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Walgreens CEO Received $5.6 Million in Compensation

BY CSA STAFF

New York City Former Walgreen Co. chairman and CEO Jeffrey Rein received compensation worth $5.6 million during fiscal 2008, according to an analyst of a regulatory filing Tuesday.

The compensation was detailed in the Deerfield, Ill., company’s proxy filing for the 12 months ended Aug. 31, during which time the chain’s profit grew almost 6%.

Rein became CEO in July 2006, and resigned Oct. 10 after 26 years with the company. No reason was given for his departure, but his resignation came two days after Walgreens withdrew an unsuccessful buyout bid for California-based rival Longs Drugs Stores Corp., which ultimately sold itself to CVS Caremark Corp.

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Fisher resigns from Godinger

BY CSA STAFF

NEW YORK Mark Fisher has resigned as president and chief marketing officer of Godinger. He will become a partner at International Industrial Development Associates.

Fisher was with Godinger for 15 years, his tasks will be assumed internally.

 

 

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Charming Shoppes posts better-than-expected 3Q loss

BY CSA STAFF

BENSALEM, Pa. Charming Shoppes reported a loss form continuing operations of $23.7 million of 21 cents per diluted share on a non-GAAP basis. The company had projected a diluted loss per share in the range of 35 cents to 37 cents.

Net sales from continuing operations for the thirteen weeks ended Nov. 1 decreased 8% to $553.1 million, compared to net sales from continuing operations of $599.7 million for the thirteen weeks ended Nov. 3, 2007.

Net sales for the company’s retail stores segment were $528.5 million during the quarter, a decrease of 10% compared to $588.1 million during the same period last year. Consolidated comparable-store sales for the company’s retail stores segment decreased 9% during the quarter. The decrease in consolidated comparable-store sales compares favorably to the company’s previous projection for sales declines in the low double digits.

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