News

Retail Brand to Sell Casual Corner

BY CSA STAFF

New York City, Retail Brand Alliance Inc. will sell all 550 Casual Corner stores to Gordon Brothers Group LLC, a Boston-based retail liquidator. Casual Corner is a women’s clothing chain that has been struggling recently.

Claudio Del Vecchio, president and chief executive of Retail Brand Alliance, said New York & Co. was interested in acquiring 250 Casual Corner locations. New York & Co. also sells women’s apparel and is a competitor of Casual Corner. Del Vecchio said the retailer is currently in negotiations with Gordon Brothers to acquire the sites. He would not discuss the terms of the deal.

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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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