Finance & Capital Management

New York City -- The global PC-based point-of-sale market grew a solid 6.9% in 2010, according to new research from IHL Group, a global research and advisory firm.

Shipments grew in all four major worldwide regions (North America, Europe/Middle East Africa, Latin/South America, and Asia/Pacific). Strong double-digit growth in the Asia/Pacific region was driven by new shipments in China, India, Korea, and Indonesia, according to the research. 

WOONSOCKET, R.I. — As previously announced and widely reported, March 1 marks the day that Larry Merlo officially assumes the role of CEO of CVS Caremark. Merlo, who now serves as president and CEO, succeeds Tom Ryan, who remains nonexecutive chairman until his retirement at the company's Annual Meeting of Shareholders in May.

Phoenix -- PetSmart's fourth-quarter net income rose 20%, helped by more customer transactions and a strong holiday season.

The chain's net income rose to $90.3 million from $75 million in the same period last year. Revenue rose 8% to $1.52 billion. Same-store sales were up 6.3 %.

For the year, net income increased 21% to $239.9 million. Revenue rose 6% to $5.04 billion.

SEATTLE -- Recreational Equipment Inc. announced that Sue Sallee joined the company in the newly created position of VP accounting and finance. The company has also promoted Angela Owen, Tim Spangler and Tom Vogl to SVPs  of the merchandising, retail, and marketing divisions respectively.

Retailer demand for new locations is up across the board, according to ChainLinks Retail Advisors’ just-released National Retailer and Restaurant Expansion Guide. The report details the current expansion plans for hundreds of the largest U.S. retail and restaurant chains.

“As 2010 came to a close, growth plans were up 30% from the levels we recorded last year,” said ChainLinks’ research director, Garrick Brown,/ Right now, expansion plans are up 40% over last year’s levels.”

Ossining, N.Y. -- Tarrytown, N.Y.-based Infill Development, LLC, affiliate of DLC Management Corp., announced the groundbreaking of a new development project in Ossining, N.Y. A stand-alone Walgreens will be constructed on the site of a former strip center, a New York State Brownfields site which is scheduled to undergo demolition shortly.

The new 9,483-sq.-ft. Walgreens store is slated to open in the fourth quarter of 2011.

LAKELAND, Fla. -- Publix Tuesday reported fourth-quarter sales of $6.4 billion, a 4.4% increase from last year’s $6.1 billion. Comparable-store sales for the fourth quarter of 2010 increased 3.2%.

Net earnings for the fourth quarter of 2010 were $342.1 million, compared with $284.2 million in 2009, an increase of 20.4%. Earnings per share for the fourth quarter increased to 44 cents for 2010, up from 36 cents per share in 2009.

Woonsocket, R.I.  -- CVS Caremark Corp. said Tuesday that federal antitrust regulators cleared its planned acquisition of insurer Universal American Corp.'s Medicare Part D prescription drug business.

CVS and Universal American said the Federal Trade Commission has ended a mandatory review of the $1.25 billion deal. Universal American shareholders and state regulators still need to clear the deal.

The companies announced the transaction Dec. 31, and they expect it to close by the end of the second quarter.