News

Walgreens to Cut 1,000 Positions

BY CSA STAFF

Deerfield, Ill. Walgreens announced Thursday it will reduce its corporate staff and field management by approximately 9% by the end of this fiscal year in August. The work-reduction plan will eliminate some 1,000 management jobs through a combination of voluntary and involuntary layoffs in fiscal 2009.

The cuts will not reach into the ranks of hourly store-level employees, Walgreens said.

The job reductions are part of Walgreen’s cost-cutting plan, which is intended to save the company $500 million in fiscal 2010, and $1 billion per year starting in fiscal 2011. The chain announced the “Rewiring for Growth” plan in October, and said it will cost $300 million to $400 million in fiscal 2009 and 2010.

keyboard_arrow_downCOMMENTS

Leave a Reply

No comments found

TRENDING STORIES

Polls

Are you hiring seasonal employees this year?

View Results

Loading ... Loading ...
News

Wal-Mart, Netflix accused of monopoly building

BY CSA STAFF

NEW YORK Wal-Mart Stores and Netflix have been accused of trying to build a monopoly for online DVD rentals in a consumer lawsuit filed Jan. 2 in the U.S. District Court of the Northern District of California, according to reports.

The plaintiffs claim that in 2005, Wal-Mart agreed to end its online rental business and refer customersto Netflix, which in turn agreed to promote Wal-Mart’s DVD movie sales.

keyboard_arrow_downCOMMENTS

Leave a Reply

No comments found

TRENDING STORIES

Polls

Are you hiring seasonal employees this year?

View Results

Loading ... Loading ...
News

Family Dollar posts 1Q earnings growth

BY CSA STAFF

MATTHEWS, N.C. Family Dollar Stores reported that net income per diluted share for the first quarter of fiscal 2009 increased 13.5% to 42 cents compared with 37 cents for the first quarter of fiscal 2008. Net income for the quarter increased 14.1% to $59.3 million compared with net income of $51.9 million for the first quarter of fiscal 2008.

As previously reported, sales for the first quarter of fiscal 2009 were approximately $1.754 billion, or 4.2% above sales of approximately $1.683 billion for the first quarter of fiscal 2008. Comparable-store sales increased 2.1%.

For the fiscal year ending August 29, 2009, the company expects net sales will increase 4% to 6% and expects comparable-store sales will increase 2% to 4%. Anticipating continued strong sales of consumable merchandise, the company expects earnings per share will be between $1.63 and $1.81 in fiscal 2009.

keyboard_arrow_downCOMMENTS

Leave a Reply

No comments found

TRENDING STORIES

Polls

Are you hiring seasonal employees this year?

View Results

Loading ... Loading ...