Walmart forges new pathway to wellness, challenges others to follow
BENTONVILLE, Ark. — Walmart is hoping to blaze a bold new trail down the path toward wellness in its healthy food discount partnership with HumanaVitality announced this morning, and the global retailer has challenged others to follow.
"We think this effort is the beginning of a journey," John Agwunobi, president of health and wellness for Walmart U.S., told journalists during a press call held Wednesday morning. "Our hope is that others are inspired by this work, candidly. Other retailers. Other healthcare companies," he said. "My hope is it becomes a new way of doing business, a new way of helping the customer."
"The launch of the Vitality Healthy Food program with Walmart as our partner represents an important evolution in HumanaVitality as a solution," noted Joe Woods, CEO of HumanaVitality. HumanaVitality is a rewards program operated by healthcare company Humana through which members earn "Vitality Points for getting active, losing weight and eating healthier." The Vitality Points can be redeemed on more than 600,000 rewards, including movie tickets and merchandise, according to the program’s website.
So on the face of it, the program works much like a loyalty card/discount card program. HumanaVitality members who take advantage of the program are given a card, on which the 5% in savings on select products featuring Walmart’s "Great for You" icon is placed for use on a future Walmart visit. One-third of Walmart’s private label food products qualify for the "Great for You" icon. Another similarity to loyalty card programs: The Walmart/HumanaVitality partnership will yield actionable shopping metrics. "With [HumanaVitality’s] large population, we’ve got a lot of opportunities to collect data and to understand how this is moving the needle or changing behaviors of individual shopping experiences. … We think a million members is an incredible starting point for us to learn a lot," Woods said.
That seems counterintuitive for a retailer that stresses everyday low pricing. "This is exciting because it’s a program that offers a benefit on top of [EDLP] through membership in HumanaVitality," said Andrea Thomas, SVP sustainability at Walmart. "We are all about saving people money so that they can live better," she said. "We feel that this program can become an inspiration for a lot of different relationships to look at ways that we can continue to offer incentives."
The initial program will be open to the more than 1 million HumanaVitality members. "Ultimately we believe that the role [of programs like this] will be to make the healthier choice the much more frequently chosen option," Agwunobi said.
Revlon announces regular dividend on its Series A Preferred Stock
NEW YORK — Revlon’s board has declared a regular dividend of approximately 16.5 cents per share on the Series A Preferred Stock for the period from July 9 through Oct. 8.
This regular dividend is payable on Oct. 8 to holders of record of the Series A Preferred Stock at the close of business on Sept. 28.
As previously disclosed, Revlon issued 9,336,905 shares of Series A Preferred Stock on Oct. 8, 2009. Pursuant to the terms of the Certificate of Designation for the Series A Preferred Stock, each share of Series A Preferred Stock is entitled to receive, when and if declared by Revlon’s board out of legally available funds, cumulative preferential dividends at an annual rate of 12.75% of the $5.21 per share liquidation preference.
The regular dividends are payable quarterly in cash in arrears on Oct. 8, Jan. 8, April 8 and July 8 of each year, or the next business day if such date is not a business day, if declared. The full terms and conditions of the Series A Preferred Stock are set forth in the Certificate of Designation for the Series A Preferred Stock, which Revlon filed with the SEC on Oct. 8, 2009.
Specific Beauty develops new Professional Moisture Complex
NEW YORK — Specific Beauty — a skin care brand developed by Dr. Heather Woolery-Lloyd, a certified dermatologist who focuses on meeting the skin care needs of women with “multihued skin tones” — has expanded its portfolio with the new Professional Moisture Complex.
This patented, paraben-free moisture complex works to hydrate, calm, soothe and brighten the skin. Formulated with plant-derived ingredients to mimic the structure of natural skin lipids, known as ceramides, this technology helps to restore the skin’s moisture protective barrier, the company stated. There’s no added fragrance, dyes or volatile alcohols. The formula is infused with such ingredients as vitamin E and lavender to calm and soothe the skin.
The manufacturer’s suggested retail price is $19.99. Additional information can be found at www.SpecificBeauty.com.