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CDR

Pharmacy business grows at Fred’s

For the first time, pharmacy sales topped 40% of the quarterly revenue mix at Fred’s Inc. The discount general merchandise chain said Tuesday that total revenue rose 2% to $460.5 million for the third quarter ended Nov. 2, with pharmacy sales climbing by more than 8%. Net income came in at $7.3

Former Loblaws COO joins Shopko as CEO

Shopko has named Peter McMahon as its new chief executive officer, taking the reins from interim CEO and chief operating officer Mike Bettiga. The general merchandise retailer said Monday that McMahon brings a wealth of retail experience to the company, spanning more than 30 years.

Walmart CEO Duke to retire; McMillon tabbed as successor

Walmart has named Doug McMillon to replace the retiring Mike Duke as president and chief executive officer, effective Feb. 1. The discount store giant announced the CEO succession plan on Monday. Duke has served as Walmart’s CEO since 2009, when he succeeded Lee Scott.

Obama gives ground on health insurance rules

Answering criticism from opponents of the Affordable Care Act and members of his own party, President Obama announced this month that health insurance plans that were canceled because of the ACA can be renewed for another year.

Health Mart ramps up marketing

McKesson Corp. has launched a new Local Marketing Support program for its Health Mart franchised stores. Executives say the program will help pharmacy owners develop new revenue streams and promote themselves as community health care providers.

Mental health coverage now mandated

Health insurers will have to cover mental illness to the same degree as physical ailments as the Obama administration carries out the largest expansion of behavioral health care in a generation.

Target extends beauty concierge plan

Target Corp. has added beauty concierges in 95 stores in New York and New Jersey, the San Francisco Bay area and Dallas-Fort Worth. The concierge is a brand-agnostic expert stationed to answer beauty care customers’ questions.

CDMA sets stage for trade show

Front-end suppliers, buyers from regional drug chains and representatives of regional drug wholesalers and grocery stores will be among those attending the Chain Drug Marketing Association’s 88th annual trade expo.