Safeway declares quarterly dividend
PLEASANTON, Calif. — Safeway’s board of directors declared a regular quarterly cash dividend of 12 cents per share. The cash dividend will be payable on Jan. 13, 2011, to stockholders of record at the close of business on Dec. 23.
In related news, the retail chain’s board also increased the authorized level of the company’s stock repurchase program by $1 billion to $7 billion. Through the end of third quarter 2010, Safeway repurchased approximately $5.2 billion of its stock and had approximately $800 million remaining under its stock repurchase program, Safeway said.
CDMA celebrates 85th anniversary with annual trade expo
NOVI, Mich. — A coalition owned by 125 regional drug chains, independent pharmacies, regional drug wholesalers and specialty distributors will host its annual trade expo next month at the Hilton Orlando in Orlando, Fla.
The Chain Drug Marketing Association said it will celebrate its 85th year of uniting suppliers with its members, allowing buyers to discuss business opportunities with exhibitors, meet and exchange ideas with other buyers and learn about new CDMA programs that can help to increase profitability in the front end of their stores.
What’s more, the expo also will include the Store Brand Forum, a one-on-one meeting format with buyers and store brands’ manufacturers, which will feature industry and marketing trends, new product launches and more. Another treat for buyers is the CDMA Showroom and Direct Import area, where a large variety of seasonal and everyday merchandise will be on display.
But while each component of the expo is an excellent opportunity for buyers and members, the CDMA noted the highlight of the expo is the 85th anniversary celebration dinner, which will give all attendees a chance to help CDMA honor the past and to plan for the future.
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PLMA: Private-label products cut grocery bill by more than 30%
NEW YORK — Switching to private-label brands could help consumers save one-third of their typical spend on products, a new study conducted by the Private Label Manufacturers of America found.
In its study, PLMA tracked the pricing for 40 typical grocery items — many of them dubbed "cold weather staples," such as hot chocolate, soup and personal care necessities — at a conventional supermarket over a six-week period. By selecting the store-brand version of the products on the list rather than the national brand, consumers could save an average of $43.92 (a savings of 33.6%). When buying the national brands, the 40-item purchase came to $130.78 on average over six separate trips, while the same purchases for the retailer’s brands cost $86.85 on average, PLMA noted.
In August, the group released a report that private-label purchases and loyalty would forge ahead, noting that more than 60% of consumers purchased private-label products because of the current economic conditions.