FINANCE

Kmart Expands Generic Drug Program

BY CSA STAFF

Atlanta Kmart said on Monday it has cut prices and expanded its generic prescription drug program to include more than 500 common medications as of June 22.

Kmart, a unit of Sears Holdings Corp., said it is offering more than 100 generic treatments for $5 per prescription and lowered the cost of a three-month supply of common drugs to $10 at its pharmacies.

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BY CSA STAFF

NEW YORK InterActiveCorp, which owns HSN, said that it expects the spin-off of its Cornerstone Brands catalog business to result in an estimated $300 million in goodwill impairment and an operating loss in the first half of 2008, according to a Reuters report.

Cornerstone will become part of a new unit that will also include HSN under a restructuring plan to be completed by early August, the report said.

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Charming Shoppes reports board changes

BY CSA STAFF

BENSALEM, Pa. Charming Shoppes announced that at its annual meeting of shareholders held today, shareholders re-elected Dorrit Bern, the company’s president and ceo, and Alan Rosskamm to the board of directors, and elected Arnaud Ajdler, Michael Appel, Richard Bennet III and Michael Goldstein as new directors to the company.

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