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CVS records impressive rise in Q3 earnings

BY Antoinette Alexander

WOONSOCKET, R.I. CVS Caremark announced on Thursday that third quarter earnings rose 142.6 percent as revenues totaled $20.5 billion.

Net earnings for the third quarter ended Sept. 29 totaled $689.5 million, or 45 cents per diluted share, compared with earnings of $248.2 million, or 33 cents per share, in the year-ago period. The company estimates that merger and integration costs associated with Caremark negatively impacted diluted earnings per share by about 1 cent for the quarter.

Revenues increased $9.3 billion to $20.5 billion, up from $11.2 billion in the year-ago period. Same-store sales rose 5 percent, while pharmacy same-store sales climbed up 4.3 percent. Pharmacy same-store sales were negatively impacted by about 580 basis points due to recent generic introductions. Same-store front-end sales rose 6.5 percent.

During the quarter, CVS opened 37 new stores, closed eight locations and one mail order pharmacy and relocated 41 others. As of Sept. 29, the company operated 6,206 retail pharmacy stores, 53 specialty stores, 22 specialty mail order pharmacies and nine mail order pharmacies.

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Rite Aid to host caregiver expo with GSK, Drug Store News

BY Michael Johnsen

CAMP HILL, Pa. Rite Aid is set to host the Rite Aid Caregiver Expo this weekend, the chain announced Wednesday morning, in partnership with GlaxoSmithKline and Trib Total Media.

“We and our Expo partners are providing caregivers with convenient and invaluable best practices and information because we know that it sometimes can be challenging to care for a loved one,” stated Mark de Bruin, Rite Aid executive vice president of pharmacy. “At the Expo, caregivers will have the opportunity to get advice directly from healthcare professionals as well as take advantage of a variety of free resources.”

The Rite Aid Caregiver Expo will exclusively house the following resources:

  • Pharmacists, financial planners and legal counsel available to answer questions and provide helpful hints
  • Representatives from hospice care and nursing home facilities
  • Caregiving associations
  • Advice from experts on how to juggle professional and caregiving responsibilities
  • Demonstrations and information on smoking cessation, health and beauty products and healthy eating
  • Information on basic care, disease states and recent research finds
  • Free blood pressure screenings
  • Free product and medication samples

The event has been organized by Drug Store News.

The Rite Aid Caregiver Expo will take place Saturday from 9 a.m. to 5 p.m. in Hall D of the Pittsburgh Convention Center.

Rite Aid operates 175 stores in the Pittsburgh metro area and approximately 611 in Pennsylvania.

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Newell Rubbermaid launches Investing in Community program

BY Allison Cerra

ATLANTA Newell Rubbermaid is set to launch a new strategic, company-wide community investment program.

The program, called Investing in Community, is designed to maximize the company’s impact in communities through cash and in-kind contributions and employee and executive involvement.

The initial spending plan is approximately $2 million, the company said.

Investing in Community, the company said, was developed to address community needs while supporting Newell Rubbermaid’s core consumers and overall business objectives.

“For the first time, through Investing in Community, we are able to harness the philanthropic efforts of all of our employees and brands to yield a greater, more visible impact in the communities where we operate,” said Mark Ketchum, president and chief executive officer of Newell Rubbermaid. “We recognize the importance of giving back to our core consumers, and we are committed to building a best-in-class community involvement program that makes a difference in the lives of our consumers and our employees.”

Investing in Community will focus on three key areas of particular interest to core consumers of Newell Rubbermaid’s brands and is aligned with relevant life stages.

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