News

CVS Q3 revenue up 10%
Woonsocket, R.I. -- CVS Health Corp. on Tuesday reported slightly higher-than-expected quarterly profit, helped in part by growth in sales of specialty drugs. Net income decreased 24% to $900 million from $1.21 billion in the year-ago period, primarily due to a $521 million pre-tax loss on the early extinguishment of debt.
America’s Top Redevelopers
In its 10th year, the Top Redevelopers survey continues to underscore the industry sea change from ground-up new-builds to redeveloping existing assets. Each year, the names of our Top Redevelopers may change, but their goals remain the same: maximize shopping center portfolios by keeping each asset current, vibrant and viable.

Paul Frank to open omnichannel holiday pop-up store

Los Angeles -- Lifestyle brand Paul Frank is launching a pop-up shop at the Paramount Hotel in New York City, now through Jan. 30, 2015, with omnichannel features. Customers can participate in two digital activations featuring the face of Paul Frank, Julius the monkey.
Merger magic evident at Office Depot

Sales continued to decline at Office Depot in the third quarter, but CEO Roland Smith said excellent execution allowed operating profits to more than double.

Total company sales on a pro-forma basis to reflect the merger of Office Depot and OfficeMax declined 3% to $4.1 billion during the period ended Sept. 27. The top line decline was steeper at the company’s 1,851 unit North American retail division where sales declined 7% to $1.7 billion due to store closures and a 3% same store sales decline driven by a reduced transaction volume.
Ron Johnson Launching Retail Start-Up

Former J.C. Penney CEO Ron Johnson is back in the game. Johnson, who prior to joining Penney headed up Apple’s retail store operations for nearly 12 years, is launching a new company — called Enjoy — and contrary to earlier rumors, it’s not an on-demand tech-gadget delivery service. Instead, it’s a service to help online shoppers make the right product choices.

Johnson isn’t divulging much about his new start-up, or exactly what it will offer.
Best Buy names Domino’s CEO Doyle to board

Minneapolis -- Best Buy Co. Inc. has appointed J. Patrick Doyle, president and CEO of Domino’s Pizza, to its board of directors. Doyle, 51, joined Domino’s Pizza in 1997, serving in a variety of leadership roles across its domestic and international businesses, and has been president and chief executive officer of Domino’s since March 2010.
Generic utilization lifts CVS Health in Q3

Tailwinds from specialty pharmacy and increased generic utilization lifted CVS Health up on Tuesday, as the company posted net revenues of $35 billion, representing an increase of 9.7% for the three months ended Sept. 30.
RetailROI Helps ‘More Than Me’ Combat Ebola in Liberia

The spread of the deadly Ebola virus has been all over the news lately. Protecting underprivileged children in West Africa from Ebola is one more important effort supported by RetailROI. Katie Meyler, founder of More Than Me, a non-profit dedicated to assisting at-risk youth in Liberia, recently discussed how More Than Me and RetailROI are helping to combat Ebola there.

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HSN beats Street with Q3 profit, revenue

St. Petersburg, Fla. -- HSN Inc. beat Wall Street expectations for profit and revenue in the third quarter of fiscal 2014. Net income totaled $39.5 million, down 6% from $42.1 million in the prior year period. A higher effective tax rate helped decrease profits at HSN. Net sales rose 5% to $837.5 million from $798.9 million. Digital sales were up 7% and mobile sales increased 37%, with mobile now representing 16% of HSN’s total business.
New “Life” for Coca-Cola

Coca-Cola Life, a new reduced-calorie beverage with a blend of cane sugar and stevia leaf extract, is hitting the stores nationwide.

Coca-Cola Life addresses the health concerns over sugary sodas. The green-labeled can or bottle contains 35% fewer calories than Coca Cola Classic and is said to taste closer to the original than Diet Coke, which is sweetened with aspartame.