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Feb 11, 2014

CVS sticks to 2014 sales forecast despite tobacco exit

By Phil Wahba

(Reuters) – CVS Caremark Corp (CVS.N: Quote, Profile, Research, Stock Buzz) stuck to its 2014 sales forecast on Tuesday, a week after announcing it was giving up its $2 billion a year tobacco business, and said sales at its drugstores are off to a good start this year.

Shares in CVS, which reported a better than expected quarterly profit, rose 2.5 percent to $68.79.

Feb 6, 2014

Retailers’ sales chilled by weather, low consumer confidence

By Phil Wahba

(Reuters) – January was a tough end to a tough holiday season for U.S. retailers.

Shoppers last month continued to pinch their pennies, seeking out bargains and paying fewer visits to stores. They also were unnerved by slumping stock markets and impeded from shopping by an unusually cold and snowy January that, because of high heating bills, could hurt retail sales well into the spring, analysts said.

Feb 6, 2014

U.S. retailers’ sales chilled by weather, low consumer confidence

Feb 6 (Reuters) – January was a tough end to a tough holiday
season for U.S. retailers.

Shoppers last month continued to pinch their pennies,
seeking out bargains and paying fewer visits to stores. They
also were unnerved by slumping stock markets and impeded from
shopping by an unusually cold and snowy January that, because of
high heating bills, could hurt retail sales well into the
spring, analysts said.

Feb 5, 2014

Coca-Cola takes $1.25 billion stake in Green Mountain

By Lisa Baertlein and Phil Wahba

(Reuters) – Green Mountain Coffee Roasters Inc, maker of the popular Keurig single-cup coffee brewer, said on Wednesday that the Coca-Cola Co (KO.N: Quote, Profile, Research, Stock Buzz) bought a 10 percent stake in it for $1.25 billion and would help launch Green Mountain’s new cold drink machine planned for next year.

Shares in Green Mountain (GMCR.O: Quote, Profile, Research, Stock Buzz) soared 39.7 percent to $113.01 in extended trading, while those of its likely new rival, SodaStream International Ltd (SODA.O: Quote, Profile, Research, Stock Buzz), tumbled almost 10 percent to $32.01.

Feb 5, 2014

CVS becomes first big U.S. drugstore chain to drop tobacco

Feb 5 (Reuters) – CVS Caremark Corp said on
Wednesday that it would stop selling tobacco products at its
7,600 stores by October, becoming the first national drugstore
chain in the United States to take cigarettes off the shelves.

Public health experts called the decision by the No. 2 U.S.
drugstore chain a precedent-setting step that could pressure
other retailers to follow suit. It comes at a time when
pharmacies are taking on a much bigger role in healthcare.

Feb 5, 2014

CVS to become first major U.S. drugstore chain to drop cigarettes

Feb 5 (Reuters) – CVS Caremark Corp said on
Wednesday that it would stop selling tobacco products at its
7,600 stores by October, becoming the first national drugstore
chain in the United States to take cigarettes off the shelf.

Public health experts called the decision by the No. 2 U.S.
drugstore chain a precedent-setting step that could pressure
other retailers to follow suit.

Feb 5, 2014

CVS to become first major U.S. drugstore to drop cigarettes

By Phil Wahba and Julie Steenhuysen

(Reuters) – CVS Caremark Corp said on Wednesday that it would stop selling tobacco products at its 7,600 stores by October, becoming the first U.S. drugstore chain to take cigarettes off the shelf.

Public health experts called the decision by the No. 2 U.S. drugstore chain a precedent-setting step that could pressure other stores to follow suit.

Feb 5, 2014

U.S. retailers face pressure to raise cybersecurity spending

NEW YORK (Reuters) – Target Corp’s decision to speed up a $100 million program to adopt the use of chip-enabled smart cards is just a drop in the bucket when it comes to what retailers need to do to defend themselves against future cyber attacks, according to security experts and IT service providers.

The pressure to boost security spending comes at a time when merchants are already spending millions to fend off online retailer Amazon.com and facing an October 2015 deadline set by payment networks Visa Inc and MasterCard Inc to accept new payment cards that store information on computer chips rather than on traditional magnetic stripes.

Feb 4, 2014

Penney shares slammed as holiday quarter sales disappoint

By Phil Wahba

(Reuters) – J.C. Penney Co Inc (JCP.N: Quote, Profile, Research, Stock Buzz) shares fell 10 percent on Tuesday after the struggling retailer reported a disappointing rise in comparable sales for the holiday quarter, prompting fears its business is recovering too slowly.

Penney also did not provide details on its gross profit margin, leading Wall Street analysts to conclude the department store operator had to resort to bigger discounts during the holiday season.

Feb 4, 2014

Penney holiday sales up modestly; liquidity at $2 billion

Feb 4 (Reuters) – J.C. Penney Co Inc on Tuesday
reported a modest rise in quarterly comparable sales but gave no
details on its gross profit margin, leading Wall Street analysts
to conclude the department store operator had to resort to
bigger discounts during the holiday season.

Still, Penney said it had $2 billion in liquidity available
at the end of the quarter, in line with its earlier forecasts,
reassuring investors concerned about how much cash it was using
up as it attempts to fix its business.

    • About Phil

      "Phil Wahba joined Reuters in 2008 and has covered the exchanges, equity capital markets (IPOs), corporate bankruptcies and now covers retailers such as department stores and booksellers."
      Joined Reuters:
      2008
      Languages:
      English, French, Spanish, German and Danish.
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