According to a new U.S. Census Bureau report, retail and food services sales experienced a nearly 9% increase in April of this year, compared to the same period one year ago. This bodes well for the North American retail sect - and specifically Canadian retail sales as well - since consumers are starting to spend again as the economy recovers from the recession. Interesting stats from the Census Bureau's report shed light on the fact that in the pharmacies and drug stores sector, and the health and personal care stores, sales were up.
______________________
U.S. retail sales see boost in April
By Allison Cerra
WASHINGTON (May17) U.S. retail and food services sales had a near 9% boost in April, compared with the year-ago period, the Census Bureau revealed Friday in a new report.
Total sales were $366.4 billion, a 0.4% increase from March and an 8.8% increase from the year-ago period. Total sales for the February through April 2010 period were up 7.3% (±0.3%) from the same period a year ago.
In the pharmacies and drug stores sector, the Census Bureau said sales stayed in the $18 million range for the month, citing that the agency did not have "sufficient statistical evidence to conclude that the actual change is different than zero." In March 2010, total sales were $18.42 million. The estimate was adjusted for seasonal variations and holiday and trading-day differences, but not for price changes.
Meanwhile, health and personal care stores sales were nearly $21.9 million for the month and alost $86 million for a four-month period, a 2.9% increase from the same period last year. For this estimate, the total was not adjusted for seasonal variations, holiday and trading-day differences and price changes.
SOURCE: Drug Store News
Tuesday, May 18, 2010
INDUSTRY NEWS: Enzymotec krill obtains Novel Food status
Enzymotec's kirll oil has obtained Novel Food status in Europe. This is the fourth krill approval of its kind in Europe. For more on the krill oil criticisms in the news recently, check out the next issue of ihr magazine for our Feature News stories.
_____________________
Enzymotec krill gets Novel Food status
By Lorraine Heller, 18-May-2010
Krill oil as a food ingredient has received another boost in Europe, with Israeli firm Enzymotec announcing its krill product line has obtained Novel Food status.
Krill oil, rich in omega-3, phospholipids and antioxidants, is derived from the planktonic family of crustacean.
Enzymotec entered the market for krill oil in 2007. The firm’s range includes phosphatidylserine-based ingredients it markets for cognitive development, lipids for infant formulas, as well as pure krill oils. The novel foods status granted to Enzymotec’s product is the fourth krill approval of its kind in Europe.
Novel food
Europe's Novel Food regulation was introduced in 1997 and requires any food or ingredient not commonly consumed in the EU prior to May 1997 to undergo safety assessment before it can be sold across the EU's 27-member bloc.
It is a notoriously long-winded and unpopular process that has been much criticised by industry for stalling innovation, but the European Commission has mooted that it will be simplified or streamlined or both.
Sustainability
Krill are tiny shrimp commonly eaten by whales, and which form the largest animal biomass in the world. Omega-3 rich krill oil harvested for human purposes accounts for less than one per cent of that biomass.
The minute crustaceans have been in the public eye of late, over concerns that certain krill fishery was not being conducted in a sustainable manner.
US-based natural foods retailer Whole Foods pulled krill supplements from its shelves, stating that “declines of some predator populations in the areas where the krill fishery operates suggest that fishery management needs to better understand how to evaluate the prey requirements of other marine species in order to set sustainable catch levels for krill.”
SPONSORED LINK
100 % Natural Lime Flavours - a Speciality of Döhler
Fresh, green, trendy, tasty: as a top performer within product innovations lime flavours are a speciality of Döhler. Profiles range from Mexican to Tahitian varieties and offer a unique access to 100 % of fruit origin. Read more... Click here
Enzymotec confirmed its krill products are sustainably harvested. It sources its products only from vessels and facilities monitored by Conservation of Antarctic Marine Living Resources (CCAMLR), it said.
"We are inspecting and verifying that each Krill shipment is harvested within the limits of the zone and dates for which the specific fishing vessels had received its fishing license from CCALMR," said Neta Scheinman Enzymotec's Director of QA.
Demand prompts expansion
Last year, Enzymotec announced the expansion its krill capacity in a move that would consolidate its production in a new 200,000 sq ft facility. This was in response to increased customer demand, the firm said at the time.
In 2008, the firm also expanded its product line to include a krill oil with modified phospholipids and omega-3 content, which it sells at a "significantly lower price" to its high-grade version.
