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2019

Target Named Retailer of Year by MMR

Target Named Retailer of Year by MMR

MINNEAPOLIS — Target Corp. is hitting the bullseye. Target headed into the 2018 holiday season bolstered by a strong third quarter performance that included a 5.1% increase in comparable sales, a 49% gain in digital channel sales and a 5.3% increase in customer traffic. Total revenue for the three months ended November 3 was $17.8

Holiday sales inspire optimism

NEW YORK — Robust holiday shopping from before Thanksgiving through Christmas has raised hopes for continued strength in the retail sector. According to Mastercard SpendingPulse, holiday sales increased 5.1% to more than $850 billion — the strongest growth in six years. And online shopping jumped 19.1%, with Amazon reporting record-breaking results. “While we recognize the

Consumer Index trending down

NEW YORK — The Conference Board Consumer Confidence Index decreased in December, following a modest decline in November. The Index now stands at 128.1 (1985=100), down from 136.4 in November. The Present Situation Index — based on consumers’ assessment of current business and labor market conditions — declined slightly, from 172.7 to 171.6. The Expectations

WBA taps three for leadership posts

DEERFIELD, Ill. — Last month Walgreens Boots Alliance (WBA) announced three global leadership appointments. Vineet Mehra is joining WBA as global chief marketing officer. He will be based at corporate headquarters here and will report to WBA co-chief operating officers Ornella Barra and Alex Gourlay. As global CMO, Mehra will be responsible for the visioning,

Grocery outlet names Lindberg CEO

EMERYVILLE, Calif. — Last month, Grocery Outlet Bargain Market’s board of directors appointed Eric Lindberg chief executive officer and MacGregor Read vice chairman, effective January 1. Lindberg and Read previously held the positions of co-CEOs. Lindberg joined Grocery Outlet in 1996 and began his tenure in operations before advancing through positions in retail marketing and

CVS’ MinuteClinic rolls out virtual health care

WOONSOCKET, R.I. — Last month, CVS Health announced that MinuteClinic rolled out its new virtual health care offering to people in Wyoming and New Mexico. Residents with minor illnesses and injuries, skin conditions and other wellness needs in those states can now seek care through MinuteClinic Video Visits, a telehealth offering. MinuteClinic Video Visits provide

New law paves way for CBD market’s continued growth

WASHINGTON — Hemp-based cannabidiol (CBD) is poised to move further into the mainstream in 2019 after Congress renewed the U.S. Farm Bill last month and President Trump signed the legislation into law. The legislation, which charts a course for federal farm policy and funds programs administered by the Department of Agriculture, also removed industrial hemp

GSK, Pfizer create joint venture

WARREN, N.J. — Pfizer Inc. and GlaxoSmithKline PLC (GSK) have entered into an agreement that will create a premier global consumer health care company with robust iconic brands. The boards of directors of both companies have unanimously approved the transaction under which Pfizer will contribute its consumer health care business to GSK’s existing consumer health

Turbulent times for retailers

Turbulent times for retailers

The just concluded holiday selling season was a good one for most retailers. Ample anecdotal evidence of strong consumer demand was confirmed shortly after Christmas in a report issued by Mastercard. Based on tracking of retail activity within the credit card company’s network, supplemented with survey-based projections for such forms of payment as cash and