General Growth Exits Pabst Farms Development
Milwaukee, General Growth Properties confirmed Friday that it will not build a regional shopping center at the Pabst Farms development in Oconomowoc, Wis., the Business Journal of Milwaukee reported.
Pabst Farms Development Inc. said Thursday it is recruiting companies to replace General Growth as the exclusive developer for the Pabst Farms Town Centre regional shopping mall.
General Growth’s decision to walk away from the Pabst Farms project was not based on financial reasons, according to Peter Bell, president of Pabst Farms Development, the report said. The company recently shifted its business strategy and decided to reduce its number of projects under development. General Growth will continue to work on a $450 million hotel, condominium and retail development in downtown St. Louis.
In June 2006, General Growth announced a partnership agreement with Pabst Farms.
Located on a 1,500-acre parcel. Pabst Farms is a master-planned community. The largest component is a residential community with 1,200 single-family homes and condominiums.
CVS/pharmacy sees monthly comps gain
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%.
Walgreens offers discounts for AARP members
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.