Having a two-tier pricing system for its krill offerings, in addition to its other lipid ingredients, allowed the company to better compete with the likes of global krill market leader, Canadian-based Neptune Technologies & Bioressources.
SOURCE: Nutra-Ingredients
_____________________
Enzymotec krill gets Novel Food status
By Lorraine Heller, 18-May-2010
Krill oil as a food ingredient has received another boost in Europe, with Israeli firm Enzymotec announcing its krill product line has obtained Novel Food status.
Krill oil, rich in omega-3, phospholipids and antioxidants, is derived from the planktonic family of crustacean.
Enzymotec entered the market for krill oil in 2007. The firm’s range includes phosphatidylserine-based ingredients it markets for cognitive development, lipids for infant formulas, as well as pure krill oils. The novel foods status granted to Enzymotec’s product is the fourth krill approval of its kind in Europe.
Novel food
Europe's Novel Food regulation was introduced in 1997 and requires any food or ingredient not commonly consumed in the EU prior to May 1997 to undergo safety assessment before it can be sold across the EU's 27-member bloc.
It is a notoriously long-winded and unpopular process that has been much criticised by industry for stalling innovation, but the European Commission has mooted that it will be simplified or streamlined or both.
Sustainability
Krill are tiny shrimp commonly eaten by whales, and which form the largest animal biomass in the world. Omega-3 rich krill oil harvested for human purposes accounts for less than one per cent of that biomass.
The minute crustaceans have been in the public eye of late, over concerns that certain krill fishery was not being conducted in a sustainable manner.
US-based natural foods retailer Whole Foods pulled krill supplements from its shelves, stating that “declines of some predator populations in the areas where the krill fishery operates suggest that fishery management needs to better understand how to evaluate the prey requirements of other marine species in order to set sustainable catch levels for krill.”
SPONSORED LINK
100 % Natural Lime Flavours - a Speciality of Döhler
Fresh, green, trendy, tasty: as a top performer within product innovations lime flavours are a speciality of Döhler. Profiles range from Mexican to Tahitian varieties and offer a unique access to 100 % of fruit origin. Read more... Click here
Enzymotec confirmed its krill products are sustainably harvested. It sources its products only from vessels and facilities monitored by Conservation of Antarctic Marine Living Resources (CCAMLR), it said.
"We are inspecting and verifying that each Krill shipment is harvested within the limits of the zone and dates for which the specific fishing vessels had received its fishing license from CCALMR," said Neta Scheinman Enzymotec's Director of QA.
Demand prompts expansion
Last year, Enzymotec announced the expansion its krill capacity in a move that would consolidate its production in a new 200,000 sq ft facility. This was in response to increased customer demand, the firm said at the time.
In 2008, the firm also expanded its product line to include a krill oil with modified phospholipids and omega-3 content, which it sells at a "significantly lower price" to its high-grade version.
Having a two-tier pricing system for its krill offerings, in addition to its other lipid ingredients, allowed the company to better compete with the likes of global krill market leader, Canadian-based Neptune Technologies & Bioressources.
SOURCE: Nutra-Ingredients
BUSINESS NEWS: Walmart FY 11 First Quarter Earnings Exceed Guidance
Walmart has reported first quarter earnings. Net sales for the quarter were $99.1 billion, an increase of 6 percent. onsolidated operating income for the first quarter was $5.8 billion, up more than 10 percent from last year, with a significant contribution from Walmart U.S. The company -- all three operating segments and corporate -- leveraged operating expenses for the first quarter.
_______________________
Walmart FY 11 First Quarter Earnings Exceed Guidance and First Call Consensus
Pre-Recorded Phone Call
Highlights
- Walmart reports first quarter earnings per share of $0.88, three cents above the company's latest guidance and the First Call consensus estimate.
- Net sales for the quarter were $99.1 billion, an increase of 6 percent.
- Walmart International remains the fastest-growing segment, with net sales up more than 21 percent on a reported basis and almost 9 percent on a constant currency basis.
- Consolidated operating income for the first quarter was $5.8 billion, up more than 10 percent from last year, with a significant contribution from Walmart U.S.
- The company -- all three operating segments and corporate -- leveraged operating expenses for the first quarter.
