Swipe fee cost for average household tops $1,100
WASHINGTON – Soaring credit and debit card swipe fees cost the average U.S. household more than $1,100 last year, the Merchants Payments Coalition said today.
Business
Deloitte releases 14th Annual Pharmaceutical Innovation Report
Deloitte in a series of annual reports on “Measuring the return from pharmaceutical innovation,” in collaboration with other member firms, has provided insights into the state of biopharma R&D since 2010.
Acosta: Grocery channel can grow with HBC/GM
The opportunities for grocery retailers to grow their health and beauty care and general merchandise sales are exponential, according to a new study by Acosta Group.
NRF issues statement on final overtime rule
in two steps — the minimum annual salary threshold that determines overtime pay eligibility
CDR, MMR partner with ECRM for special event
Chain Drug Review and Mass Market Retailers have partnered with ECRM for Founders’ Innovation Day, an exclusive event designed for D2C and emerging brands to make the most of their potential at food, drug and mass retailers, and from e-commerce.
Cardinal reaffirms fiscal guidance and long-term targets amidst nonrenewal of OptumRx customer contracts
Cardinal Health announced today that its pharmaceutical distribution contracts with OptumRx, which expire at the end of June 2024, will not be renewed. The company reaffirmed its fiscal 2024 non-GAAP diluted EPS guidance of $7.20 to $7.35.
Census data shows retail sales gains in March
WASHINGTON – Data released by the U.S. Census Bureau on Monday shows that retail sales continued to increase in March as tax refunds and job growth put more money in shoppers’ pockets, National Retail Federation Chief Economist Jack Kleinhenz said.
CNBC/NRF: Retail sales grew in March at a steady pace
WASHINGTON – Retail sales grew at a steady pace in March, according to the CNBC/NRF Retail Monitor, powered by Affinity Solutions, released today by the National Retail Federation.
Sephora, Dove top CPG 2024’s Most Innovative Brands List
NEW YORK – CPG brands outpaced Technology nearly 2:1 in the 2024 Most Innovative Brands survey conducted by Brand Keys, Inc. (www.brandkeys.com), the New York-based brand loyalty and engagement research firm.
NRF says economy remains ‘sturdy’ despite forecast for slower growth
WASHINGTON – Despite expectations for slower growth of both gross domestic product and retail sales, the economy should continue to do well the remainder of this year, National Retail Federation Chief Economist Jack Kleinhenz said today.
Mastercard to raise credit and debit card fees
WASHINGTON – Almost immediately after agreeing to reduce “swipe” fees charged to merchants to process credit card transactions, Mastercard plans to increase fees for both credit and debit card transactions by more than $250 million this month, the Merchants Payments Coalition said Wednesday.
Walmart Health to expand to 70 clinics by end of 2024
Walmart will open its first health clinic in Texas next month on the way to 70 across the U.S. by the end of the year according to an article in Forbes. Walmart, which has 48 Walmart Health centers in five states, said in the article it will add 22 new locations in
CNBC/NRF Retail Monitor: Consumers still spending in February
WASHINGTON – Retail sales continued to grow in February, building off solid gains from January, according to the CNBC/NRF Retail Monitor, powered by Affinity Solutions, released today by the National Retail Federation. Click here to access February’s retail data.
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
Circana report reveals private brands surge amidst inflation
Circana has released a new report on the state of private brands (also referred to as store brands or private labels). Despite high inflation, private brands have experienced growth, surpassing $217 billion in sales in the United States market.
Kroger’s Q4 earnings beat expectations
Kroger reported flat sales for the fourth quarter and fiscal year ended February 3, but profits beat expectations. The retailer reported a $736 million profit on sales of $37.1 billion for the three-month period. Kroger noted that identical sales (excluding fuel decreased 0.