Cardinal Health renews deal with Walgreens
Dublin, Ohio — Pharmaceuticals distributor Cardinal Health said Tuesday it renewed a deal to provide drugs to Walgreens’ pharmacies through 2013.
Cardinal Health did not disclose terms of its agreement with the chain. The companies renewed their deal early, as their last contract was signed in early 2008 and was set to last for three years.
Talbots profit up 17% on cost-cutting
Hingham, Mass. — The Talbots on Tuesday said its third-quarter profit rose 17% on cost-cutting. But its revenue fell and the retailer offered weak fourth-quarter guidance and cut its full-year outlook.
"Our customer traffic and sales demand from Thanksgiving through Cyber Monday improved greatly, however, we believe the challenging and promotional environment will continue," said CEO Trudy Sullivan. "To that end, we will stay nimble and have appropriately enhanced our promotional activity to best position ourselves for the remainder of this holiday season."
Talbots said its net income rose to $17 million, from $14.6 million a year ago. Revenue fell 3% to $299.1 million, from $308.9 million last year. Same-store sales fell 7.1%.
Talbots is in the midst of a turnaround plan. After struggling with weak sales during the recession, Talbots earlier this year arranged a deal that let it reduce its debt and buy out its largest shareholder, Japanese retail company Aeon (U.S.A.), which held a 54% stake. The retailer has also updated its clothing to appeal to younger, more style conscious shoppers.
Staples expands printing business
Framingham, Mass. — Staples Advantage, the business-to-business division of Staples, announced that its Print Solutions business has acquired PRINTSouth Corp. (operating as “Miami Systems”), a leading national manufacturer of business forms. Customers of Staples Print Solutions and Miami Systems will benefit from expanded product and service offerings, improved distribution capabilities and shared best practices, Staples reported.
“We welcome Miami Systems to the Staples company. We share the same values and beliefs, and are committed to growing within the print solutions marketplace,” said Jay Baitler, executive VP Staples Advantage. “Together, our combined businesses will make it easy for customers through nationwide manufacturing coverage and unparalleled value and service.”
Founded in 1926, Miami Systems has evolved into a leading national provider of transactional documents and related managed services with about $70 million in sales. Miami Systems’ products and services encompass the printing and management of business forms, inserts, envelopes and labels. Its business forms product line includes computer forms, mailers, scan forms and snap-out forms.