- Walmart U.S. comparable store sales for the first quarter 13-week period declined 1.4 percent. Sam's Club posted a comparable club sales increase, without fuel, of 0.7 percent.
- The company ended the quarter with return on investment of 19.1 percent for the trailing 12 months ended April 30, 2010, up from 18.7 percent for the comparable period last year. (1)
- The company added 3.6 million square feet of retail selling space this quarter and expects to have a significant number of new store openings in the second and third quarters.
(1) See additional information at the end of the release regarding non-GAAP financial measures.
BENTONVILLE, Ark., May 18, 2010 /PRNewswire via COMTEX/ --
Wal-Mart Stores, Inc. (NYSE: WMT) today reported record first quarter sales and earnings for the period ended April 30, 2010. Net sales for the first quarter of fiscal year 2011 were $99.1 billion, an increase of 6.0 percent from $93.5 billion in the first quarter last year. Net sales for the first quarter included a currency exchange rate benefit of $2.5 billion. Income from continuing operations attributable to Walmart for the quarter increased to $3.3 billion from $3.0 billion in the first quarter last year.
Diluted earnings per share from continuing operations attributable to Walmart ("EPS") for the first quarter of fiscal year 2011 were $0.88, with a benefit of approximately $0.02 from currency exchange rates. This compares to EPS of $0.77 in the first quarter last year.
"Walmart kicked off the fiscal year with record first quarter net sales and earnings, and I'm pleased that earnings exceeded guidance," said Mike Duke, Wal-Mart Stores, Inc. president and chief executive officer. "Our teams around the world delivered on our commitment to the productivity loop. We leveraged operating expenses for the second consecutive quarter and improved the profitability of our business.
"Our customers, particularly in the United States, are still concerned about their personal finances and unemployment, as well as higher fuel prices," Duke added. "Our commitment to reducing prices and managing expenses positions us well across the retail landscape."
Walmart will continue to grow worldwide, with a significant number of store openings expected for the second and third quarters.
The company ended the first quarter with negative free cash flow of approximately $1.6 billion.(1) Free cash flow for the quarter was affected by the lower inventory position at the end of fiscal year 2010. Inventory levels rebounded by the end of the quarter, but still remain at levels in line with the company's improved inventory management. This inventory increase negatively impacted free cash flow by more than $2 billion.
Net Sales
Net sales were as follows (dollars in billions):
Three Months Ended
April 30,
-------------------------------
Percent
2010 2009 Change
---- ---- ------
Net Sales:
Walmart U.S. $62.324 $61.627 1.1%
Walmart International 25.030 20.621 21.4%
Sam's Club 11.743 11.223 4.6%
---
Total Company $99.097 $93.471 6.0%
First quarter Walmart International net sales were $25.0 billion, an increase of 21.4 percent from last year. The increase in Walmart International net sales includes a $2.5 billion positive impact from currency exchange rate fluctuations. On a constant currency basis, Walmart International net sales were up 8.9 percent to $22.5 billion from last year's first quarter results.
Segment Operating Income
Segment operating income was as follows (dollars in billions):
Three Months Ended
April 30,
---------------------------
Percent
2010 2009 Change
---- ---- --------
Segment Operating Income:
Walmart U.S. $4.638 $4.391 5.6%
Walmart International 1.095 0.857 27.8%
Sam's Club 0.429 0.393 9.2%
(1) See additional information at the end of the release regarding non-GAAP financial measures.
Walmart International reported operating income for the first quarter that included a currency exchange rate benefit of $119 million. On a constant currency basis, Walmart International operating income increased 13.9 percent to $1.0 billion for the first quarter of fiscal 2011 compared to the same period in fiscal year 2010. On a reported basis, Walmart International operating income increased 27.8 percent, to $1.1 billion compared to the same period in fiscal 2010.
Consolidated operating income for the first quarter was $5.8 billion, up 10.6 percent from last year and up 8.4 percent on a constant currency basis.
