Retail

CVS Caremark claimed the healthcare high ground by discontinuing the sales of tobacco products but the move comes with a steep price as the company said it will lose $2 billion in revenue and experienced a 17 cents a share profits impact.
 

Leading electronics-focused e-retailer Newegg is looking to grow its customer base while keeping existing customers happy with a new customer-benefit program, which offers, in part, complimentary expedited shipping for $49.99 per year.

Mark Panzer, president and CEO Pharmaca Integrative Pharmacy, will be leaving the company to pursue an opportunity at Sears Holding.

Panzer will be in charge of pharmacy operations at Sears Holding and will direct the health and wellness initiatives across K-Mart pharmacy as SVP and president pharmacy.

Dave Maher, a longtime Pharmaca board member and fellow chain drug veteran, will be serving as interim CEO as Pharmaca searches for a new candidate. Maher's experience includes time as president of American Stores Company and CEO Osco Drug.  

Topshop/Topman plans to open a 40,000-sq-ft. flagship store on Fifth Avenue in New York. The new Manhattan store will be located on the corner of 49th Street, and is adjacent to Rockefeller Center.

San Francisco-based One Kings Lane, an online destination for the home, has appointed Arun Rajan as chief technology officer.

In his new role, Rajan will lead end-to-end technology delivery, data infrastructure and site operations to support the growth and evolution of One Kings Lane.

Rajan joins alongside chief product officer David Yu, who joined One Kings Lane in mid-2013.

The Wet Seal board member Mindy C. Meads has resigned her spot to focus on her new role as CEO of Calypso St. Barth.

“Mindy has been a valued member of the board of directors and we wish her well in her future endeavors with Calypso St. Barth. Mindy’s leadership as chair of the Nominating and Corporate Governance Committee and her general contributions to the board were a value to the company and its shareholders,” said Lynda Davey, non-executive chairperson.

KEASBEY, N.J. — ShopRite is piloting a program that takes shoppers beyond the traditional checkout lines and self-checkout lanes and enables them to check out from their smartphones.

As part of its 2014 expansion plans, teen and tween retailer Five Below has its eye set on the Tennessee market and will be opening five new stores there by spring.