News

WOONSOCKET, R.I. — CVS Caremark outlined succession plans for its pharmacy benefit management business as EVP and COO Jon Roberts will assume the role of president of the PBM business, effective Sept. 1.

Indianapolis -- The Finish Line announced that Gart Capital Partners will invest $10 million in Finish Line’s Running Specialty Group, with the goal of creating the largest operator of specialty running shoe business in the United States.

Retailers are now well familiar with social media as a means of engaging consumers, but may be less familiar with using this means of interactive dialogue to engage employees. And, yes, even those employees out on the sales floor. Why is employee engagement so important? Because profits are important.

New York -- Consumer spending rose 0.8% in February, the Commerce Department said Friday. It was the biggest increase since July. However, the increase came as Americans' income barely grew, and the saving rate fell to its lowest point in more than two years.

Some of the higher spending last month reflected rising gas prices. But even after excluding inflation, which was due mainly to gas prices, spending rose a solid 0.5%.

It seems like forever that that Walmart has been describing the performance of its apparel department as “a work in progress,” but this could be the year things turn around thanks to a number of factors working in the company’s favor.

For starters, the return to basics emphasis is giving Walmart customers what they want and expect from Walmart, just as the market for apparel is enjoying strength and disruption at a competitor is creating the potential for share gains.

GOODLETTSVILLE, Tenn. — Nothing is slowing down Dollar General, which, shortly after reporting surging quarterly sales and profits, announced that it will open its 10,000th store in the United States. The store will be located in Merced, Calif., and is one the company's first stores in California.

New York -- Michaels Stores Friday confirmed that it is has filed a registration statement on Form S-1 with the Securities and Exchange Commission relating to the proposed initial public offering of its common stock. According to the filing, the company proposed to raise $500 million in the IPO. The number of shares to be sold and the price range for the proposed offering have not yet been determined.

NEW YORK — Whole Foods Market is leading charge to promote the sale of sustainable seafood by becoming the first national grocer to stop selling red-rated seafood. The company announced that, beginning this Earth Day (April 22), it will no longer carry red-rated, wild-caught fish in its seafood departments.