Pervasive optimism over the economy and strong early online sales signaled a robust holiday shopping season. Economic growth, a lack of inflation, rising wages and low unemployment have buoyed consumers and augured a willingness to spend significantly through December.
In reporting a net loss for its fiscal 2016 third quarter, Fred’s Inc. said it plans to shut 40 underperforming stores in the first half of next year. Fred’s also announced at the start of its earnings call Thursday that it wouldn’t take any questions from analysts following its quarterly report —
Muhtar Kent is stepping down as chief executive officer of Coca-Cola Co. and will be succeeded by James Quincey, president and chief operating officer. Coca-Cola said Friday that plans call for Quincey to take the CEO reins from Kent on May 1.
Dipankar Bhattacharjee has been promoted to president and chief executive officer of the Global Generic Medicines Group at Teva Pharmaceutical Industries Ltd. The appointment is effective immediately.
J M Smith Corp. plans to acquire drug wholesaler Burlington Drug Co. and certain retail operations assets of Pharmacy Health Services (PHS). Financial terms of the transaction weren’t disclosed.
General Mills has unveiled a new global organizational structure that eliminates a key international post and will result in hundreds of job cuts. The food company said Monday that it’s dropping the position of international chief operating officer.
Maxor National Pharmacy Services LLC has completed its acquisition of Pharmaceutical Specialties Inc. (PSI). Financial terms of the deal, announced in September, weren’t disclosed. Bogart, Ga.
Despite U.S. consumers’ ever-tightening embrace of online shopping, brick-and-mortar stores still trump digital channels when it comes to grooming and cosmetics purchases, according to The Harris Poll.
Meijer president Rick Keyes will take on the additional title of chief executive officer, effective January 1. In that post he will succeed current CEO Hank Meijer, who will serve as executive chairman of the Meijer board.
David Maura, executive chairman of Spectrum Brands Holdings Inc., has resigned from HRG Group Inc., which holds a majority stake in the company. Spectrum Brands said Maura’s departure from HRG, a diversified holding company, took effect Nov.
McKesson Canada has promoted pharmaceutical distribution chief Paula Keays to president. Keays, senior vice president of pharmaceutical distribution and operations, takes the reins as president effective immediately, McKesson Canada said Monday.
Retailers applauded a judge’s ruling preventing the Department of Labor’s changes to a federal overtime rule from taking effect on Dec. 1. U.S.
Ross Davison has joined H.D. Smith as chief financial officer. The drug wholesaler said Tuesday that Davison will oversee all of the company’s financial functions, including accounting, treasury, planning and budgeting, tax, risk management, corporate capital structuring and investor relations.
The inaugural weekend to the 2016 holiday shopping season will see consumers spending a bit more, according to a survey from Deloitte LLP.
Walmart’s third quarter earnings beat analysts’ expectations, but its sales fell slightly short, dampened by food deflation and unfavorable foreign exchange rates. The company earned $3.03 billion, or 98 cents a share, during the quarter, down from $1.03 per share a year ago.
Kimberly-Clark Corp. has promoted Michael Hsu, group president for North American consumer products, to president and chief operating officer. Michael Hsu Kimberly-Clark said Hsu is slated to join the board of directors effective Jan. 1.
