News

Walgreens' vital signs good in Q1
Walgreens said stronger sales from established stores helped it trump analyst expectations for the first quarter, even as the company's acquisition of European retailer Alliance Boots remains on track to close this month.

Walgreens reported a 16.4% lift in quarterly profit to $809 million that was credited to the 222 million prescriptions filled for the first quarter ended Nov. 30.
Report - Square still working with Starbucks
San Francisco – Although the mobile payment partnership that Starbucks and Square launched in 2012 will soon be ending, Square is reportedly still actively working with Starbucks. According to the San Francisco Business Journal, Square is publicly informing its users that Starbucks is using Square technology to process payments at 7,000 stores.

Alliance Boots boosts Walgreens Q1 profit

Deerfield, Ill. – Cost synergies from its ongoing merger with U.K. drugstore chain Alliance Boots GmBH helped boost net earnings at Walgreen Co. 16% to $809 million in the first quarter of fiscal 2015 from $695 million the same quarter a year earlier. The combined synergies for Walgreens and Alliance Boots in the first quarter were approximately $140 million and remain on track to reach at least $650 million in fiscal 2015.

Sales rose 7% to $19.6 billion from $18.33 billion. Same-store sales increased 5.7%.
Gordmans' names dept. store vet CEO

Gordmans Stores five-month search for a CEO is over with veteran department store retailer Andrew Hall hired for the top job.

Hall takes over as president and CEO from Gordmans’ chairman Scott King, who had served as interim CEO since March of this year after Jeff Gordman stepped down as CEO of the 97-unit department store chain.
Sports Authority chief to lead Guitar Center

Guitar Center has chosen retailing veteran Darrell Webb to be the company's new president and CEO. From 2011 to 2013, Webb served as chairman and CEO of the Sports Authority. Webb has more than 30 years of experience in retailing and has led several multibillion dollar companies through periods of rapid growth.
Taubman launches shopping/navigation app at Mall at University Town Center

Sarasota, Florida - The Mall at University Town Center, located in Sarasota, Florida, and owned by Taubman, has launched a free app designed to make shopping easier and more personalized. The free "Mall at UTC" iOS mobile shopping app offers first-of-its-kind indoor navigation technology developed by SPREO. The app is being piloted at UTC now, but is scheduled to roll out to Taubman properties across the U.S. over the next year.
JCP picks a president and eventual CEO

Home Depot EVP Marvin Ellison will become president of J.C. Penney on November 1 and succeed Mike Ullman as CEO of the department store retailer next August.
Happy holidays from Retailing Today

Retailing Today will be closed for Christmas, Dec. 24 through Dec. 26, and will publish again on Monday, Dec. 29. The editor and publisher of Retailing Today would like to wish you and your families very best wishes for a happy, healthy and joyous holiday.

Cheers, Mike Troy Editor, Retailing Today
Macy’s readies ‘wonderful’ post-holiday week

New York - Macy’s knows the holiday spirit doesn’t suddenly fade on Dec. 26. The retailer is offering “Week of Wonderful,” a seven-day shopping event from Sunday, Dec. 28 through Saturday, Jan. 3. During Macy’s ‘Week of Wonderful,’ customers will find a wide assortment of fresh products at affordable prices to usher in the New Year.
Walgreens seeking new CEO

A search is underway for a new CEO at Walgreens following the resignation of president and CEO Greg Wasson as the retailer moves toward creation of a new holding company ownership structure and complete its largest ever acquisition.