U.S. Comparable Store Sales
The company reports U.S. comparable store sales in this earnings release based on its 13-week retail calendar periods ended Apr. 30, 2010 and May 1, 2009, as follows:
Without Fuel With Fuel Fuel Impact
----------------- -------------------- -------------------
Thirteen Weeks Thirteen Weeks Thirteen Weeks
Ended Ended Ended
04/30/10 05/01/09 04/30/10 05/01/09 04/30/10 05/01/09
-------- -------- -------- -------- -------- --------
Walmart U.S. -1.4% 3.6% -1.4% 3.6% 0.0% 0.0%
Sam's Club 0.7% 4.2% 3.9% -0.5% 3.2% -4.7%
--- --- --- ---- --- ----
Total U.S. -1.1% 3.7% -0.5% 2.9% 0.6% -0.8%
Data in the condensed consolidated financial statements included in this news release are based on the fiscal quarters ended Apr. 30, 2010 and 2009.
Operating Segments Review and U.S. Comparable Store Sales Expectations
Walmart U.S. had operating income of $4.6 billion for the first quarter, up 5.6 percent from last year. For the first quarter, the structural changes implemented earlier this year enabled the business to leverage expenses and deliver strong profitability. Walmart U.S. comparable store sales declined 1.4 percent due to soft customer traffic, partially offset by an increase in average ticket, compared to the first quarter of fiscal year 2010.
Walmart U.S. expects comparable store sales without fuel during the 13-week period from Sat., May 1, through Fri., July 30, 2010 to be negative 2.0 percent to positive one percent, as compared to a 1.5 percent decline for the comparable period last year.
Sam's Club delivered 0.7 percent comparable club sales without fuel for the first quarter. The clubs had strong sales from fresh foods and health and wellness categories, as well as home and apparel. Sam's Club leveraged operating expenses. Operating income grew at a faster rate than sales, increasing 9.2 percent.
Sam's Club expects comparable club sales without fuel during the second quarter 13-week period to be flat, plus or minus one percent, which compares to a 0.6 percent increase without fuel in the comparable period last year.
Both Walmart U.S. and Sam's Club will report comparable sales for the 13-week period on Aug. 17, 2010, when the company reports second quarter results.
As part of an operational realignment, the Walmart units and Sam's Clubs in Puerto Rico moved from the Walmart International segment to the respective Walmart U.S. and Sam's Club segments, effective this fiscal year. Walmart International now consists of the company's operations outside the United States and Puerto Rico.
Walmart International ended the first quarter of fiscal year 2011 with more than $25 billion in net sales, with currency exchange rate fluctuations benefitting sales by $2.5 billion. On a constant currency basis, sales were up 8.9 percent. Mexico, Canada, Brazil and China drove the strong sales performance. On a constant currency basis, first quarter operating income for Walmart International grew faster than sales, despite a $26-million charge, net of insurance, related to the Chilean earthquake. Walmart International leveraged constant currency operating expenses for the fifth consecutive quarter.
SOURCE: Walmart Corporate Website
_______________________
Walmart FY 11 First Quarter Earnings Exceed Guidance and First Call Consensus
Pre-Recorded Phone Call
Highlights
- Walmart reports first quarter earnings per share of $0.88, three cents above the company's latest guidance and the First Call consensus estimate.
- Net sales for the quarter were $99.1 billion, an increase of 6 percent.
- Walmart International remains the fastest-growing segment, with net sales up more than 21 percent on a reported basis and almost 9 percent on a constant currency basis.
- Consolidated operating income for the first quarter was $5.8 billion, up more than 10 percent from last year, with a significant contribution from Walmart U.S.
- The company -- all three operating segments and corporate -- leveraged operating expenses for the first quarter.
- Walmart U.S. comparable store sales for the first quarter 13-week period declined 1.4 percent. Sam's Club posted a comparable club sales increase, without fuel, of 0.7 percent.
- The company ended the quarter with return on investment of 19.1 percent for the trailing 12 months ended April 30, 2010, up from 18.7 percent for the comparable period last year. (1)
- The company added 3.6 million square feet of retail selling space this quarter and expects to have a significant number of new store openings in the second and third quarters.
(1) See additional information at the end of the release regarding non-GAAP financial measures.
BENTONVILLE, Ark., May 18, 2010 /PRNewswire via COMTEX/ --
Wal-Mart Stores, Inc. (NYSE: WMT) today reported record first quarter sales and earnings for the period ended April 30, 2010. Net sales for the first quarter of fiscal year 2011 were $99.1 billion, an increase of 6.0 percent from $93.5 billion in the first quarter last year. Net sales for the first quarter included a currency exchange rate benefit of $2.5 billion. Income from continuing operations attributable to Walmart for the quarter increased to $3.3 billion from $3.0 billion in the first quarter last year.
