News

New CEO for Sam’s Club

BY CSA STAFF

Bentonville, Ark., Wal-Mart Stores promoted Doug McMillon, 38, to president and CEO of Sam’s Club, effective immediately. McMillon will report to Wal-Mart Stores, Inc. CEO Lee Scott and replaces Kevin Turner, 40, who is leaving the company to become chief operating officer of Microsoft Corp. Most recently McMillon was executive vice president of merchandising and replenishment at Sam’s Club and helped drive the renewed focus on small business owners. In his 14-year career with the company, McMillon has served as buyer, divisional merchandise manager, general merchandise manager for Sam’s Club International, and senior vice president and general merchandise manager for Wal-Mart.

Turner, who will join Redmond, Wash.-based Microsoft on Sept. 8, was CIO of Wal-Mart Stores before taking the helm at Sam’s Club. He began his career at Wal-Mart as a temporary cashier. In 2003, he was named to Chain Store Age’s list of “Rising Stars, 40 Leaders Under 40.”

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News

Albertsons To Test In-Store Health Clinics

BY CSA STAFF

Boise, Idaho, Albertsons has signed a deal with Take Care Health Systems to test its in-store Health Centers in six Osco Drug Stores in the greater Kansas City market. The clinics will be staffed by certified nurse practitioners who will provide diagnosis and treatment of common family illnesses, administer vaccines and perform diagnostic screenings. Customers will be able to visit the clinics without an appointment.

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FINANCE

CVS Sees Quarterly Profit, Sales Rise

BY CSA STAFF

Chicago, CVS Corp. reported an 18% increase in quarterly profit and a 5.1% rise in July sales in stores open at least a year. The increases are attributed to the greater demand for prescription drugs and more general merchandise sales.

CVS surpassed its expected profits. Analysts had expected a profit of 31 cents per share, but the drugstore chain’s profit rose 33 cents per share to $275.9 million. Last year, profits were $234.5 million, or 28 cents per share.

Preliminary figures revealed a 6.1% increase in pharmacy same-store sales and a 2.9% increase in same-store general merchandise comparable sales for the month of July. CVS will release its final July sales numbers on Thursday.

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