PHILADELPHIA — Rite Aid Corp. reported a narrower first quarter loss than analysts had projected, and beat revenue forecasts. The company posted an adjusted loss per share of 73 cents, which was much better than Wall Street’s estimated loss of $1.50. Revenue for the period ended June 3 dipped to $5.65 billion from $6.02 billion
Make no mistake: In mass retailing, as in other fields of endeavor, this is truly the Age of the Woman. Forget the stories that name the 10, 20 or even 50 most important women in mass retailing. Women have gone far beyond that. Indeed, they have come to exert an impact on the mass retailing
After being frozen in place since the beginning of the COVID pandemic, the wheels of innovation are turning once again. Concerns about the supply chain and the need to keep products in stock have subsided to the point where leaders of drug, discount and grocery chains and their counterparts in the vendor community are shifting
The shopping cart has been around since the late 1930s, and most consumers probably don’t give it a second thought. It’s just a part of the shopping experience — something simple and basic that just works. But it’s worth remembering that the need for shopping carts was not obvious before they arrived on the scene,
First, there was the “great resignation;” then came “quiet quitting.” And now we’re seeing the “quiet hiring” and “fractional hiring” trends build momentum as companies continue to struggle to fill critical talent gaps, and scale up or down as needed to meet changing business needs in a dynamic marketplace. The good news is that the
FAYETTEVILLE, Ark. — The Walmart that Doug McMillon presides over is a different place than it was when he became chief executive officer nine years ago. At the time, some industry observers viewed the company as too vast and deeply rooted in brick-and-mortar retailing to compete effectively in the age of e-commerce. With McMillon’s prodding,
DEERFIELD, Ill. — Walgreens will be cutting over 500 jobs, mostly at its headquarters here and its Chicago office. About 10%, or 504, of the company’s corporate employees will be laid off, Walgreens spokesman Marty Maloney confirmed, noting that none of the staff at stores, micro-fulfillment centers, or call centers will be affected. Maloney said
NEW YORK — Albertsons Cos. and Rite Aid Corp. are among mass retailers enhancing their store brand offerings as growth of the brands continues to outpace gains by national brands. The Private Label Manufacturers Association (PLMA) reported store brand sales increased 11.3% last year as national brand sales increased 6.1%. In volume terms, store brand
WASHINGTON — U.S. retailers and industry groups representing them are lauding the latest bipartisan effort to diminish the power of credit card giants Visa and Mastercard. The move comes as lawmakers in the Senate and House reintroduced The Credit Card Competition Act, which allows merchants to get a choice of at least two routing networks
GOODLETTSVILLE, Tenn. — Dollar General Corp.’s first quarter sales increased 6.8%, but its operating profit declined slightly, to $740.9 million, as the retailer confronted a macroeconomic environment that was “more challenging than expected,” said chief executive officer Jeff Owen. Same-store sales were up 1.6% in the period ended May 5, while diluted earnings per share
GRAPEVINE, Texas — Shoplifting and other retail crime has become a topic of concern for consumers as well as retailers themselves, according to a recent survey conducted for the National Retail Federation (NRF). More than half (53%) of consumers believe retail crimes such as shoplifting and looting stores have increased in their community since the
GOODLETTSVILLE, Tenn. — Dollar General Corp. has promoted company veteran Steve Deckard to the newly created role of executive vice president for growth and emerging markets, in one of a number of recent leadership moves. Deckard, who most recently served as senior vice president of emerging markets and led the company’s international expansion into Mexico,