforce by an estimated 800 positions. Executives say most of the reductions will be made by the close of Supervalu’s fiscal year on February 25. The jobs

Shoppers are high on Costco

YONKERS, N.Y. — Shoppers across the country rated Costco Wholesale Corp. as offering the most pleasant shopping experience, a Consumer Reports survey in the magazine’s March issue finds. Shoppers across the country rated Costco Wholesale Corp. as offering the most pleasant shopping experience, a Consumer Reports survey in the magazine’s March issue finds. In polling

Mass retailing is alive and well

Mass retailing has never been more prosperous — or exciting. Mass retailing has never been more prosperous — or exciting. Consider the trade class — grocery, drug, discount — and compelling advancements and dynamic new formats are becoming the norm. The cumulative result is that the entire mass retailing segment is more enticing, more productive

Walgreens has to be ready for long haul

Walgreens recently released its first monthly sales report since parting ways with Express Scripts, and the numbers, while not unexpected, are sobering. Total volume at the drug chain declined 2.3% in January and comparable-store sales were off 4.6%. Walgreens recently released its first monthly sales report since parting ways with Express Scripts, and the numbers,