News

Publix sees boost in Q1

BY Allison Cerra

LAKELAND, Fla. — First-quarter sales increased 4.2% to $7.1 billion for Publix, the company reported Tuesday.

Comparable-store sales experienced a 3.3% boost, while net earnings for the retailer totaled $409.4 million, compared with $398.2 million in the year-ago period, and net earnings per share rose 1 cent to 52 cents for the quarter.

The company also reported that effective May 1, Publix’s stock price increased from $22.40 per share to $22.70 per share. Publix stock is not publicly traded and is made available for sale only to current Publix associates and members of its board of directors.

"I’m pleased we had another increase in our stock price during a time of economic challenges," Publix CEO Ed Crenshaw said. "Our associates deserve the credit for continuing to make us a leader in our industry."

keyboard_arrow_downCOMMENTS

Leave a Reply

No comments found

TRENDING STORIES

Polls

Which area of the industry do you think Amazon’s entry would shake up the most?
News

CVS/pharmacy’s redesigned mobile app enables shoppers to access ExtraCare cards

BY Antoinette Alexander

WOONSOCKET, R.I. — CVS/pharmacy has updated its mobile application so shoppers now can digitally store their ExtraCare card in their smartphone, eliminating the need to carry an ExtraCare card when shopping.

The CVS/pharmacy ExtraCare Rewards Program is the largest retail rewards program with more than 69 million active cardholders, and the redesigned and updated CVS mobile app now allows members to simply scan the barcode on the back of their card or type in their account number manually. After the barcode is captured, customers’ smartphones will work just like ExtraCare cards at the register.

Available as a free download from Apple’s App Store or through Google Play, the CVS app also offers prescription management, mobile shopping, store locating services and access to the CVS/pharmacy weekly circular.

"During the past few months, we’ve significantly expanded the mobile options available to our digitally minded customers with the goal of creating the most personalized and accessible shopping experience," stated Rob Price, SVP marketing and chief marketing officer for CVS/pharmacy. "ExtraCare members can use the new CVS mobile app to easily store their ExtraCare cards and can also have full access to their ExtraCare accounts right from their smartphones, making it even easier to view their personalized offers and ExtraBucks Rewards."

In addition to access to their ExtraCare barcodes, shoppers using the CVS mobile app will find a redesigned look and feel. The updated interface includes quick thumb links to such features as:

  • Prescription refill scanner;
  • CVS/pharmacy store and MinuteClinic locators;
  • Mobile weekly circular with local deals and promotions;
  • Access to ExtraCare account; and
  • Full m-commerce shopping.

Shoppers can download the applications from their devices or by visiting CVS.com/OnTheGo. The addition of more digital options for the ExtraCare Rewards Program is the latest in a series of new features and enhancements CVS/pharmacy has rolled out for ExtraCare, enabling members of the program to customize their benefits to fit their unique interests and shopping preferences.

keyboard_arrow_downCOMMENTS

Leave a Reply

No comments found

TRENDING STORIES

Polls

Which area of the industry do you think Amazon’s entry would shake up the most?
News

McKesson reports strong Q4, fiscal year 2012

BY Allison Cerra

SAN FRANCISCO — McKesson reported strong fourth-quarter and full-year results, thanks to gains across several of the company’s business segments.

Revenues for the fourth quarter ended March 31 were up 10% to $31.7 billion, compared with the year-ago period, while earnings per diluted share were $2.09, up from $1.62 in the same period last year. For fiscal year 2012, McKesson had revenues of $122.7 billion, up nearly 9.5% from fiscal year 2011. Full-year earnings per diluted share from continuing operations totaled $5.59, up 30% from the prior year.

Adjusted earnings per diluted share were $2.09 in the fourth quarter (up 17% compared with $1.78 a year ago), while full-year adjusted earnings per diluted share was $6.38 (up 20% compared with $5.31 in the prior year).

McKesson said its fourth-quarter and full-year gains were attributed to several factors, including the purchase of Katz Group, which was the company’s largest international acquisition to date. Canadian revenues were up 13% for the fourth quarter (including the unfavorable currency impact of 1%, Canadian revenues increased 12% for the quarter), while for the full year, Canadian revenues grew 3% on a constant currency basis. Including the favorable currency impact of 2%, Canadian revenues grew 5% for the full year.

"Our strong balance sheet and cash flow continue to provide us with opportunities to deploy capital to create value for our shareholders," Hammergren said. "Our acquisition of the Katz Group assets in our fiscal fourth quarter represents our largest international acquisition to date. The acquisition leverages the existing scale of our Canadian banner business and demonstrates our ongoing commitment to the health of the independent pharmacy. In addition, our continued strong cash flow allowed us to execute another accelerated share repurchase program in the fourth quarter. We plan to continue our portfolio approach to capital deployment with a mix of acquisitions, share repurchases, dividends, and internal investments."

Additional highlights included:

  • Distribution Solutions revenues were up 10% for the fourth quarter and 10% for the full year. U.S. pharmaceutical distribution revenues were up 10% for the fourth quarter, primarily reflecting new business with existing customers and market growth. For the full year, U.S. pharmaceutical distribution revenues also increased 10%, primarily reflecting market growth and the US Oncology acquisition;

  • Medical-Surgical distribution and services revenues were up 8% for the fourth quarter and 8% for the full year, primarily driven by market growth and new customers; and

  • Although Technology Solutions revenues were down 2% for the fourth quarter, revenues were up 4% for the full year. "I am pleased to see our Technology Solutions businesses working closely with our customers as they prepare for the requirements of Meaningful Use in the evolving landscape of healthcare IT regulation. We are committed to helping customers use IT strategically to enable better business, better care and better connectivity," Hammergren said.

Looking ahead, Hammergren said McKesson expects adjusted earnings per diluted share will be between $7.05 and $7.35 for fiscal year 2013.


Interested in this topic? Sign up for our weekly Collaborative Care e-newsletter.

keyboard_arrow_downCOMMENTS

Leave a Reply

No comments found

TRENDING STORIES

Polls

Which area of the industry do you think Amazon’s entry would shake up the most?