Supervalu sales, earnings decline
MINNEAPOLIS Supervalu reported that its net sales for the first quarter of fiscal year 2010 dropped 4.5% from the year-ago period.
The grocer said Tuesday its net earnings dropped significantly to $113 million, or $0.53 per diluted share, from $162 million, or $0.76 per diluted share, during first quarter 2009.
“As we noted in our press release of June 24, our first quarter results reflected the continuing difficult economic environment as well as investments we are making in price and higher levels of promotional spending. As a result, sales and margins in the first quarter were weaker than originally expected. We anticipate no near-term change in consumer spending patterns and we will operate our business accordingly,” said Craig Herkert, CEO at Supervalu.
First quarter retail food net sales were $9.9 billion, compared with $10.3 billion last year, a decrease of 4.3%, primarily reflecting the impact of identical store sales of negative 3.2% and previously announced store closures. The identical store sales performance primarily results from a challenging economic environment, heightened competitive activity and additional investments in price and promotions. Retail square footage decreased 3.2% from the first quarter of fiscal 2009. Excluding the impact of store closures, total retail square footage increased 0.8%, compared with the first quarter of fiscal 2009.
Ross Valley Pharmacy develops medication management, diabetes counseling initiatives
NEW YORK There are a couple of items of note with Ross’ announcement. First is the value of the pharmacist. A Kaiser Family Foundation poll released last week found that almost half of Americans are putting off healthcare costs, with 33% of Americans reporting that they’re replacing a possible doctor’s office visit with a trip to the pharmacy to purchase an over-the-counter solution. A higher incidence of OTC use combined with a lower incidence of consultation with a family practitioner could result in some pretty serious adverse events without the intervention of a MTM-minded pharmacist. To be sure, OTC medicines are proving to be very valuable to consumers during these recessionary times, but the fact is that nonprescription medicines are still medicines, and it’s not only important to use as directed, but also to speak with a pharmacist around a patient’s entire drug/supplement regimen.
Second, it further substantiates several trends — a trend toward utilizing Internet technology to help manage healthcare conditions; a marriage of sorts between that Internet interoperability and smart phones; and the desire to have a privacy-protected online home around those healthcare conditions.
TheCarrot.com site provides tools for tracking a variety of topics including health, nutrition, fitness, and medicines all within a layman-friendly calendar format. Through the free, anonymous service, consumers can achieve a more comprehensive view of their health conditions. TheCarrot.com also allows users to employ a cell phone or iPhone to upload healthcare datapoints.
Gaiam brings three classics films home for the holidays
BROOMFIELD, Colo. Gaiam is bringing together three classic holiday films from ITV Global with the DVD releases of festive films starring the great talents of Henry Winkler, Jason Gedrick, Rhea Perlman and Tom Arnold.
“The Most Wonderful Time of the Year,” “The Christmas Choir” and “Moonlight Mistletoe” debuted on the Hallmark Channel in 2008, and thanks to Gaiam, the films are coming to DVD for the first time on Oct. 13.
“We are thrilled to be working with ITV Global to bring all the fun and joy of these great new Christmas classics to consumers nationwide,” said William S. Sondheim, president of entertainment and worldwide distribution for Gaiam. “These quality films truly embrace the warmth and heart of the holidays and will surely help bring the whole family together this season.”