Costco’s same-store sales up 6% in May
ISSAQUAH, Wash. — Costco reported on Thursday net sales of $8.78 billion for the month of May, an increase of 8% from $8.13 billion during the similar four-week period last year.
In the United States, same-store sales increased 6%. Total company same-store sales also increased 6%.
For the 39 weeks ended June 1, the company reported net sales of $81.99 billion, an increase of 6% from $77.13 billion during the similar period last year.
Coty inks China distribution deal with Li & Fung
NEW YORK — Coty and Li & Fung have entered into an agreement in which Li & Fung will distribute some of Coty’s power brands in China, including adidas, Rimmel, and Playboy.
This agreement with Li & Fung represents a shift in Coty’s go-to-market strategy for brands sold through the mass distribution channel in China, by allowing Coty to leverage Li & Fung’s broad distribution network in that channel. Coty will oversee development, production, marketing and brand building activities, while profiting from the go-to-market capabilities of Li & Fung.
Coty will discontinue the TJoy brand to focus on the international power brands that have more growth potential in China. This distribution agreement is consistent with Coty’s previously announced intent to reorganize Coty’s mass business in China, with the objective of bringing significant benefits to the profitability of Coty China and to the overall skin and body care segment.
The partnership will start July 1 for a handover of the activities concerned.
"We expect our partnership with Li & Fung to accelerate the expansion of some of our international brands in the mass channel, strengthening Coty’s position in this fast growing market," stated Michele Scannavini, CEO of Coty. "Li & Fung is a valued business partner, and we look forward to a long term and successful partnership in China."
Added Gerard Raymond, senior executive at LF Asia, a business unit of Li & Fung, "We are delighted to be deepening the longstanding relationship between LF Asia and Coty. Li & Fung provides its expertise to Coty in different areas of the supply chain, including sourcing, manufacturing and now distribution. LF Asia is uniquely placed to give Coty’s power brands access to the Chinese consumer and throughout our network in China. We are very much looking forward to this opportunity with Coty and we see great potential to develop our partnership further."
HHS earmarks $300 million to expand community health centers, including pharmacy
WASHINGTON – The Deparment of Health and Human Services on Wednesday announced the availability of up to $300 million under the Affordable Care Act to help the nation’s community health centers expand service hours, hire more medical providers and add oral health, behavioral health, pharmacy and vision services.
“Health centers are key to the Affordable Care Act’s goal of expanding access to health care,” stated HHS Secretary Kathleen Sebelius. “They are critical providers of care and also have been instrumental in linking people to coverage through the Health Insurance Marketplace. Health centers provided enrollment assistance to more than 4.7 million people since last fall.”
Today, nearly 1,300 health centers operate more than 9,000 service delivery sites that provide care to more than 21 million patients in every state, the District of Columbia, Puerto Rico, the U.S. Virgin Islands and the Pacific Basin. The health center program is administered by HHS’ Health Resources and Services Administration.
“These funds will allow health centers to expand health services to better serve newly insured patients,” said HRSA Administrator Mary Wakefield.
Health center grantees requesting expanded services funds must demonstrate how these funds will be used to expand primary care medical