DSW owner swings to profit in Q4
Columbus, Ohio — Retail Ventures, parent of off-price shoe retail chain DSW, reported Monday that net income for the quarter ended Jan. 29 was $5.7 million, compared with a loss of $5.3 million a year earlier.
Sales for the quarter were $468.5 million, up from $402.6 million in the year-ago period. DSW same-store sales increased 14.9%.
For the full year, net income was $51.8 million, compared with a loss of $65.6 million the year before. Sales were $1.82 billion, compared with $1.60 billion for the prior year.
CVS Caremark names Helena Foulkes EVP, chief healthcare strategy and marketing officer
WOONSOCKET, R.I. — CVS Caremark has named Helena Foulkes, who is widely regarded as one of the most visionary marketers in modern drug store retailing, to the newly created position of EVP and chief healthcare strategy and marketing officer.
In the new role, she will bring together the company’s capabilities in enterprise branding, communications, community relations, charitable giving, healthcare-reform strategy, government relations and marketing into one integrated organization, in an effort to deliver even better business results and stronger partnerships.
"Helena Foulkes is a highly regarded executive who, as chief marketing officer, led the launch of innovative programs such as ExtraCare, Maintenance Choice and Pharmacy Advisor in both our retail and pharmacy benefit management businesses," stated Larry Merlo, president and CEO of CVS Caremark. "That hands-on experience in delivering products and services to consumers and clients gives her the perfect background to allow CVS Caremark to deliver even better business results and strengthen key partnerships to do more to improve health care in the U.S."
Building on her previous role as chief marketing executive of both retail pharmacy and the PBM, Foulkes brings insight from sales and operations into her new role to engage an even broader array of external stakeholders.
"For the past several years CVS Caremark has been an active player in helping to re-shape the health care system," Foulkes stated. "As we help consumers and clients adapt to the evolving health care system, it is important for us to bring together all of our capabilities to identify more innovative ways to improve pharmacy care delivery and help customers better manage costs. We will be aggressive in building stronger partnerships to maintain and build our leadership position in the industry."
Foulkes joined CVS Caremark in 1992 and has held positions of increasing responsibility in the retail pharmacy, PBM and corporate areas.
Kohl’s to open Maryland DC
Menomonee Falls, Wis. — Kohl’s Corp. said Tuesday that plans to open a distribution center in July in Maryland that will create about 1,200 jobs over the next three years.
According to the retailer, the Edgewood, Md., DC will fulfill online orders. Kohl’s anticipates hiring more than 200 full- and part-time employees when the center opens in July.
With the newest DC, Kohl’s will have a total of 12 distribution centers across the United States.
The Maryland facility will be Kohl’s third distribution center focused on serving online customers. It will initially occupy 602,000 sq. ft., with plans to expand to 1 million sq. ft. by 2012.