Spending by Chicago businesses on dining and retail goods rose in the fourth quarter of 2010 from a year earlier, showing “an overall corporate spending resurgence,” according to data released by American Express Business Insights. Get the full story »
Inside these posts: Retail
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Aetna deal offsets 2Q weakness at CVS Caremark
CVS Caremark Corp. Wednesday reported weaker quarterly earnings and lowered its profit forecast, but shares rose as investors approved of a large pharmacy benefit management services contract struck with Aetna.
CVS Caremark will administer Aetna’s retail pharmacy store network and manage customer service. It will also handle prescription drug purchasing, manage inventories and fill prescriptions for Aetna’s mail-order and specialty pharmacy operations. The contract will ramp up over several years and bring in revenue of $8.2 billion next year. CEO Tom Ryan said the 12-year contract is the largest and longest contract in the industry. Get the full story »
Teen retailers’ prices fall to new lows
It’s a good time to shop for clothes for teens.
Average prices at teen retailers this June are at their lowest levels in almost a year, as stores “are heavy on promotions this month,” according to Eric Beder, a Brean Murray Carret analyst who conducts a monthly pricing study on teen retailers.
Price levels reached a new low for the teen retailers that Brean tracks since it began the pricing study last August.
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General Growth may turn over 13 properties
From Bloomberg | Chicago-based mall operator General Growth Properties said Thursday that i has identified 13 “underperforming” retail properties that may be turned over to lenders after the company emerges from bankruptcy. The company has until two days after it exits bankruptcy to decide whether the properties should be deeded to lenders or the loans should be modified.
Get the full story: businessweek.com.
