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Former CVS chief accounting officer named to Dollar General board

BY Michael Johnsen

GOODLETTSVILLE, Tenn. — Dollar General on Wednesday announced the appointment of Paula Price, senior lecturer at Harvard Business School, to its board of directors effective Aug. 26.
 
“We are delighted to welcome Paula to the Dollar General board of directors,” stated Rick Dreiling, Dollar General’s chairman and CEO. “Her broad financial experience, including as CFP of Ahold USA and as a board member for several public companies, brings valuable insights to our company as we continue to grow our business.”
 
The election of Price to Dollar General’s board will bring the total number of directors to eight. Price, who has been designated an audit committee financial expert, will serve on the audit committee of Dollar General’s board.
 
Price has been senior lecturer at Harvard Business School in the Accounting and Management Unit since July 2014. She was EVP and CFO of Ahold USA from May 2009 until January 2014. Before joining Ahold, she was the SVP controller and chief accounting officer at CVS Caremark Corporation from July 2006 until August 2008. Earlier in her career, Price served as the CFO for the Institutional Trust Services division of JPMorgan Chase and held several other senior management positions in the U.S. and the U.K. in the financial services and consumer packaged goods industries. 
 
A certified public accountant, she began her career at Arthur Andersen & Co. Price currently serves as a director of Accenture and Western Digital Corporation. She previously served as a director of Charming Shoppes. She earned her MBA from the University of Chicago and her BS from DePaul University.

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NPD: Most fine fragrance users also use some type of scented body product

BY Antoinette Alexander

PORT WASHINGTON, N.Y. — Most fine fragrance users also use some type of a scented body product, according to new research by global information company the NPD Group, representing significant opportunities for the fragrance industry.

NPD’s 2014 Women’s FragranceTrack Report found that 9-out-of-10 women in the United States use a scented personal product, and the majority of fine fragrance users also use some type of scented body product.

Very few women use only fine fragrances. Nearly 60% of women, age 16 years and older, currently use a fine fragrance juice as well as a scented body product. This is a true statement for most women, regardless of their age or race. However, about one-third of women, across all demographic groups, only use a scented body product.

“The wide usage of scented products in the U.S. is an outstanding opportunity for the fragrance industry; the fact that so many women are using more than one type of scented product indicates that the fragrance industry’s audience has a variety of scent needs and desires that they are looking to fulfill,” stated Karen Grant, VP and global beauty industry analyst, the NPD Group. “The scent preferences of yesterday are not the same today. Understanding how fine fragrance now coexist with, and complement, personal ancillaries will help create new and exciting ways to engage the consumer.”

Among personal ancillaries, scented body lotions are most commonly worn at the same time as fine fragrance juices, followed by scented hair mists, and body sprays. Almost 20% of women who use body spray or scented hair mist report they’d be willing to pay more than $16 for the product. While this may sound like a relatively small segment of the market, women who also use a fine fragrance are willing to pay more on average for their ancillary products.

Furthermore, the demographic profiles of fine fragrance users and scented body product users are almost identical. These statements suggest a growth opportunity that exists for the fine fragrance industry among their existing target market, according to NPD.

“Understanding the dynamics behind the desired scent experiences of today’s female fragrance consumer, and their related purchase behaviors, is necessary for the business to evolve and grow as the consumer does,” added Grant. “The fine fragrance market can expand their loyal customer base through new, complementary products and messaging.”
 

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New wearable technology aims to help seniors live independent lives

BY Antoinette Alexander

DAVIE, Fla. — Private healthcare organization CarePredict has introduced Tempo, a wrist-worn sensor that records such daily living activities as quality and amount of sleep, bathing, eating, drinking, cooking and more, to help seniors live an independent life.

Tempo works with room beacons and a discrete communications hub to monitor location and motion. The device then alerts caregivers when something might be wrong. For example, mom or dad resting in the bedroom is identified as a nap but laying down in the kitchen means they could have fallen.

“More adults than ever before are caring for elderly parents. Children want their parents to have the independence and comfort of home, but they also want them to receive the best attention possible,” says CarePredict CEO Satish Movva. “Tempo is an elegant piece of jewelry that studies your loved ones routines in a non-invasive way to help catch subtle changes that can often be indicators of underlying medical conditions."

Every Tempo user has a private online rhythm journal that only authorized individuals in that person’s care network have access to. Tempo owners are able to add or remove members of their care network at any time. The rhythm journal logs changes such as if a loved one is sleeping 40% more than average, if they are spending 30% less time in the kitchen, or if they are waking up several times throughout the night.
 
Tempo is currently available for preorder on Fundable.com for $169.
 

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