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Issue 02-25-2013

Platform for growth

LONDON — The leaders of Walgreen Co. and Alliance Boots PLC envision a combined company that, by 2016, has: annual sales of $130 billion or more, adjusted operating income of between $9 billion and $9.5 billion, savings from synergies totaling $1 billion, and an operating cash flow of $8 billion or more. The leaders of

Magnacca new CEO at RadioShack

DEERFIELD, Ill. — Joe Magnacca has left Walgreen Co. to become chief executive officer at RadioShack Corp. Joe Magnacca has left Walgreen Co. to become chief executive officer at RadioShack Corp. The 50-year old executive’s decision came just a week after he was promoted to executive vice president by Walgreens. Vice president of well experience

Harris Teeter weighs bids for company

MATTHEWS, N.C. — Harris Teeter Supermarkets Inc. has broken its long-standing policy of not commenting on rumors to confirm reports that it has retained J.P. Morgan Securities LLC to help it explore two recent offers to buy the company. Harris Teeter Supermarkets Inc. has broken its long-standing policy of not commenting on rumors to confirm

Payroll tax hike takes toll on January sales

NEW YORK — Retail sales limped ahead last month as consumers adjusted their spending in response to the increase in payroll taxes and rise in gasoline and energy prices. Retail sales limped ahead last month as consumers adjusted their spending in response to the increase in payroll taxes and rise in gasoline and energy prices.

Deal takes CVS beyond the U.S.

WOONSOCKET, R.I. — CVS Caremark Corp. has acquired the Brazilian drug chain Drogaria Onofre. CVS Caremark Corp. has acquired the Brazilian drug chain Drogaria Onofre. Terms of the deal for the 44-store São Paulo-based company were not disclosed. In December reports said that if CVS Caremark acquired the chain, it would pay about $313 million.

Meijer to invest in store remodeling

GRAND RAPIDS, Mich. — Meijer Inc. will spend more than $160 million this year to remodel and open stores. Meijer Inc. will spend more than $160 million this year to remodel and open stores. Executives say the investment includes the construction of six new supercenters (two each in Michigan, Indiana and Illinois) and the remodeling

‘Dream team’ to launch major discount venture

ST. LOUIS — Five discount retail veterans have united to create a wholesale, retail and ­e-commerce venture. Five discount retail veterans have united to create a wholesale, retail and ­e-commerce venture. The founders bring to the new enterprise more than 200 years of combined experience in what is being billed as a value-based retail "dream

Jurgens is honored by FMI

SCOTTSDALE, Ariz. — Ric Jur­gens, who retired last year as chairman and chief executive officer of Hy-Vee Inc., has received the Food Marketing Institute’s (FMI’s) most prestigious honor, the Sidney R. Rabb Award. Ric Jur­gens, who retired last year as chairman and chief executive officer of Hy-Vee Inc., has received the Food Marketing Institute’s (FMI’s)

Shopping remade

CHICAGO — Consumers have drastically changed their approach to shopping over the past decade. They combine online and offline planning with in-store visits to make more informed and cost-effective purchasing decisions. Consumers have drastically changed their approach to shopping over the past decade. They combine online and offline planning with in-store visits to make more

Supermarketers get creative

After an extended period of inertia fueled by a false sense of invulnerability and a misplaced emphasis on the endurance of traditional approaches to food retailing, America’s grocery retailers have begun to revive the creative approach to business that once made them the darlings of the U.S. retailing community. After an extended period of inertia

Global market will test big U.S. drug chains

Recent events reinforce the commitment by the top two American drug chains to participate in the ongoing globalization of mass market retailing. Recent events reinforce the commitment by the top two American drug chains to participate in the ongoing globalization of mass market retailing. After pondering its international options for several years, CVS Caremark entered