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Target launches REDcard program for Canadian customers

BY Alaric DeArment

TORONTO — Target has made its REDcard cards available for customers at its Canadian stores, the mass merchandise retailer said.

Target said its Target Debit Card and the Target RBC MasterCard were available at Target.ca/redcard, and customers at Canadian stores using the cards would get an additional 5% off. The Target Debit Card links to the user’s checking account, while the Target RBC MasterCard is issued by the Royal Bank of Canada. Holders of the latter will earn Target GiftCard Rewards on purchases outside of Target in addition to the 5% discount.

"Target’s REDcard Rewards program is a key part of our ‘Expect More. Pay Less.’ brand promise, offering guests an additional 5% savings on top of our already low prices," Target Canada president Tony Fisher said. "We know our guests value the instant savings that come with a REDcard, and we want to ensure Canadian guests apply now so they are ready when their neighborhood Target store opens its doors."


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Ahold appoints Jan van Dam as EVP supply chain and e-commerce

BY Alaric DeArment

CARLISLE, Pa. — Ahold has appointed the former head of one of its European supermarket chains to an executive position in its U.S. division.

Ahold USA said it appointed Jan van Dam as EVP supply chain and e-commerce, in which he will focus on supply chain for the company’s four U.S. divisions, Stop & Shop in the New York area and New England, Giant-Landover and Giant-Carlisle. He will also be responsible for the company’s e-commerce business with Andrew Parkinson, president and general manager of online grocery company Peapod, reporting to him.

Van Dam has worked for Ahold for 17 years, previously serving as president and CEO of Albert/Hypernova, a supermarket chain operating in the Czech Republic and Slovakia. Before that, he was general manager of Dutch retail pharmacy chain Etos and also served in a number of leadership positions at the Dutch supermarket chain Albert Heijn.

"Jan will add valuable retail expertise to Ahold USA’s leadership team," Ahold USA COO James McCann said. "Jan’s responsibility over the e-commerce side of our business will also enable us to accelerate its expansion and maximize supply chain synergies across Ahold USA and Peapod."


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Cardinal quarterly revenue down 7%, earnings-per-share up 15%

BY Michael Johnsen

DUBLIN, Ohio — Cardinal Health on Tuesday posted $25.2 billion in revenue for its 2013 second quarter, down 7%. The company’s non-GAAP diluted earnings per share was up 15% to $0.93. 

"We’ve now completed a strong first half to our fiscal 2013 with a good second-quarter performance. While continued brand-to-generic conversions and the previously announced movement of the Express Scripts contract drove a revenue decline in the pharmaceutical segment, excellent performance from our generic programs and new customer wins fueled profit gains," stated George Barrett, chairman and CEO Cardinal Health. 

Revenue for the pharmaceutical segment decreased 8% to $22.7 billion due to the previously announced non-renewal of the Express Scripts contract as well as expected conversions from branded pharmaceuticals to lower-priced generics. The decline was partially offset by revenues from new pharmaceutical distribution customers. Segment profit increased 12% to $441 million, largely from overall strong performance from generics programs and benefits of customer and product mix within pharmaceutical distribution, partially offset by the impact of continued market softness in our nuclear business.

In addition, the company tightened its fiscal 2013 outlook for non-GAAP diluted EPS from continuing operations to $3.42 to $3.50, which represents the top half of the prior guidance range.


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