Diluted earnings per share from continuing operations attributable to Walmart ("EPS") for the first quarter of fiscal year 2011 were $0.88, with a benefit of approximately $0.02 from currency exchange rates. This compares to EPS of $0.77 in the first quarter last year.
"Walmart kicked off the fiscal year with record first quarter net sales and earnings, and I'm pleased that earnings exceeded guidance," said Mike Duke, Wal-Mart Stores, Inc. president and chief executive officer. "Our teams around the world delivered on our commitment to the productivity loop. We leveraged operating expenses for the second consecutive quarter and improved the profitability of our business.
"Our customers, particularly in the United States, are still concerned about their personal finances and unemployment, as well as higher fuel prices," Duke added. "Our commitment to reducing prices and managing expenses positions us well across the retail landscape."
Walmart will continue to grow worldwide, with a significant number of store openings expected for the second and third quarters.
The company ended the first quarter with negative free cash flow of approximately $1.6 billion.(1) Free cash flow for the quarter was affected by the lower inventory position at the end of fiscal year 2010. Inventory levels rebounded by the end of the quarter, but still remain at levels in line with the company's improved inventory management. This inventory increase negatively impacted free cash flow by more than $2 billion.
Net Sales
Net sales were as follows (dollars in billions):
Three Months Ended
April 30,
-------------------------------
Percent
2010 2009 Change
---- ---- ------
Net Sales:
Walmart U.S. $62.324 $61.627 1.1%
Walmart International 25.030 20.621 21.4%
Sam's Club 11.743 11.223 4.6%
---
Total Company $99.097 $93.471 6.0%
First quarter Walmart International net sales were $25.0 billion, an increase of 21.4 percent from last year. The increase in Walmart International net sales includes a $2.5 billion positive impact from currency exchange rate fluctuations. On a constant currency basis, Walmart International net sales were up 8.9 percent to $22.5 billion from last year's first quarter results.
Segment Operating Income
Segment operating income was as follows (dollars in billions):
Three Months Ended
April 30,
---------------------------
Percent
2010 2009 Change
---- ---- --------
Segment Operating Income:
Walmart U.S. $4.638 $4.391 5.6%
Walmart International 1.095 0.857 27.8%
Sam's Club 0.429 0.393 9.2%
(1) See additional information at the end of the release regarding non-GAAP financial measures.
Walmart International reported operating income for the first quarter that included a currency exchange rate benefit of $119 million. On a constant currency basis, Walmart International operating income increased 13.9 percent to $1.0 billion for the first quarter of fiscal 2011 compared to the same period in fiscal year 2010. On a reported basis, Walmart International operating income increased 27.8 percent, to $1.1 billion compared to the same period in fiscal 2010.
Consolidated operating income for the first quarter was $5.8 billion, up 10.6 percent from last year and up 8.4 percent on a constant currency basis.
U.S. Comparable Store Sales
The company reports U.S. comparable store sales in this earnings release based on its 13-week retail calendar periods ended Apr. 30, 2010 and May 1, 2009, as follows:
Without Fuel With Fuel Fuel Impact
----------------- -------------------- -------------------
Thirteen Weeks Thirteen Weeks Thirteen Weeks
Ended Ended Ended
04/30/10 05/01/09 04/30/10 05/01/09 04/30/10 05/01/09
-------- -------- -------- -------- -------- --------
Walmart U.S. -1.4% 3.6% -1.4% 3.6% 0.0% 0.0%
Sam's Club 0.7% 4.2% 3.9% -0.5% 3.2% -4.7%
--- --- --- ---- --- ----
Total U.S. -1.1% 3.7% -0.5% 2.9% 0.6% -0.8%
Data in the condensed consolidated financial statements included in this news release are based on the fiscal quarters ended Apr. 30, 2010 and 2009.
Operating Segments Review and U.S. Comparable Store Sales Expectations
Walmart U.S. had operating income of $4.6 billion for the first quarter, up 5.6 percent from last year. For the first quarter, the structural changes implemented earlier this year enabled the business to leverage expenses and deliver strong profitability. Walmart U.S. comparable store sales declined 1.4 percent due to soft customer traffic, partially offset by an increase in average ticket, compared to the first quarter of fiscal year 2010.
