Rite Aid’s May sales drop
CAMP HILL, Pa. Rite Aid reported a decline in its same-store monthly sales.
The Camp Hill, Pa.-based drug store chain said its May same-store sales dropped 1.7%, compared with May 2009. Conversely, May front-end same-stores sales decreased 3.6% while pharmacy same store sales, which included an approximate 124 basis points negative impact from new generic introductions, declined 0.8%.
Rite Aid also reported a loss for its drug store sales, decreasing 2.7% to about $2.44 billion, compared with $2.51 billion in the same period last year.
On May 29, the company operated 4,767 stores compared with 4,825 stores in the like period a year ago.
Kodak introduces new Vision3 products
ROCHESTER, N.Y. Kodak has added new products to its Vision3 line of motion picture products.
The stock additions include a medium-speed, tungsten-balanced color negative camera film and a color intermediate film optimized to work with digital post-production technologies.
“These new Vision3 films are the tangible result of our ongoing commitment to filmmakers,” said Kim Snyder, president of the Entertainment Imaging Division and VP of Eastman Kodak Co. “They were designed based on our customers’ suggestions and with the goal of increasing creative freedom and efficiencies in production and post-production. As filmmaking technology evolves, Kodak continues to lead the way, delivering the highest quality imaging systems and innovative products and services for visual storytellers,” Snyder added.
Supervalu names EVP market, real estate development
MINNEAPOLIS Supervalu on Tuesday promoted J. Andrew Herring as the company’s EVP market and real estate development, effective June 6.
Herring, 51, most recently served as SVP real estate and store development. In his new role, he will be responsible for driving Supervalu’s major growth initiatives, including store development for the company’s traditional retail and Save-A-Lot stores and for its independent retailers, as well as new store growth. Herring will report directly to Craig Herkert, Supervalu CEO and president.
“Driving growth is a critical element of our strategy, and I’m excited to have [Herring] lead this effort and join my executive team,” Herkert said. “[Herring] has a broad range of experience with the company beyond real estate and has played key roles in many of our largest acquisitions. He has been a great asset to us for 12 years and will be invaluable as we continue our focus on being America’s Neighborhood Grocer.”
Herring joined Supervalu in February 1998 as VP corporate development and external relations and was promoted to SVP in 1999. In this position, he was responsible for mergers and acquisitions, corporate communications, industry and government relations, and the company’s corporate foundation. In 2002, he was named EVP Supervalu retail pharmacies, responsible for the company’s in-store pharmacy operations. Starting in late 2005 and during 2006, Herring played a leading role in the acquisition of certain assets of Albertsons and worked in the Supervalu Enterprise Office on post-merger integration matters related to the acquisition.