China 3C Group, Wal-Mart China in supply deal
ZHEJIANG PROVINCE, China China 3C Group, a leading retailer and distributor of consumer and business products in China, has entered into an agreement with Wal-Mart China to sell audio electronic equipment, including radios, CD players and stereo equipment at six Wal-Mart stores in the Zhejiang province beginning in April. Under the agreement, China 3C will have the opportunity to sell its products at other Wal-Mart stores located in Eastern China as well as in other surrounding provinces in China in the future. Including Wal-Mart’s six stores in the Zhejiang province, Wal-Mart currently has thirteen stores in Eastern China and eighty-one stores overall in China.
Wang Zheng-gang, China 3C chairman and ceo commented, ”We are thrilled that Wal-Mart is working with China 3C to sell our audio products in their stores. While this agreement is initially expected to have a limited material impact to our business, we believe there is an opportunity to expand our relationship with this retailer in the future to include a broader range of products and increase the total number of stores we have with this partner. Our business is well-suited to work with leading retailers such as Wal-Mart due to our broad product selection, competitive pricing and our ability to operate in a large number of store outlets. Wal- Mart has a strong brand presence and operating capability in China, which we believe can provide China 3C with a very good platform for growth in the Zhejiang province and in other surrounding provinces in the future. We believe this supply agreement further validates the strength of our operating model.”
Fred Meyer, QFC to offer $4 generics
PORTLAND, Ore. and BELLEVUE, Wash. In line with their parent company, Kroger, Fred Meyer Stores and QFC announced that they will begin offering pharmacy customers some generic drugs for $4 per prescription. The $4 generic prescriptions will be available at all QFC pharmacies in Washington and Oregon, and at all Fred Meyer pharmacies in Idaho, Oregon and Washington.
The $4 price will apply to more than 300 generic drugs prescribed for 30-day supplies for commonly prescribed dosages. The program will include generic alternatives for some of the most commonly prescribed drugs used to treat conditions such as diabetes, asthma, depression, heart disease, thyroid and other health problems.
The $4 prescriptions are available in Fred Meyer and QFC pharmacies as well as through on-line and telephone orders for customers to pick up in a store.
Wal-Mart supports sustainable cotton farmers
BENTONVILLE, Ark. Wal-Mart is showing its support for organic farmers by featuring t-shirts made from transitional cotton as part of its Earth Month campaign. The retailer purchased more than 12 million pounds of transitional cotton that will arrive in stores for the first time this month under its exclusive Faded Glory brand. Additional product made with transitional cotton will appear on Wal-Mart shelves in the months ahead.
“Wal-Mart’s support of transitional cotton stems from our understanding of the financial implications for farmers who adopt labor-intensive organic farming methods and complements our commitment to eco-friendly products and sustainable supplier practices,” said Kim Brandner, brand manager of sustainable products for Wal-Mart. “By doing so, we are also helping our customers live better by easily being able to include ‘eco-essentials’ on their everyday shopping list.”
Wal-Mart has purchased transitional cotton from approximately 1,000 farmers at the same premium cost of certified organic cotton, without passing along increased costs to consumers. Because this cotton is produced on fields in the process of becoming organic, chemicals may still be apparent in the soil, preventing farmers from certifying crops as organic. Farmers who have adopted organic practices typically harvest transitioning crops for up to three years. Wal-Mart’s transitional cotton commitment for product arriving in the month of April alone has saved more than six tons of synthetic fertilizers, pesticides and herbicides from entering the earth.