Safeway Q3 profit up 6% on cost controls
Pleasanton, Calif. — Safeway reported a 6% rise in fiscal third-quarter profit amid stronger revenue from gasoline sales and cost control efforts. Net income rose to $130.2 million for the period ended Sept. 10, up from $122.8 million, or 33 cents per share, a year ago.
Revenue rose 7% to $10.06 billion, from $9.4 billion. Same-store sales, excluding fuel, rose 1.5%
CVS Caremark launches a new Droid app
WOONSOCKET, R.I. — CVS Caremark has released the Caremark.com Droid application, which provides Android users with access to the Drug Information Database to learn about various prescription drugs and allows CVS Caremark plan members to log in and manage their prescriptions online.
The free app can be used with Android 2.1 OS and above phones. Caremark.com has had an iPhone application available since July 2010, and this new Android application further broadens CVS Caremark members’ mobile access to their prescription information.
"At CVS Caremark we continue to find ways to engage and communicate with our members using new technologies to manage their prescriptions and keep them connected," stated Tim Kurth, VP e-business at CVS Caremark. "The availability of an Android app enables us to provide our plan members with convenient access to their Caremark.com accounts through their preferred mobile devices."
Any Android user can download the application and use the Drug Information function. This function will connect users to the Drug Information Database where they can research particular prescription medications, get information about how to take them, learn about available generic drug alternatives, see an image of the drug, learn about side effects and precautions and more.
CVS Caremark PBM members can use the application to register on Caremark.com or log in to their existing Caremark.com accounts from their Androids. Once they are logged in, members can perform a variety of functions, including:
Refill a prescription;
Check prescription order status;
View prescription history;
Easy mail-service prescription refills;
Online new prescription requests;
Check drug coverage and cost; and
Locate a network pharmacy.
Safeway income grows, sales momentum continues
PLEASANTON, Calif. —Safeway reported net income of $130.2 million (38 cents per diluted share) for the third quarter of 2011 compared with $122.8 million (33 cents per diluted share) for the third quarter of 2010.
Total sales were $10.1 billion in the third quarter of 2011 compared with $9.4 billion in the third quarter of 2010, due primarily to higher fuel sales, a 1.5% increase in identical-store sales (excluding fuel) and a higher Canadian exchange rate.
"Our sales momentum continued to build in the third quarter, and our costs were well controlled," said Steve Burd, chairman, president and CEO. "At the same time, we continued to innovate throughout the business to meet our customers’ needs and build their loyalty."
Safeway is reaffirming earnings per diluted share and free cash flow guidance for the year. Identical-store sales, excluding fuel, are expected to be approximately 1% for the year.