REAL ESTATE

Nordstrom Rack in Las Vegas to relocate

BY CSA STAFF

Seattle Nordstrom announced plans to relocate its Henderson, Nev., Nordstrom Rack from Silverado Ranch Plaza to Stephanie Street Power Center. The relocated 35,000-sq.-ft. store is expected to open in fall 2011.

The relocated Nordstrom Rack will be slightly larger than the existing store. Nordstrom also believes the Stephanie Street location will offer customers greater convenience, improved accessibility and more shopping choices in the surrounding area than at its current location. The store will be located at the northern end of the center near Barnes & Noble, and will join a retail mix that also includes OfficeMax, Pier 1 Imports, Michaels and Total Wine & More, among others. Harsch Investment Properties is the owner and manager of Stephanie Street Power Center.

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Deloitte: Store brands retain a strong presence in retail

BY CSA STAFF

NEW YORK (Oct. 1)- Deloitte released a report last week that reaffirmed the latest shopping trend among consumers: private-label purchases.

In Deloitte’s new “The Battle for Brands in a World of Private Labels” study, 77% of consumer packaged goods executives and 90% of retail executives surveyed said the market share of store brands will increase significantly by 2012 in the United States, as many consumers find that store brands are manufactured just as well as national brands and find little to no reason to switch back to national brands, Deloitte said.

“Though conventional wisdom has co-branding between retailers and CPG companies as a win-lose proposition, the results of our study indicate that nearly half of retail and CPG executives agree that working together may be the best way to win the wallets of the ‘new consumer,’” said Pat Conroy, vice chairman and Deloitte’s U.S. consumer products practice leader. “What they need to consider are variations on current brands and what new innovations should be brought to market so as not to overwhelm an already substantial marketplace.”

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Walmart, Humana unveil new Medicare Part D prescription drug offering

BY CSA STAFF

BENTONVILLE, Ark. – Walmart and Humana on Friday unveiled a new Medicare Part D prescription drug offering designed to help both companies gain market share and save money for those enrolled in the program. Co-branded as the Humana Walmart-Preferred Rx Plan, the program involves a $14.80 monthly premium that is less than half the weighted 2010 national average, generic drug co-payments as low as $2 at Walmart pharmacies and no co-payments for select generics filled via Humana’s RightSource home-delivery service. Humana and Walmart said the program has the potential to save Medicare Part D enrollees as much as $450 annually.

“People are more likely to take the medications prescribed for them when they can afford those medications,” said William Fleming, PharmD, VP Humana Pharmacy Solutions. “And adhering to prescription-drug regimens can enable people to be healthier and prevent future illness. At Humana, we believe that this prevention helps people live healthier lives and achieve lifelong well-being.”

John Agwunobi, M.D., president of Walmart’s Health and Wellness division said Walmart is uniquely qualified to help lower the cost of prescriptions because it is the world’s largest retailer.

“We know every dollar counts, especially when you live on a fixed income. We believe no one should have to choose between buying their groceries or their medications,” Agwunobi said.

He called the program an example of Walmart’s commitment to help people save money so they can live better.

It is also an example of how Walmart can bring more shoppers to its store. There are an estimated 18 million people enrolled in the Medicare Part D program, but that figure is forecast to grow to 26 million by 2015. Open enrollment in the program begins Nov. 15 and continues through the end of the year, and Humana and Walmart are undertaking an extensive media relations and marketing campaign to drive awareness and education. A key element involves kiosks in some 3,000 stores which will occasionally be staffed by Humana representatives.

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