SEATTLE — Amazon’s stock market valuation briefly topped $1 trillion this month, vaulting the online retailer into the exclusive club of $1 trillion companies alongside Apple Inc., which had hovered just below that valuation before a strong third quarter earnings report on August 2 pushed its share price to $207.04. Amazon hit the $1 trillion
COLUMBUS, Ohio — Big Lots Inc. has named Bruce Thorn as president and chief executive officer. He is expected to officially take the positions by the end of September, when he will also be appointed as a director. Thorn succeeds David Campisi, who retired from his positions as board member, president and CEO in April.
NEW YORK — Walmart and Kroger Co. — the nation’s two largest grocery retailers, in terms of sales — have each launched experiments aimed at bringing down costs associated with the final leg or “last mile” of delivery to consumers. Kroger last month announced a pilot program to test driverless grocery delivery. The supermarket chain
NEW YORK — Online grocer FreshDirect announced that chairman and chief executive officer Jason Ackerman has stepped down, nearly two decades after helping to establish the company. Cofounder David McInerney has agreed to move into the corner office and will take a seat on the board, the company said in a statement earlier this month.
DEERFIELD, Ill. — Walgreens and Fred’s have entered into a definitive asset purchase agreement, where Walgreens will purchase pharmacy patient prescription files and related pharmacy inventory of 185 Fred’s stores located across 10 Southeastern states. Under the terms of the agreement, the aggregate consideration to be paid by Walgreens to Fred’s is $165 million, subject
DENVER — The emerging trade war that the White House is waging against much of the world could jeopardize gains retail pharmacy leaders have made in transforming their businesses and the industry, Steve Anderson, president and chief executive officer of the National Association of Chain Drug Stores, said last month in welcoming retailers and suppliers
GRAND RAPIDS, Mich. — Meijer Inc. has introduced two store concepts that the retailer is testing as it seeks new ways to reach shoppers. The smaller-format outlets are part of an expansion drive that also produced two traditional supercenters that opened in its home state earlier this summer. Company officials said results of the experiment
SALISBURY, N.C. — Food Lion last month unveiled remodeled stores in the Norfolk, Va., the latest of the chain’s markets to get store upgrades as part of an initiative called “Easy, Fresh and Affordable … You Can Count on Food Lion Every Day!” The strategy involves improvements throughout the stores, from the expansion of product
CARLISLE, Pa. — Giant Food Stores announced that its supermarket in Cleona, Pa., is the first among its more than 170 stores in four states to achieve zero-waste status, meaning the store has diverted at least 90% of its solid waste away from landfills and incinerators. Giant Food has committed to becoming a zero-waste supermarket
WASHINGTON — Retail industry employment last month increased by 89,100, unadjusted for seasonal fluctuations, compared to the same month in 2017, the National Retail Federation (NRF) reported. The August retail employment figure represents a seasonally adjusted decline of 9,700 jobs from the previous month, NRF said. Seasonal distortions are common in August. NRF’s jobs figures
DENVER — Research has shown that companies with diverse management teams, including more women in leadership roles, perform better than their less diversely led peers. But women are underrepresented in the top management of retail and health care companies in the United States, and a new organization called WE was launched at the National Association
COSTA MESA, Calif. — Customer satisfaction with pharmacies continues to score high in the 10th annual U.S. Pharmacy Study from J.D. Power and Associates. Key factors include the availability of health and wellness services in brick-and-mortar pharmacies and the timeliness of delivery for mail order pharmacies, the firm announced last month. On the brick-and-mortar side,