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  • CVS Q3 profit leaps 16% on higher sales

    Woonsocket, R.I. -- CVS Caremark Corp. reported Tuesday that net income for the quarter ended Sept. 30 jumped 16% to $1.01 billion, compared with $868 million in the year-ago period. Results were boosted by a 13.3% increase in revenue to $30.2 billion, which edged Wall Street’s forecast of $30.09 billion in revenue.

    Drugstore revenue rose 5.5% to $15.5 billion, and same-store sales climbed 4.3%, helped by the influx of Walgreens customer who switched to CVS during the split between Walgreen Co and Express Scripts Holding Co.

  • Report: Amazon packages for pick-up at Staples

    New York -- According to a Monday report by Reuters, Staples will install Amazon lockers inside its U.S. stores, providing consumers an alternative location to receive packages from the online retailer.

    According to the report, customers are sent an email code with a pickup code for opening the locker. Shoppers then have three days to retrieve the package.

     

  • Office Depot swings to loss in Q3, but results beat Street

    Boca Raton, Fla. -- Office Depot Inc. reported Tuesday a loss of $61.9 million for the third quarter, compared with net income of $100.9 million in the same period last year. Results still edged analysts’ expectations.

    Revenue dropped 5.1% to $2.69 billion, missing Wall Street’s expected $2.89 billion revenue mark.

    Revenue for the office supply chain has fallen for the past three quarters.

     

  • OfficeMax Q3 profit leaps on extinguished Lehman liability

    Naperville, Ill. -- OfficeMax Inc. reported Tuesday that net income for the third quarter jumped to $433.5 million from $22 million in the same period last year, as the office supply retailer eliminated non-recourse debt guaranteed by Lehman Bros. Holdings from its books.

    Revenue dipped 1.7% to $1.74 billion, missing Wall Street’s expected $1.87 billion. Same-store sales fell 2.1%.

  • Orvis selects MID Retail for merchandise allocation

    Indianapolis -- MID Retail Inc. said Tuesday that Orvis Co. has selected its Advanced Allocation software to manage the flow of merchandise to Orvis retail stores.

    “MID Retail’s Advanced Allocation software will help keep us ‘in-stock’ on the items our customers want,” said Julie Cheney, director of planning and allocation for Orvis. “The MID solution enables us to accurately control our inventory position while improving customer satisfaction.”

  • Supervalu cuts 700 jobs at Shaw's

    West Bridgewater, Mass. -- Supervalu said Monday it has cut about 700 store-level positions at the company’s Shaw's and Star Market stores in New England.

  • Valspar CFO retires

    MINNEAPOLIS — Lori Walker, SVP and CFO of Valspar, will retire from the company. The announcement was made by Gary Hendrickson, chairman of the board and CEO of Valspar.

  • Deloitte, CMO Compliance partner to help improve food, product safety

    NEW YORK — Deloitte has teamed up with software solutions provider, CMO Compliance to provide solutions to consumer product, food service, retail and distribution companies.

    The partnership will provide clients with a full suite of tools for risk management, the companies said.

  • Golfsmith names new CEO

    AUSTIN, Texas — Golfsmith International has named Sue E. Gove president and CEO of the world's largest specialty golf retailer. Gove, formerly president and COO of the combined Golfsmith and Golf Town business, has also served as the chief integration officer leading the successful Golfsmith-Golf Town combination which was finalized this past July.

  • LogicSource to provide sourcing expertise to Burlington Coat Factory

    NORWALK, Conn. — LogicSource, a sourcing solutions firm, has entered into a multi-year agreement to provide advisory services and technologies to Burlington Coat Factory.

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