CAMP HILL, Pa. — Rite Aid Corp. has completed debt refinancing transactions extending the maturity of a portion of its outstanding indebtedness and lower interest expense. Rite Aid Corp. has completed debt refinancing transactions extending the maturity of a portion of its outstanding indebtedness and lower interest expense. The transactions included the amendment and restatement
Recent events have confirmed a fact that the brightest and more perceptive retail analysts have long since realized: Mass retailing is at the dawn of a new era of merchant dominance. Recent events have confirmed a fact that the brightest and more perceptive retail analysts have long since realized: Mass retailing is at the dawn
Technology is forever altering the practice of mass market retailing. Technology is forever altering the practice of mass market retailing. Amazon and other Internet-based merchants are mounting a significant challenge to brick-and-mortar chains in categories ranging from books and electronics to toys and health and beauty care. Traditional retailers have responded by augmenting their business
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
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
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
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.
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.
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
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
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)