Tesco plans to open a 32,500-square-foot store in a former Albertsons location in Los Angeles, double the size store that retail analysts were originally expecting from the grocer. Tesco expects to invest $470 million in its West Coast business and open 150 stores in Southern California, Las Vegas and Phoenix.
Wal-Mart Stores today is expected to announce it is lowering prices on generic drugs in some of its pharmacies, an effort it calls a "major health care initiative." It was not clear if the firm has exclusive agreements with generics makers to ensure low prices.
After several people in Georgia fell ill after drinking carrot juice, the FDA issued a consumer warning regarding the refrigeration of juice. The agency does not believe the toxins were present in the juice before opening.
By utilizing technology, surveillance and other tactics, food retailers were able to reduce their 2005 shrink rate to 1.69%, according to the Food Marketing Institute's loss prevention report. "Retailers who reduce shrink are the most vigilant and foster a culture of low tolerance," said FMI Senior Vice President Michael Sansolo, in a statement. "They detect more theft, worthless checks, counterfeit money, and fraud, yet the impact on their bottom line is lower because they recover more losses and prevent more crime."