Friday, November 7, 2008

Morning Briefs...

Costco Wholesale CorporationImage via Wikipedia

FutureScripts senior vice president Paul N. Urick, R.Ph., announced today that the United Food and Commercial Workers (UFCW) Local 1776 and its Participating Employers Health and Welfare Fund have agreed to and implemented a three-year agreement to offer its members pharmacy coverage through FutureScripts. UFCW Local 1776's new contract with FutureScripts provides pharmacy benefits to more than 17,000 union members and their families in southeastern Pennsylvania.

A&P here yesterday said it has converted two more stores in the Philadelphia area to its price-impact Pathmark format.

Fresh Grocer here is planning to expand its “urban fresh” format to Wilmington, Del., with a grand opening Nov. 15. The 45,000-square-foot store, formerly a Great Value location (also owned by Fresh Grocer), will be the first Fresh Grocer location outside Pennsylvania.

Costco Wholesale yesterday posted negative comparable-store sales for October — the first time the retailer has ever done so, according to some observers — as retailers overall had their worth single month in decades.

Wegmans Food Markets has lowered prices on hundreds of products — including its private labels — for an extended period of time to help cash-strapped consumers through the economic storm, the company said. The new prices cover the bakery, meat, produce, deli and grocery departments, and could save shoppers $40 to $60 a month.

Bloomberg announces a plastic bag tax.

Must Read:
With Barack Obama's election as president and Democrats controlling Congress, retailers and industry trade groups are bracing for a fight on Capitol Hill next year against legislation that would make it easier to unionize workers.

The American economy lost another 240,000 jobs in October, the government reported Friday morning, the 10th consecutive monthly decline and a clear signal that an accelerating slowdown is assailing households and businesses. The unemployment rate climbed to 6.5 percent , the highest level since 1994 and up from 6.1 percent the month before.

Obama called 9 world leaders yesterday.
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