Target Lowers Prescription Costs
Minneapolis Target announced new pricing plans for its prescription and over-the-counter drug offerings. In the announcement, the company said that these new plans were implemented in order to stay competitive with Wal-Mart, which recently reported expansion of its own generic drug program.
“We understand the economic challenges our guests are facing and remain committed, as always, to meeting their health and wellness needs at a great value,” said Kathee Tesija, executive VP, merchandising.
The program includes an expanded assortment of $4 prescription drugs, 90-day supply of these medications for $10 and over-the-counter medications for $4 or less.
Similarly, Wal-Mart announced on Monday that it will offer 90-day prescriptions for $10 and lower the prices of more than 1,000 over-the-counter medications to $4 or less.
Report: Sears prepares for challenging future
HOFFMAN ESTATES, Ill. Sears Holdings chairman Edward Lampert reportedly said his company is preparing itself to face further economic challenges.
Lampert said that despite his company’s recent difficulties, such as reporting a near 50% drop in its 4Q net income, it is reducing its own debt and trying not overextend itself.
Lampert added that Sears is targeting its efforts on improving the shopping experience for its customers.
Bon-Ton signs licensing deal with Victor Alfaro
YORK, Pa. Bon-Ton Stores has signed a license and design agreement with Victor Alfaro, an international designer, for an exclusive private brand collection, Victor by Victor Alfaro, which includes misses’, petite’s and women’s apparel, as well as shoes, accessories, jewelry and handbags.
Under the agreement, which was structured by ACI Licensing as the licensing agency on behalf of Victor Alfaro, the collection will be designed by Victor Alfaro. Bon-Ton will manage the sourcing, manufacturing, distribution and marketing of the collection.
Bud Bergren, president and ceo of Bon-Ton, commented, “We are very excited about our new partnership with the acclaimed designer Victor Alfaro. The distinctive styling, quality and the value of this exclusive line strengthens Bon-Ton stores’ position as a destination for fashionable, exclusive apparel and accessories. The collection will have a broad appeal as it crosses a wide range of age groups and demographics. Victor by Victor Alfaro is a compelling addition to our portfolio of exclusive private and national brand offerings which makes Bon-Ton the right place for our customers.”
The Victor by Victor Alfaro line will launch in September 2008 complete with a media and marketing program, fashion shows and personal appearances by Victor Alfaro. The collection addresses the wardrobe needs of the modern and confident woman, with a nod to the classics, and will include luxurious fabrics such as Italian merino wool and cashmere. The shoe collection is made of the finest quality leather. Jewelry and handbags will add the finishing touch with unique beading, designs and leathers. The new line will be sold in 153 stores initially and expand to all stores in spring 2009.