Macy’s creates skin care man cave
PHILADELPHIA — The men’s grooming market is poised for further growth as more than 9-out-of-10 men are using some sort of grooming product today, according to a recent report by the NPD Group. Looking to further tap into the growing segment, Macy’s in downtown Philadelphia has opened a “men’s grooming zone” on its beauty selling floor. The space — which carries high-end grooming brands for men, such as Lab Series Skincare for Men, Shiseido Men and Jack Black — is an ideal “man cave” complete with a flat-screen TV, free wireless Internet and a Keurig coffee maker.
It is “almost a men’s skin care man cave,” Muriel Gonzalez, EVP cosmetics, fragrances and shoes, told the Wall Street Journal. A similar space opened in the Macy’s in San Francisco in June. According to NPD, the men’s facial skin care market has grown 11% in dollar sales in 2011 compared with 2010.
Par to be acquired by investment firm
WOODCLIFF LAKE, N.J. — An affiliate of private investment firm TPG will acquire Par Pharmaceutical Cos., the drug maker said Monday.
Par said it had entered into an agreement to be acquired for $1.9 billion. Par shareholders will receive $50 per share, representing a 37% premium over the company’s Friday closing price.
"We are excited about this transaction as it delivers compelling value to our shareholders," Par chairman and CEO Patrick LePore said. "While my focus and that of the Par board of directors was on shareholder value, we are very pleased that Par will be acquired by TPG, a leading global private investment firm whose substantial resources and healthcare experience will enable Par to continue to invest in its future long-term growth."
Weis Markets celebrates anniversary with 100-day price freeze
SUNBURY, Pa. — Weis Markets has lowered the prices on more than 1,000 staple items and will freeze the prices of these products for 100 days in recognition of its 100-year anniversary.
It also marks the company’s ninth Price Freeze program since 2009.
"We have extended our 90-day price freeze by ten days in recognition of our company’s 100 year anniversary. Since 2009, our Price Freeze program has generated nearly $40 million in savings for our customers," Weis Markets EVP sales and merchandising Kurt Schertle said. "We have locked in long-term savings for customers through long-term deals and strategic buying that will help minimize the impact of commodity inflation in the months ahead."
Weis Markets’ current Price Freeze program includes more than 1,000 brand-name and private-label products in grocery, frozen, dairy, meat, health, beauty care and general merchandise.
The current Price Freeze premiered in Weis Markets’ July 15 circular, radio and billboard advertisements. It will run through Oct. 20. In stores, customers will see Price Freeze signage and shelf tags for participating items.