News

Former Vitamin Shoppe president, COO takes the reins at GNC

BY Michael Johnsen

PITTSBURGH — GNC Holdings on Tuesday named Michael Archbold CEO and appointed him to the board, effective immediately. Stepping down from the CEO post is Joseph Fortunato, formerly chairman, president and CEO. Lead independent director, Michael Hines, has been elected non-executive chairman of the GNC board.
 
Archbold has more than 25 years of retail industry experience. He most recently served as CEO and CFO of Talbots, a retailer of women's apparel, where he successfully implemented a comprehensive strategy to enhance the customer experience resulting in significant improvement in the company's financial results. Prior to joining Talbots, he served in a variety of senior roles, including president and COO of nutritional product retailer Vitamin Shoppe, where he had oversight of customer initiatives, driving revenue growth and profitability. Archbold previously held senior leadership positions, including serving as CFO, at Saks Fifth Avenue and AutoZone. 
 
"The board is committed to delivering improved financial results and creating value for GNC shareholders and we are pleased that Mike has agreed to join GNC. He is a world-class executive with highly relevant retail experience and financial expertise, proven leadership skills and a track record of developing strong corporate cultures and delivering superior financial performance," Hines stated. "Joe Fortunato led GNC through a period of considerable growth, innovation and transformation. We thank him for his significant contributions to the Company and we wish him well in the future."
 

keyboard_arrow_downCOMMENTS

Leave a Reply

No comments found

TRENDING STORIES

News

Walgreens July sales climb 6.1% to $6.4 billion

BY DSN STAFF

DEERFIELD, Ill. — Walgreens on Tuesday reported July sales of $6.4 billion, an increase of 6.1% compared to the same month in fiscal 2013.
 
Total front-end sales increased 1.4% in July compared with the same month in fiscal 2013, while comparable store front-end sales increased 1.1%. Customer traffic in comparable stores decreased 2.6% while basket size increased 3.7%.
 
Prescriptions filled at comparable stores increased by 3.7% in July and increased 4.3% on a calendar day-shift adjusted basis. July 2014 had one additional Thursday and one fewer Monday compared with July 2013. These calendar shifts negatively impacted prescriptions filled at comparable stores by 60 basis points.
 
July pharmacy sales increased by 9.5%. Comparable store pharmacy sales increased 7.6% and increased by a calendar day-shift adjusted 8.2%. Calendar day-shift adjusted comparable store pharmacy sales were negatively impacted by 170 basis points due to generic drug introductions in the last 12 months. Pharmacy sales accounted for 66.5% of total sales for the month.
 
Sales in comparable stores increased by 5.2% in July. Calendar day shifts negatively impacted total comparable sales by 40 basis points. Generic drug introductions in the last 12 months negatively impacted total comparable sales by 110 basis points.
 
Calendar 2014 year-to-date sales for the first seven months were $44.5 billion, an increase of 5.9%.
 
Fiscal 2014 year-to-date sales for the first 11 months were $70 billion, an increase of 6%.
 
Walgreens opened eight stores during July, including one relocation, and closed 30. Nearly all of the July store closings were part of the company’s previously announced efforts to optimize its asset base by closing a total of 76 drug stores.

keyboard_arrow_downCOMMENTS

Leave a Reply

No comments found

TRENDING STORIES

News

Barbara Walters to headline 2014 NACDS Foundation Dinner

BY Antoinette Alexander

ARLINGTON, Va. — Renowned news correspondent, host and producer Barbara Walters will serve as the keynote speaker for the National Association of Chain Drug Stores Foundation Dinner, which will be held on Dec. 3 in New York City.

In its 16th year, the NACDS Foundation Dinner and contributions from the Foundation’s benefactors help support evidence-based research that advances patient care, pharmacy education, student scholarships, and charitable organizations that improve patient outcomes.

“Throughout her career, Barbara Walters has given viewers new perspectives on the fascinating leaders and luminaries she has interviewed,” stated NACDS Foundation president Kathleen Jaeger. “Her ability to bring a truly personal approach to the news helped her to emerge as one of the most highly-respected journalists in television history.  We are deeply honored that Ms. Walters will serve as the keynote speaker for the NACDS Foundation Dinner this year.”

A native of Boston, Mass., Walters’ television career spans more than five decades. Known for her exclusive interviews with world leaders, primetime specials and daytime television, Walters has interviewed every American President and First Lady since Richard Nixon. Walters made news history by arranging the first joint interview with Egypt’s President Anwar Sadat and Israel’s Prime Minister Menachem Begin in November 1977. Another of her “firsts” was an hour-long primetime conversation with Cuban President Fidel Castro — an interview which has been printed in half a dozen languages and broadcast all over the world.

Walters appeared on NBC’s “Today Show” for 15 years. She began as a writer on the “Today Show,” and within a year became a reporter-at-large, developing, writing and editing her own reports and interviews. In 1963 she became a co-host of the program without the official title, but in 1974 NBC officially designated her as the program’s first female co-host. During this time, Walters was a member of the NBC News team that went to the People’s Republic of China to cover the visits of President Richard Nixon in 1972 and President Gerald Ford in 1975.

In 1976, Walters joined ABC News as the first woman to co-host the network news.  Likely most well-known for her career with the ABC network, Walters served as co-host and chief correspondent of ABC News’  “20/20” for 25 years, and today is creator, co-owner, executive producer and co-host of the network’s “The View.”

Walters is also known for her primetime specials, including “The Barbara Walters Specials,” which are still top-rated specials and have included such legends as Sir Laurence Olivier, Bing Crosby, John Wayne, Bette Davis, Audrey Hepburn, as well as celebrities such as Betty White, David and Victoria Beckham, and George Clooney.

Through the years she has interviewed such world figures as Russia’s Boris Yeltsin, Chinese Premier Jiang Zemin, Great Britain’s former Prime Minister Margaret Thatcher, Libya’s Moammar Qadaffi and Iraq’s President Sadaam Hussein. She was also the first American journalist to interview Russia’s President Vladimir Putin, and she conducted the first interview with President George W. Bush and the First Lady following the attacks of Sept. 11, 2001.

Walters has received countless awards, distinctions and accolades, including Induction into the Academy of Television Arts and Sciences’ Hall of Fame in 1990 “for being acknowledged worldwide as one of television’s most respected interviewers and journalists;” the 2009 Daytime Emmy Award for “Outstanding Talk Show Host” for the View; and receiving a star on the Hollywood Walk of Fame. Walters is also a New York Times best-selling author for her very personal and revealing memoir “Audition,” released in 2008.
 

keyboard_arrow_downCOMMENTS

Leave a Reply

No comments found

TRENDING STORIES