-
IBISWorld: Valentine's Day will drive retail sales
LOS ANGELES — IBISWorld predicted Valentine's Day will boost retail sales in a new report.
The independent market and research firm said that consumers are expected to spend 5.8% more on Valentine’s Day purchases this year than last year, totaling $18.6 billion, or about $125 per person.
Big gains will be seen across all categories. Jewelry is expected to see an 11.3% boost, greeting cards and candy are projected to grow 4.9% and 5.1%, respectively, and clothing and lingerie should see a 3.4% rise.
-
Merlo to assume CEO role at CVS Caremark
WOONSOCKET, R.I. – The next chapter for CVS Caremark officially is under way as the company announced on Monday the next stage of its previously announced transition plan and officially named Larry Merlo, president and COO, as CEO, effective March. 1.
Tom Ryan, chairman, president and CEO, will remain nonexecutive chairman until his retirement at the company’s annual meeting of shareholders in May.