Walmart U.S. expects comparable store sales without fuel during the 13-week period from Sat., May 1, through Fri., July 30, 2010 to be negative 2.0 percent to positive one percent, as compared to a 1.5 percent decline for the comparable period last year.
Sam's Club delivered 0.7 percent comparable club sales without fuel for the first quarter. The clubs had strong sales from fresh foods and health and wellness categories, as well as home and apparel. Sam's Club leveraged operating expenses. Operating income grew at a faster rate than sales, increasing 9.2 percent.
Sam's Club expects comparable club sales without fuel during the second quarter 13-week period to be flat, plus or minus one percent, which compares to a 0.6 percent increase without fuel in the comparable period last year.
Both Walmart U.S. and Sam's Club will report comparable sales for the 13-week period on Aug. 17, 2010, when the company reports second quarter results.
As part of an operational realignment, the Walmart units and Sam's Clubs in Puerto Rico moved from the Walmart International segment to the respective Walmart U.S. and Sam's Club segments, effective this fiscal year. Walmart International now consists of the company's operations outside the United States and Puerto Rico.
Walmart International ended the first quarter of fiscal year 2011 with more than $25 billion in net sales, with currency exchange rate fluctuations benefitting sales by $2.5 billion. On a constant currency basis, sales were up 8.9 percent. Mexico, Canada, Brazil and China drove the strong sales performance. On a constant currency basis, first quarter operating income for Walmart International grew faster than sales, despite a $26-million charge, net of insurance, related to the Chilean earthquake. Walmart International leveraged constant currency operating expenses for the fifth consecutive quarter.
SOURCE: Walmart Corporate Website
Monday, May 17, 2010
INDUSTRY/RESEARCH NEWS: Study: Retail clinics save nonemergency patients money
According to a study conducted by HealthCore, allergy suffers can save money and still receive convenient, quality care by visiting a retail-based clinic. Further, the study found that few patients who visit retail clinics need follow-up care for their ailments. This information sits well for any retail outlets who currently house areas for on-site treatment and care by health professionals.
____________________
Study: Retail clinics save nonemergency patients money
By Antoinette Alexander
INDIANAPOLIS Allergy sufferers can save money and receive quality, convenient care by skipping the emergency room and instead visiting a retail-based or urgent-care clinic, according to a recent study.
The study conducted by HealthCore, WellPoint’s outcomes research subsidiary, found that patients can save anywhere from $50 to $400 in out-of-pocket costs per visit by skipping the ER and heading to a retail health- or urgent-care clinic when they are unable to see their primary care physician.
“When possible, we recommend that our members visit their primary care physicians for non-emergency treatment,” stated Dr. Manish Oza, WellPoint medical director and emergency room physician. “If that’s not an option, in cases where patients are looking for treatments related to allergies and colds -- such as sinus infections, sore throats, ear infections and bronchitis -- it just makes more economic sense to go to a retail health clinic or urgent-care clinic.”
In addition, the study found that few patients who received care at retail health clinics or urgent-care clinics needed follow-up care for their ailment, implying that they received the appropriate level of care, stated John Barron, HealthCore director for health-plan research.
The study of members in WellPoint’s affiliated health plans in 14 states found that nearly 1-in-5 ER visits (19.4%) were for non-emergencies, including conditions such as upper respiratory infections, sore throats or urinary tract infections. This is during a time when ER visits have increased 31% in 2005 compared with 1995, and ER waits to see a physician have increased from 38 minutes in 1997 to 56 minutes in 2005, according to federal government statistics provided by WellPoint.
Bronchitis, one of the more expensive conditions to treat, cost $646 to treat in the ER, compared with $97 for an urgent-care visit and $54 for a retail health-clinic visit, according to the study. Average costs for ER visits for all conditions studied ranged from $441 for the ER to $98 for urgent care and $52 for retail care. These costs represent total costs, including the portion paid by the health plan member.
The study showed that for every member treated at retail health clinics, about 15 others are treated in the ER for the same conditions.
The study also looked at overall costs to treat individual episodes over a two-week period for ailments associated with allergy, cold and flu, along with conjunctivitis and urinary tract infections. In this case, ER episodes cost an average $500, while urgent care cost $150 and retail health clinic cost $90.
