Online Sales Expected to Rise 17%
New York Online spending is expected to rise a robust 17% this year, despite a sluggish economy that has bruised many brick-based retailers, according to an annual survey released Tuesday.
Online retail sales, excluding travel purchases, are set to grow to $204 billion in 2008 from $174.5 billion last year, fueled by sales of apparel, computers and autos, according to a survey conducted by Internet-analysis firm Forrester Research for Shop.org, the online arm of the National Retail Federation trade group. That projection is below the 21% increase seen in the prior year, but industry officials attribute it to the maturing of the business, not the sluggish economy.
E-commerce “is clearly the bright spot in retailing,” said Scott Silverman, executive director of Shop.org.
According to the Associated Press, the upbeat report contrasts with the outlook for many traditional retailers that have been struggling amid the sluggish economy.
Rite Aid to open doctor-staffed clinics
COLUMBIA, Md. Rite Aid will be opening retail clinics at four locations in Baltimore and Washington this summer, Rite Aid and clinic partner MedStar Health announced on April 8.
“MedStar PromptCare clinics will provide our customers and community with accessible, high-quality medical care in a convenient setting,” stated Mark de Bruin, Rite Aid evp of pharmacy services. “These in-store health clinics offer services that complement the medication counseling and care provided by our pharmacists. It’s a great combination and clearly supports Rite Aid’s focus on health and wellness.”
MedStar Health, a large Mid-Atlantic hospital and health care provider, Rite Aid and Consumer Health Services, a manager of on-site physician-staffed health clinics, have entered into an agreement to launch MedStar PromptCare walk-in health clinics inside select Rite Aid stores.
Under the agreement, MedStar Health will provide clinical oversight and ensure access to necessary follow-up specialty and acute medical services for the clinics. The clinics will be staffed by physicians to provide treatment for ailments such as strep throat, flu and urinary tract infections; minor injuries such as lacerations, sprains and minor fractures, as well as health and wellness screenings and vaccinations.
MedStar PromptCare physicians will be credentialed by and have admitting privileges to MedStar Health’s hospitals, including Georgetown University Hospital and Washington Hospital Center in Washington, as well as Montgomery General Hospital in Montgomery County, Md., and Franklin Square Hospital Center, Good Samaritan Hospital, Harbor Hospital, and Union Memorial Hospital, which are all located in Baltimore.
Target ceo banks $140M
NEW YORK According to a regulatory filing, Target’s outgoing ceo Robert Ulrich took in more than $140 million in deferred compensation and pension benefits during his four-decade tenure at the discount retailer.
Robert Ulrich is expected to retire as ceo on May 1, but he will remain chairman of the board. Gregg Steinhafel, who joined Target in 1979 and is now its president, will succeed Ulrich as ceo.
In a regulatory filing, Target said Ulrich received much of his compensation in the mid-1980s, into the the 1990s through a deferred compensation program designed to retain top talent and reward longevity with the company.
This helped build his $140.7 million in accumulated savings, earnings and supplemental pension benefits, the filing said.