Circana report: private brands surge amidst inflation
Private brands have experienced growth in the face of inflation, according to a new report from Circana, with sales surpassing $217 billion.
Retail News
Biden vows to cut costs of Rx drugs
President Biden urged Congress to focus on cost-saving ideas for pharmaceuticals in his State of the Union address Thursday night, including capping out-of-pocket prescription drug costs for all Americans and allowing the federal government to negotiate the prices of widely used medications.
Costco posts 5.7% net sales gain in second quarter
Costco Wholesale Corp. posted net sales of $57.33 billion for the second quarter of its 2024 fiscal year, an increase of 5.7% from the $54.24 billion posted in the same quarter last year. Net sales for the first 24 weeks increased 5.9%, to $114.05 billion, from $107.68 billion last year. The company
NACDS urges action in wake of cyberattack
ARLINGTON, Va. – The National Association of Chain Drug Stores (NACDS) has submitted a letter to the U.S.
Merchants oppose delay of Fed action on swipe fees
WASHINGTON – More than 60 national and state organizations representing consumers and merchants have called on Congress to reject legislation introduced by Rep. Blaine Luetkemeyer, R-Mo., that would delay the Federal Reserve’s proposal to reduce the regulated rate for debit card swipe fees.
ALDI plans to add 800 stores by the end of 2028
ALDI, already known for its rapid growth, has unveiled plans to increase its store count by 800 locations across the country by the end of 2028.
Target to add paid membership program
As part of a revamp of its customer loyalty program, Target is launching a new paid membership program called Target Circle 360.
Rite Aid to divest most Health Dialog assets
Rite Aid Corp. today announced that it has entered into an asset purchase agreement (APA) for the partial sale of its Health Dialog business to Carenet Health (Carenet), a provider of healthcare engagement, clinical support, telehealth and advocacy solutions.
Target’s earnings top expectations, but sales lag
Target reported fourth-quarter sales and earnings that beat analyst expectations, boosting its shares in pre-market trading. But total sales for the year declined, the company said. Target reported that GAAP and adjusted earnings per share of $2.98 was 57.
Failure to enact PBM reforms would be “wasted opportunity”
WASHINGTON, DC – “Congress is dangerously close to proving wrong the notion that it’s never too late to do the right thing,” according to a statement issued today by The National Association of Chain Drug Stores, the National Community Pharmacists Association, FMI – The Food Industry Association, th
NACDS urges Biden to push for PBM reform
WASHINGTON – The National Association of Chain Drug Stores (NACDS) said it continues to call for the immediate implementation of reforms to address the tactics of pharmaceutical benefit middlemen amid attempts by PBMs to stall Congressional action and perpetuate their harmful practices.
CVS and Walgreens to begin selling abortion pills
CVS Health Corp. and Walgreens Boots Alliance Inc. said Friday they will begin to offer the abortion pill mifepristone in select states starting this month. The drug-store chains will offer the medication by prescription only at their pharmacies in states where’s it’s legally allowed.
NRF Economist: Inflation remains key
WASHINGTON – Inflation and the Federal Reserve’s efforts to bring it under control will remain big factors in the economy this year, according to National Retail Federation Chief Economist Jack Kleinhenz.“With the U.S.
Walgreens to close all VillageMD clinics in Illinois
Walgreens‘ Village MD, free-standing clinics that offer virtual, home and office visits, will leave the Illinois market in April. VillageMD is majority owned by Walgreens Boots Alliance, and it has six clinics in the state.
CVS Media Exchange (CMX) partners with Pinterest
CVS Media Exchange (CMX), a data-led, technology-driven media network that enables partners to reach and better serve CVS Pharmacy shoppers, is partnering with Pinterest and LiveRamp on data clean rooms to bring greater transparency to partners (CPG brand suppliers).