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Recondo Technology names McKesson veteran to chief growth officer post

BY Michael Johnsen

GREENWOOD VILLAGE, Colo. — Recondo Technology, a financial software solutions provider in the healthcare space, on Monday announced that Lori Prestesater has joined the firm as chief growth officer where she will oversee direct sales, indirect and channel sales, marketing and product management. 

Prestesater has been involved in the healthcare industry for the past three decades holding positions of executive and senior leadership across multiple divisions of McKesson, including McKesson Provider Technologies (formerly HBO & Company); McKesson Health Solutions; and RelayHealth. Prior to McKesson, she was with IBM Corporation and most recently served as VP strategic account management for TriZetto Corporation where she led the effort to provide TriZetto solutions to hospitals, health systems and provider-led accountable care organizations through strategic relationships and alliances.

"Lori brings a wealth of skills and expertise to Recondo," Rick Adam, Recondo CEO said. "She has extensive experience in meeting the technology and service requirements of healthcare customers. She will help Recondo continue to enable more efficient operations for both our existing customers and new customers."

"I’m excited to be part of Recondo and look forward to advancing and accelerating our growth," said Lori Prestesater. "Recondo has recently received recognition from Inc. Magazine, Deloitte Touche and Healthcare Informatics, and I’m committed to continuing to drive Recondo growth, market visibility and extended solution portfolio while ensuring that we support our clients with the level of quality they expect."

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Big retailers are early adopters of Pinterest’s API

BY Vivian Gomez

Red hot Pinterest is offering new functunality to third parties that will allow them to curate content and drive traffic to their sites, and major retailers such as Walmart, Target and Zappos are all over it.

Retail partners will be able to embed Pinterest pins directly on their sites, making it easier for users to post content to Pinterest. Users will be able to go to Zappos.com, for example, and see which shoes Pinners covet most. Retailers can use these application programming interfaces, APIs, to show popular products on their home pages or to curate content on Pinterest at any given time. The Pins are updated regularly, so people can always see what’s trending.

In the coming weeks, Pinterest will release additional API endpoints that will surface different groups of Pins on partner sites. Expect API endpoints to start cropping up on a variety of partner websites and apps. In addition to Walmart, Target and Zappos, early adopters include AllRecipes, Better Homes and Garden, BuzzFeed, Disney sites Babble and BabyZone, Elle Magazine, Mashable, ModCloth, NBC News Digital’s iVillage.com, Nestlé, Random House, Snapguide, Wayfair, Whole Foods, Zulily and on the soon-to-launch Spoonful and Tastebook.

 

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Top line troubles continue for Walmart

BY Mike Troy

Walmart managed to achieve its third-quarter profit target despite reporting weaker than expected U.S. sales, which prompted the company to issue a tepid outlook for fourth-quarter sales at Walmart U.S. stores and Sam’s Club units.

The company said same stores sales during the quarter ended October 31 declined 0.3% at U.S. stores compared to a 1.5% increase the prior year while Sam’s Club mustered a 1.1% comp increase compared to a 2.7% increase last year. Through three quarters of the year, Walmart U.S. comps are down 0.7% and Sam’s Club is up 1%. Total Walmart U.S. sales increased 2.4% to $67.7 billion while Sam’s Club sales increased 1.1% to slightly more than $14 billion. Walmart International sales, including the negative effects of currency exchange, increased 0.2% to $33.1 billion. Total company sales advanced 1.6% to $114.9 billion. Without a $1.6 billion negative impact from currency exchange, total sales would have increased 2.7% to $116.2 billion.

Despite the weak top line showing, Walmart managed to generate profits that were a penny better than analysts forecast and within previously provided guidance. Net income increased 2.8% to $3.7 billion while earnings per share increased 6.5% to $1.14 compared to $1.07 last year.
Mike Duke, president and CEO of Wal-Mart Stores, Inc., characterized the profit performance as, “solid,” while emphasizing the need to grow top line sales.

“Walmart delivered solid earnings growth that was within our guidance range. We had strong operating income across our segments, with Walmart U.S. growing almost 6%, Sam’s Club increasing more than 9%, and International up 8% on a constant currency basis," Duke said. “Our most important priority is growing top line sales, including comp sales. The retail environment, both in stores and online, remains competitive. Walmart has aggressive plans to help our customers enjoy the holiday season, and there is no doubt that we plan to win for our customers and shareholders throughout the holidays."

Walmart’s winning plan for the holidays involves expectations of flat same store sales at Walmart U.S. stores and comps at Sam’s that are flat to up 2%. In terms of profit, Walmart’s fourth quarter forecast envision earnings per share in the range of $1.50 to $1.60, including a 10 cent a share negative impact related to the closure of 50 stores in Brazil and China and the severing of a joint venture relationship in India.

"We managed our business well and delivered solid returns to shareholders," Walmart CFO Charles Holley said of the third quarter.

During the quarter, the company repurchased approximately 23 million shares for $1.7 billion and made dividend payments totaling $1.5 billion.

The company ended the quarter with 11,069 stores operating under 69 banners in 27 countries and e-commerce sites in 10 countries.

 

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