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New leadership emerges at NACDS
SCOTTSDALE, Ariz. — The National Association of Chain Drug Stores announced a successor for Larry Merlo as its new board of directors chairman, along with several other elected officers, at its 2011 Annual Meeting. Robert Loeffler, who serves as H-E-B's chief administrative officer, will replace Merlo, who is CVS Caremark president and CEO, as NACDS board chairman. Additionally, Walgreens president and CEO Greg Wasson was elected vice chairman, while Thrifty White president and CEO Robert Narveson was named treasurer.
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Determining low-price leader not so simple
The most recent pricing survey from the equity research team at Credit Suisse shows that Target is either 3.1% more expensive or 1.9% less expensive than Walmart. The firm compared prices at stores in the Dallas and Chicago markets, as it does every month, and during March discovered the gap between the two competitors narrowed considerably.
“Target’s price gap with Walmart tightened from 4.2% in February to 3.1%,” according to the firm. “Target’s basket price decreased sequentially by 0.8% compared with Walmart’s 0.3% increase.”
