Shop Talk
Retailers, consumers and prices
Check Out Line: Drugs and Spam sell well in recession
Check Out strong sales of drugs and Spam.
CVS Caremark Corp, which operates more than 6,900 drug stores and is a major pharmacy benefits manager, posted a higher fourth-quarter profit that matched Wall Street’s expectations, boosted by higher sales in its pharmacy benefits and retail drugstores units despite a wider cutback in consumer spending.
Spam maker Hormel Foods Corp reported a lower quarterly profit that topped Wall Street expectations, as cash-strapped consumers snapped up its Spam lunch meat, Dinty Moore stews and Hormel Chili.
CVS said sales at its drug stores open more than a year rose 3.6 percent, with pharmacy same-store sales up 4.5 percent.
Also in the basket:
Avon sees more savings, unveils new restructuring
Food makers try to hold prices are retailers push back
Retailers face off with name brands in recession
Circuit City liquidation sales ahead of schedule
(Photo/Reuters)
Post Your Comment
- We moderate all comments and will publish everything that advances the story directly or with relevant tangential information
- We try not to publish comments that we think are offensive or appear to pass you off as another person, and we will be conservative if comments may be considered libelous.
Follow Shop Talk
