Giant Eagle inks deal with FoodLink on fresh food supply
LOS GATOS, Calif. — FoodLink, an online network for fresh food retailers, wholesalers and suppliers, on Tuesday announced its status as a certified partner to Giant Eagle. With 228 supermarket locations, Giant Eagle is one of the largest produce buyers in the country, FoodLink stated.
“We strive to offer our customers a wide selection of fresh, high-quality products at low everyday prices,” stated Craig Ignatz, VP produce at Giant Eagle. “FoodLink will be an important part of helping improve our operations to better serve these customers through more effective sourcing and partnering with a wide network of perishable goods suppliers.”
FoodLink is an online network that connects all of the participants in a fragmented perishable goods supply chain. The network consists of more than 2,000 retail grocers and their fresh food suppliers, including carriers and third-party brokers and wholesalers. The network helps retailers manage the fresh food category to source products at competitive prices while reducing waste and inefficiencies across the supply chain.
Weis reports 3Q same-store sales increase of 6.5%
SUNBURY, Pa. — Weis Markets on Wednesday reported third-quarter sales of $678.6 million, an increase of 6%. Comparable-store sales increased 6.5% during the thirteen-week period ended Sept. 24.
"Our company continues to generate strong results in a difficult economic environment," stated Robert Weis, Weis Markets’ chairman. "Cautious consumer spending due to the poor economy continues to impact our business, [and] fuel and wholesale inflation impacted our business during the period."
"We absorbed a significant portion of these cost increases during the quarter and did not pass them on to our customers," Weis added. "Our company continues to benefit from improved operating performance and execution at store level, increased supply chain efficiencies and a disciplined and effective go-to-market strategy."
During the period, the grocer’s net income increased 4.1% to $17 million compared with the same period a year ago. The company’s third-quarter earnings per share increased to 63 cents per share compared with 61 cents per share in 2010.
Teva’s Copaxone reduced brain volume loss in patients, according to study
JERUSALEM — Multiple sclerosis patients treated with a drug made by Teva Pharmaceutical Industries showed a "significant" reduction in their loss of brain volume, according to a new study.
Results of a five-year study published in the Journal of the Neurological Sciences found that Copaxone (glatiramer acetate) produced significant reductions in patients’ loss of brain volume compared with other disease-modifying therapies.
"These data represent the importance of ongoing research in a practical clinical setting to better understand multiple sclerosis and the impact of therapy on the course of the disease," Teva Neuroscience SVP and general manager Jon Congleton said. "Not only does this study highlight the benefit of Copaxone in reducing brain volume loss, it underscores the value of early treatment in influencing long-term outcomes."
In the study, 121 patients were treated with Copaxone, while 101 were treated with Bayer HealthCare Pharmaceuticals’ Betaseron (interferon beta-1b) or Pfizer’s and EMD Serono’s Rebif (interferon beta-1a), and 53 were treated with Biogen Idec’s Avonex (interferon beta-1a).