Wal-Mart expanded its prescription-drug program by offering discounts to employers that buy medicines directly from the retailer's in-store pharmacies. The move is expected to intensify competition with other drug retailers, including CVS Caremark, as well as pharmacy-benefits managers.
The Federal Reserve approved a plan to extend the Term-Asset Backed Securities Loan Facility to commercial real estate securities, effective in June. The decision is expected to help prevent defaults on some commercial real estate mortgages.
Metro's consumer-electronics sales are about $20 billion behind Best Buy, but CEO Eckhard Cordes is boldly forecasting that the German chain will become the largest CE retailer in the world. Cordes is banking on the retailer's aggressive plans to expand its CE unit Media Saturn throughout China.
Developers in West Virginia, particularly in Jefferson and Berkeley counties, are moving forward with projects despite the recession. Population in the region boomed up to 34% between 2000 and 2008, creating further demand for retail, say local authorities.