For the 14-week fourth quarter, as its ongoing merger attempt with Walgreens Boots continued, Rite Aid posted a company net loss of $21.1 million, or two cents per diluted share, versus company net earnings of $65.6 million, or six cents per diluted share, in the 13-week period a year earlier.
At the recent ShopTalk trade show, Marc Lore, president and CEO of Walmart’s U.S. e-commerce division, revealed that Walmart would begin an innovation and technology development project funded by but separate from its other operations, adding that it would bring on its first partner in the initiative shortly.
Sears Holdings has named a new chief financial officer as officials with the retailer provided an update on its plan to turn around the company’s ailing fiscal health.
Facing competitive headwinds from e-commerce and closeout retailers, Macy’s new CEO Jeff Gennette is focused on growing the company’s core business while also expanding the department store’s efforts in the digital space.
Amazon is expanding its presence in New Jersey with plans to open three new fulfillment centers in the Garden State.
Panasonic Corporation of North America and Furniture For Life (FFL) have entered into a business partnership in which FFL has been appointed the exclusive U.S. distributor of Panasonic’s massage chairs.
The Walgreens Boots Alliance takeover of Rite Aid may be facing a major hurdle, according to published reports.