The year appears to be off to a good start and CVS executives were optimistic Wednesday morning as the company pulled in a “strong” first quarter and narrowed its 2013 guidance to reflect higher-than-expected performance.
Publix posted first quarter sales of $7.5 billion, representing a 6.1% increase. The Easter holiday in the first quarter of 2013, which was in the second quarter of 2012, increased sales by approximately 1.3%, the grocer noted.
Jo-Ann Fabric and Craft Stores has hired former Disney and J.C. Penney’s executive Kris Arabia as VP of product development. Arabia will report to SVP and chief marketing and merchandising officer Riddianne Kline.
Moms are in for a special treat this Mother’s Day, May 12, according to a survey conducted by the National Retail Federation, but another survey conducted by IBISWorld has found that Mother’s Day spending growth will be flat this year compared to last year.
CVS Caremark announced that it was among several national companies represented at an event hosted on Tuesday by President Obama, VP Joe Biden, First Lady Michelle Obama and Dr. Jill Biden as part of the Joining Forces initiative.
The timing of the New Year and Easter holidays negatively affected Office Depot’s first quarter sales which declined 5% to $2.7 billion and led to a $17 million loss compared to a profit of $41 million in the first quarter of 2012.
Best Buy is leaving the European market. The company is selling its stake in a joint European venture with U.K.-based consumer electronics retailer Carphone Warehouse Group PLC for cash and stock worth about $775 million USD.