FINANCE

CVS Opens in Downtown Honolulu

BY CSA STAFF

Honolulu CVS CarePlus Pharmacy has opened its first store in downtown Honolulu, at Restaurant Row.

The 4,700-sq.-ft. pharmacy opened Monday in the space previously occupied by Sunset Grill.

Other than operating a small pharmacy at the Pali Palms Plaza in Kailua for the past nine years, CVS Caremark has not had a strong Hawaiian presence. But the new Honolulu pharmacy and CVS’ $2.5 billion buyout of Longs Drugs Stores last year now makes CVS Hawaii’s largest drug store chain.

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Murray resigns from Cabela’s board

BY CSA STAFF

SIDNEY, Neb. Cabela’s announced that Stephen Murray resigned from the board of directors effective Jan. 20.

Murray joined the board of directors in December 2005. During his tenure, Murray served as a member of the compensation committee and the nominating and corporate governance committee.

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Wal-Mart to own majority stake in largest Chilean food retailer

BY CSA STAFF

BENTONVILLE, Ark. and SANTIAGO, Chile Wal-Mart Stores announced that it has successfully completed its tender offer to acquire Distribucion y Servicio D&S S.A., Chile’s largest food retailer.

As a result of the transaction, Wal-Mart will own approximately 58.2 % of the issued and outstanding shares of D&S, including shares represented as American Depository Shares in the United States. Felipe Ibanez Scott and Nicolas Ibanez Scott will collectively retain approximately 40.1% of the shares of D&S, leaving approximately 1.7% held by the public. The tender offer period commenced Dec. 24 and closed at midnight Jan. 22 local Santiago time.

According to Craig Herkert, Wal-Mart EVP and CEO of the Americas, “Partnering with D&S, with its strong brands and its position as Chile’s largest food retailer, is an important step in implementing Wal-Mart’s international strategy. We continue to focus on portfolio optimization, global leverage and winning in every market.”

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