Finance & Capital Management

January same-store sales grew 4% at Costco’s U.S. locations excluding fuel sales.

Los Angeles -- Survey results released Thursday by PriceGrabber found that 62% of consumers plan to spend as much as $100 on gifts for Valentine’s Day, down from 68% in 2012. However, 36% plan to spend more than $100 compared with 28% last year.  

New York -- Verizon Communications on Thursday elected Greg Wasson, Walgreens president and CEO, to the Verizon board of directors, effective March 1.

"Greg Wasson brings to Verizon an in-depth knowledge of the retail and healthcare industries," said Lowell McAdam, Verizon

chairman and CEO. "He offers a unique perspective as the leader of a successful Fortune 50 company focused on innovation,

traditional and nontraditional growth, operational and technical excellence, and multichannel integration.”

Home Depot expects to be busy this spring and is hiring 80,000 seasonal employees, 10,000 more than last year, to keep pace with the demand.

The hiring announcement by Home Depot follows a similar announcement by Lowe’s two weeks earlier that it planned to hire 45,000 seasonal employees. The increased hiring levels suggest the nation’s two largest home improvement retailers are optimistic about consumers demand amid a recovery in the housing market.

Washington -- President Obama has selected Sally Jewell, president and CEO of Recreational Equipment Inc., to lead the Interior Department, White House officials said Wednesday.

Jewell, a former banker and Mobile Oil Corp. executive, is an outdoors enthusiast and conservation advocate. She joined the board of REI in 1996, and was appointed COO in 2000. In 2005, she was named CEO. The outdoor retailer expanded significantly under her leadership, and now generates some $2 billion in annual revenues.

WOONSOCKET, R.I. — CVS Caremark executives expressed optimism Wednesday morning as the company posted record fourth-quarter results, raised its 2013 guidance and continues to work to leverage its distinctive business model to help people on their path to better health amid a rapidly changing healthcare environment.

New York -- CVS Caremark Corp. bought Drogaria Onofre, a 44-store drug store based in San Paulo, Brazil, last week, Reuters reported. It marks the first time CVS has expanded outside the United States.
 
"We view Brazil as an attractive market given that healthcare and pharmacy are expected to grow double digits for the next decade," CVS CEO Larry Merlo told Reuters. "It's still a highly-fragmented market, so we see nice opportunity to grow the business over time."

CINCINNATI — Kroger has promoted Jeff Burt, formerly group VP perishables, merchandising and procurement, to president of the company's Central division. Kroger's Central Division operates 136 food stores primarily in Indiana and Illinois.

Mr. Burt, 50, has been group vice president of perishables merchandising and procurement since 2010. He succeeds Bob Moeder, who recently announced his plans to retire this spring.