Abusable prescription drugs easy to find for young people, survey finds
BOSTON — More than half of parents in Massachusetts said their children have access to prescription drugs that could be abused, according to a new survey.
Results of the survey of 300 parents with children ages 12 to 25 years, released Wednesday by The Partnership at Drugfree.org during a briefing at the Massachusetts State House, indicated that 56% of parents said their kids had access to their drugs, while 14% had given their children prescription pain medicines for which the children did not have prescriptions. More people in Massachusetts die each year from fatal drug overdoses than from car accidents, according to the Centers for Disease Control and Prevention, while according to the state’s public health department, an average of 12 residents each week die from opioid overdoses.
"The survey findings are alarming and indicate that parents are often providing prescription drugs to their kids in an improper and dangerous manner," Partnership at Drugfree.org president and CEO Steve Pasierb said. "Add to that their acknowledgement that their children have ready access to potentially dangerous pain relievers, and we have a high-risk situation in homes across the commonwealth."
Safeway sales positive thanks to fuel, loyal shoppers
PLEASANTON, Calif. — Sales at Safeway are looking up thanks in large part to fuel gains, but the grocer’s loyalty card program is expected to continue driving that sales momentum into next year as the company rolls out its Just for U digital marketing platform and explores health-and-wellness initiatives.
"The upside in the quarter was driven mostly by better than expected sales, as [identical store sales] of [greater than] 1.5% exceeded consensus and our estimate of just under a 1% increase," Edward Kelly, research analyst for Credit Suisse, wrote in a note Thursday morning. "Bottom line here is that the quarter was much better then very low expectations. While it does not represent an inflection point in the company’s challenging fundamentals, it does provide more comfort in the company’s ability to achieve current years numbers against a low valuation."
Safeway also beat analyst earnings estimates and same-store sale projections.
"Our sales momentum continued to build in the third quarter, and our costs were well-controlled," stated Steve Burd, chairman, president and CEO. "At the same time, we continued to innovate throughout the business to meet our customers’ needs and build their loyalty. Our ‘Just for U’ digital marketing platform and our proprietary Open Nature line of 100% natural foods are good examples of these efforts."
Safeway has currently rolled out its Just for U platform — a personalized deal generator that utilizes purchase histories from Safeway’s loyalty card program — in just two markets. Safeway is rolling that platform into one more market this year and plans to have it available companywide by second quarter 2012, Burd told analysts Thursday morning during a conference call. And while the program has not been heavily promoted within those two markets, Burd added, those are "the two markets where we gained the most this year." Safeway is realizing double-digit sales increases across its most loyal consumers, Burd said.
The company’s overall loyalty card is helping to drive positive lifts in households shopping Safeway. Deals associated with the loyalty card program are "fairly aggressive," Burd said, and are linked to savings at the pumps. Safeway has realized the greatest success in those markets saturated with Safeway fuel stations. "We have some other deals for markets that are not as well-compelemented with fuel," Burd said.
Higher fuel revenue was credited to a 26% increase in the price per gallon of gas as compared to the year-ago and a 13% lift in same-store gallons of gas sold.
Burd also suggested Safeway will be rolling out several health-and-wellness initiatives into 2012. Safeway named its first chief medical officer, Kent Bradley, in September. Bradley has been charged with lowering Safeway’s healthcare outlay for its more than 200,000 covered employees. Simultaneously, Bradley is part of a team at Safeway exploring ways to monetize those health-and-wellness initiatives at its stores. For example, a weight management tool may be one of the initiatives to be introduced in the coming year, Burd said.
For the third quarter ended Sept. 10, Safeway posted sales of $10.1 billion, a 7.4% increase credited primarily to higher fuel sales. Safeway reported a 1.5% increase in identical-store sales (excluding fuel).
Safeway completed five new stores and seven Lifestyle remodels, and closed 11 stores in the quarter. For the year, Safeway plans to invest approximately $1 billion in capital expenditures, while completing 26 new Lifestyle stores and 30 Lifestyle remodels.
S&P lowers WAG to negative, citing failed ESI negotiations
CHICAGO — Standard & Poor’s cut its outlook on Walgreens to negative from stable, citing the lack of progress in the drug store chain’s negotiations with Express Scripts, according to a MarketWatch report published Thursday.
S&P noted that the loss of the Express Scripts contract will result in a meaningful revenue and profit decline in fiscal 2012 in initiating its outlook adjustment.
However, S&P did affirm its ratings on the company, including an ‘A’ corporate credit rating, MarketWatch reported.
Shares of Walgreens were down 18 cents to $32.97 in mid-morning trading.