News

Jobless claims at lowest level since 1973

BY Brian Berk

WASHINGTON — The Miami Dolphins had just completed an undefeated season, winning Super Bowl XII by a score of 14-7 over the Washington Redskins. Roberta Flack’s “Killing Me Softly with His Song” was No. 1 on the Billboard charts.

The date was March 31, 1973, the last time initial jobless claims were lower than today’s figures, released Thursday by the U.S. Department of Labor. In March 1973, initial jobless claims were 222,000.

For the week ended Feb. 25 of this year, initial jobless claims were just 233,000, a decrease of 19,000 from the previous week’s revised level.

The year 1973 is also linked to today in another way. The current four-week moving average for initial jobless claims was 234,250, a decrease of 6,250 from the previous week’s revised average and the lowest level since April 14, 1973, when it was 232,750, and when Vicki Lawrence’s “The Night the Lights Went Out in Georgia” topped the charts.

According to experts, this job report, as well as rising interest rates, could push the Federal Reserve to raise interest when it next meets in the middle of this month.

keyboard_arrow_downCOMMENTS

Leave a Reply

No comments found

TRENDING STORIES

News

Albertsons looks to streamline buying process with RangeMe partnership

BY David Salazar
BOISE, Idaho — Albertsons is taking steps to help its buyers add new products to store shelves.
 
By adopting an online platform from RangeMe, buyers will gain an efficient way to discover innovative new products and manage the inbound product submission process. The solution supports buyers’ and suppliers’ efforts in finding relevant and trending products for customers, who then benefit from a broader selection of items to choose from in the aisle, the chain said.
 
"RangeMe makes it easy for suppliers to show us their products and company capabilities so our national sales managers can ensure a good fit for our customers and company before moving forward,” said Pat Dennis, group VP, general merchandising/health and beauty care merchandising.
 
Albertsons will use the solution to scale its retail buying efforts in its general merchandise and health and beauty categories throughout all of its 19 banners. The grocery chain is not the first this year to partner with RangeMe. In January, Ahold USA decided to partner with the company to streamline product discovery and increase supplier diversity. 
 
"This new technology directly benefits our customers and employees alike," said Mark Panzer, Albertsons  SVP of pharmacy health and wellness. "By implementing the platform, our teams can quickly locate and stock shelves with products that our customers want, like organic health and beauty products or local items or brands. It saves us time and money, which is passed on to our shoppers.”
 
(Drug Store News recently spoke to Panzer for its monthly series The Takeaway. To read about Panzer’s career, the best advice he’s received, what he would tell a younger version of himself, what his passions are and more, click here.)

keyboard_arrow_downCOMMENTS

Leave a Reply

No comments found

TRENDING STORIES

News

Extra week in Q4, FY2016 boosts Publix’s sales

BY Marianne Wilson
LAKELAND, Fla. — Publix Supermarkets’ sales and profit rose in the fourth quarter amid continued expansion.
    
Publix’s net earnings for the fourth quarter rose 4.5% to $544.5 million, from $521.1 million in the year-ago period.
 
Sales rose 11.1% to $9.1 billion. (The additional week in the fourth quarter of 2016 increased sales by 7.4%.) Same-store sales increased 2.2%.
 
Publix has been expanding, opening stores in the Carolinas. It will open its first stores in Virginia this year.
 
For the full year ended Dec. 31, 2016, Publix rang up $34 billion in sales, a 5.1% increase from last year. Comparable-store sales rose 1.9%.
 
Net earnings for 2016 were $2.03 billion, compared to $1.97 billion for 2015.
 
Effective March 1, 2017, Publix’s stock price increased from $40.15 per share to $40.90 per share. Publix stock is not publicly traded and is available for sale only to current Publix associates and members of its board of directors.
 
“I’m proud of our Publix associates — the owners of Publix — for continuing to make us a leader in our industry and providing a great shopping experience,” said Publix CEO & president Todd Jones.
    
Currently, Publix has 1,143 stores in Florida, Georgia, Alabama, Tennessee, South Carolina and North Carolina.
 

keyboard_arrow_downCOMMENTS

Leave a Reply

No comments found

TRENDING STORIES