Meijer opens Marketplace format store in Chicago area
GRAND RAPIDS, Mich. — Meijer announced that it has opened a new, smaller-format grocery store in the Chicago area.
The 90,000-sq.-ft. Meijer Marketplace store in Melrose Park will feature national and Meijer brand grocery items, along with a full-service pharmacy offering a variety of national and Meijer brand health and beauty products, the company reported.
The Meijer Marketplace also will feature such key merchandise categories as electronics, seasonal items, toys, home, kitchen and bath items and a pet department, with numerous national brand products throughout the aisles. Meijer said it also will take the needs of the community into consideration when adjusting its product offerings.
Meijer’s efforts to engage the community also will include providing local customers with a tailored grocery shopping experience with fresh quality meats and produce, as well as a wide variety of deli, bakery and pantry items. The new Meijer store will include a targeted assortment of Hispanic produce, Italian deli meats, European cookies, a fresh sushi bar, and more than 40 varieties of Hispanic beer.
"Meijer is thrilled to bring our newest store concept to this great community," said Hank Meijer, co-chairman and CEO of the Grand Rapids, Mich.-based retailer. "Our team has worked very hard to bring the great Meijer experience to our new customers in the Melrose Park area, and we’re very proud to join this vibrant neighborhood."
Calgon looks to ‘take consumers away’ this holiday with new spa gift set
BALTIMORE, Md. — Bath and beauty brand Calgon, which is managed by Ilex Consumer Products Group, has unveiled new holiday gift sets that are available at Walgreens.
The Spa Essentials Set includes body mist, shower gel and foam bath, a pack of bath salts and a shower pouf.
There are two gift sets available, priced at $4.99 each, in Morning Glory and Hawaiian Ginger fragrances.
CVS Caremark announces new share repurchase authorization for up to $4B
WOONSOCKET, R.I. — CVS Caremark’s board of directors has approved a new share repurchase program for up to $4 billion of the company’s outstanding common stock.
The share repurchase authorization, which is effective immediately, enables the pharmacy retailer to affect the repurchases from time to time through a combination of open market repurchases, privately negotiated transactions, accelerated share repurchase transactions, and/or other derivative transactions.
The company also stated that it intends to complete its $2 billion share repurchase program, authorized in June 2010, this year as expected. In addition, the company intends to repurchase approximately $1 billion under the new authorization by the end of this year.
"Over the next several years, we expect to generate significantly more free cash flow than what we’ve generated in the past several years. We have a disciplined approach to capital allocation that encompasses investing in internal projects that meet our return hurdles and utilizing our remaining free cash flow to increase shareholder value through dividends and share repurchases. We intend to continue to review our dividend annually and to do share repurchases that are value enhancing,” CVS Caremark EVP and CFO Dave Denton said.
The specific timing and amount of repurchases will vary based on market conditions and other factors. The share repurchase program may be modified, extended or terminated by the board of directors at any time, the company noted.