REAL ESTATE

Best Buy plans to open 13 new stores

BY CSA STAFF

Richfield, Minn. Best Buy said Friday that it will open 13 new stores by the summer, including its first store in Wyoming and the second Best Buy store in Alaska.

As part of the plan, stores will open in North Anchorage, Alaska; Miami Beach, Fla.; Hammond, La.; Hunt Valley, Md.; Hutchinson, Minn.; Bronx, N.Y.; Brier Creek, N.C.; Pottstown, Pa.; Park City, Utah; Martinsburg W.V.; Casper, Wyo.; Bastrop, Texas, and Laredo North, Texas.

The chain currently operates 1,032 locations in 49 states and Puerto Rico.

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Stop & Shop SVP joins Modiv Media board

BY CSA STAFF

QUINCY, Mass. Modiv Media announced that Stephen Vowles, SVP for Stop & Shop/Giant Landover Supermarkets, has joined the company’s board of directors.

“The addition of Stephen Vowles to the board adds real value for Modiv Media, our partners and our customers,” said Paul Schaut, Modiv Media chairman and CEO. “His experience on both sides of the brand management equation is a great asset for the company.”

 

Vowles led the successful re-branding of Stop & Shop/Giant Landover in 2008. Prior to joining Stop & Shop, he was customer marketing director at Sainsbury’s, the United Kingdom’s second largest grocer, and previously worked for eight years in brand management at Procter & Gamble, managing a range of brands across Western Europe.

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Rite Aid posts slight increase in May same-store sales

BY CSA STAFF

CAMP HILL, Pa. Rite Aid reported that for the five weeks ended May 30, same-store sales increased 0.6% over the prior year period. May front-end same-store sales decreased 1.5% while pharmacy same-store sales, which included an approximate 511 basis points negative impact from new generic introductions, increased 1.6%.

Total drug store sales for the five-week period decreased 1.3% to $2.507 billion compared to $2.539 billion for the same period last year. Prescription revenue accounted for 67.7% of drug store sales, and third party prescription revenue represented 96.2% of pharmacy sales.

 

Same-store sales for the 13-week quarter ended May 30 increased 0.6% over the prior-year period. Front-end same-store sales were down 1.6%. Pharmacy same-store sales increased 1.6%.

 

Total drug store sales for this 13-week first quarter decreased 1.2% to $6.506 billion compared to $6.586 billion in last year’s like period. Prescription revenue represented 68.2% of total drug store sales, and third party prescription revenue was 96.3%of pharmacy sales.

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