FINANCE

Consumer Confidence Up

BY Marianne Wilson

Washington, D.C., Confidence in the economy has gone up as the Federal Reserve’s bold interest-rate cut and less turmoil on Wall Street made people feel better about the country’s prospects of surviving a painful credit crunch and housing slump.

The RBC Cash Index showed consumer confidence rose to 80.6 in early October. That was an improvement from September’s reading of 71.1, the lowest in nearly one and a half years. The index is based on the results of the international polling firm Ipsos.

Individuals’ sentiments about the economy’s prospects and their own financial fortunes during the next six months rose to 25.7 in October, compared with 14.4 in September. The new reading suggests that while consumers feel better about the outlook, they still have some angst.

Problems in housing are expected to drag on well into next year. Also, home foreclosures and late payments probably will keep on climbing.

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CVS/pharmacy sees monthly comps gain

BY CSA STAFF

WOONSOCKET, R.I. CVS Caremark today announced that same-store sales in its CVS/pharmacy division increased by 5% for the five weeks ended Sept. 29 over the prior year period. Pharmacy same-store sales increased 4.3%. Front-end same-store sales increased 6.8%.

The comany reported that for the third quarter, same-store sales at CVS/pharmacy increased 5% over the prior year period. Pharmacy same-store sales increased 4.3%, while front-end same store sales increased 6.5%.

 

For the 39-week period, the company reported that same-store sales at CVS/pharmacy increased 6% over the prior year period. Pharmacy same-store sales increased 5.8%, while front-end same store sales increased 6.3%.

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Walgreens offers discounts for AARP members

BY CSA STAFF

WASHINGTON Walgreens is partnering with AARP to offer its members access to discounted health, beauty and wellness products.

The company has launched a new catalogue, “AARP Health Essentials by Walgreens” and a new Web site, http://aarp.walgreens.com, which offer AARP members an exclusive 5% discount on more than 20,000 products.    

Citing a report by The Resource for Marketing Executives, which says that baby boomers account for 61% of all over-the-counter medication purposes, AARP said it felt its partnership with Walgreens was the right move.

“Our 39 million members represent a large percentage of this group and our relationship with Walgreens will provide them with discounts and easier access to a wide variety of health-related products,” said Adam Sohn, associate director of AARP media relations.

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