REAL ESTATE

Loft to open in Vancouver

BY Staff Writer

Vancouver — Loft, a division of Ann Inc., will open its first Canadian West Coast location, at The Village at Park Royal, in Vancouver, on Nov. 15.

Since its arrival in Canada last year, Loft has opened five locations across Ontario and introduced international shipping.

"We’re thrilled to meet our new West Coast clients and look forward to collaborating, sharing advice and learning even more about Vancouver women and their unique style," said Austyn Zung, creative director of design, Loft. "The Vancouver store solidifies our commitment to Canada and we look forward to being in this exciting market."

The new 4,823-sq.-ft. store is situated in the heart of the Vancouver shopping center.

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News

Patagonia selects planning tool from 7thonline

BY Marianne Wilson

New York — Patagonia has selected 7thonline, a New York-based omni-channel merchandise and assortment management solution provider to help the retailer better match production supply with dynamic market demand to drive greater customer satisfaction and increased profitability.

Patagonia will leverage 7thonline’s industry-specific platform with embedded BI and analytics to improve its ability to plan and forecast demand at style/color level, better collaborate with majors, efficiently aggregate demand at the enterprise level, track and analyze global inventory from a single source, and make timely data-driven decisions on total production buy.

Such overall inventory visibility coupled with instant reporting and attribute-based planning and analysis will give Patagonia a strategic advantage to become more proactive in analyzing, anticipating and meeting demand in a highly competitive marketplace, according to 7thonline.

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FINANCE

CVS Q3 profit up 25%; raises outlook

BY Dan Berthiaume

Woonsocket, R.I. – CVS Caremark Corp. on Tuesday raised its profit forecast for the year on Tuesday, amid better-than-expected profit. Net income for the quarter ended Sept. 30, 3013, grew 25% to $1.25 billion, compared to $1 billion in the same quarter the prior year.

Net revenues rose 5.8% to $32 billion compared with the year-ago period.

CVS cited strong performance in the retail pharmacy and pharmacy services segments as helping drive net revenue growth.
“Our third quarter results reflect strong operating performance across the enterprise,” said Larry Merlo, president and CEO of CVS Caremark. “Adjusted earnings per share excluding the settlement gain exceeded the high end of our guidance by two cents per share, primarily reflecting better-than-expected third quarter performance in the PBM. We are well on track for another year of strong growth in 2013."

During the three months ended September 30, 2013, the company opened 49 new retail drugstores, and closed one retail drugstore. In addition, CVS relocated 22 retail drugstores. As of September 30, 2013, CVS operated 7,665 locations in 45 states, the District of Columbia, Puerto Rico and Brazil. These locations included 7,601 retail drug stores, 18 onsite pharmacies, 30 retail specialty pharmacy stores, 12 specialty mail order pharmacies and four mail service pharmacies.

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