SOURCE: Drug Store News
____________________
Study: Retail clinics save nonemergency patients money
By Antoinette Alexander
INDIANAPOLIS Allergy sufferers can save money and receive quality, convenient care by skipping the emergency room and instead visiting a retail-based or urgent-care clinic, according to a recent study.
The study conducted by HealthCore, WellPoint’s outcomes research subsidiary, found that patients can save anywhere from $50 to $400 in out-of-pocket costs per visit by skipping the ER and heading to a retail health- or urgent-care clinic when they are unable to see their primary care physician.
“When possible, we recommend that our members visit their primary care physicians for non-emergency treatment,” stated Dr. Manish Oza, WellPoint medical director and emergency room physician. “If that’s not an option, in cases where patients are looking for treatments related to allergies and colds -- such as sinus infections, sore throats, ear infections and bronchitis -- it just makes more economic sense to go to a retail health clinic or urgent-care clinic.”
In addition, the study found that few patients who received care at retail health clinics or urgent-care clinics needed follow-up care for their ailment, implying that they received the appropriate level of care, stated John Barron, HealthCore director for health-plan research.
The study of members in WellPoint’s affiliated health plans in 14 states found that nearly 1-in-5 ER visits (19.4%) were for non-emergencies, including conditions such as upper respiratory infections, sore throats or urinary tract infections. This is during a time when ER visits have increased 31% in 2005 compared with 1995, and ER waits to see a physician have increased from 38 minutes in 1997 to 56 minutes in 2005, according to federal government statistics provided by WellPoint.
Bronchitis, one of the more expensive conditions to treat, cost $646 to treat in the ER, compared with $97 for an urgent-care visit and $54 for a retail health-clinic visit, according to the study. Average costs for ER visits for all conditions studied ranged from $441 for the ER to $98 for urgent care and $52 for retail care. These costs represent total costs, including the portion paid by the health plan member.
The study showed that for every member treated at retail health clinics, about 15 others are treated in the ER for the same conditions.
The study also looked at overall costs to treat individual episodes over a two-week period for ailments associated with allergy, cold and flu, along with conjunctivitis and urinary tract infections. In this case, ER episodes cost an average $500, while urgent care cost $150 and retail health clinic cost $90.
SOURCE: Drug Store News
BUSINESS NEWS: Reliv International Declares Dividend
Reliv International Declares Dividend
CHESTERFIELD, Mo., /PRNewswire-FirstCall/ -- Reliv International, Inc. (Nasdaq: RELV), a nutrition and direct selling company, announced Friday that the Board of Directors has declared a dividend of $0.02 per share to all holders of record as of May 24, 2010, to be paid on or about June 3, 2010.
Reliv currently pays dividends twice a year, and this represents the company's first dividend in 2010.
SOURCE: Reliv International Press Release
CHESTERFIELD, Mo., /PRNewswire-FirstCall/ -- Reliv International, Inc. (Nasdaq: RELV), a nutrition and direct selling company, announced Friday that the Board of Directors has declared a dividend of $0.02 per share to all holders of record as of May 24, 2010, to be paid on or about June 3, 2010.
Reliv currently pays dividends twice a year, and this represents the company's first dividend in 2010.
SOURCE: Reliv International Press Release
BUSINESS NEWS: Hain Celestial shares rise after Icahn buys stock
Hain Celestial shares rise after Icahn buys stock
Hain has cut profit targets twice in 2010
Shares in US-based natural and organic food firm Hain Celestial rose more than 7% on Friday after the disclosure that activist investor Carl Icahn has bought an almost 12% stake in the business.
Icahn and funds controlled by him have bought 4.9m shares, or an 11.9% stake, in Hain Celestial.
In a short statement issued to accompany the disclosure, Icahn said he believed Hain's shares were "undervalued" and, after speaking to president and CEO Irwin Simon, "looked forward" to working with the company's management.
Last week, Hain cut its full-year earnings forecast despite swinging to a third-quarter profit. The company also lowered its annual profit targets in February.
SOURCE: just-food.com
Hain has cut profit targets twice in 2010
Shares in US-based natural and organic food firm Hain Celestial rose more than 7% on Friday after the disclosure that activist investor Carl Icahn has bought an almost 12% stake in the business.
Icahn and funds controlled by him have bought 4.9m shares, or an 11.9% stake, in Hain Celestial.
In a short statement issued to accompany the disclosure, Icahn said he believed Hain's shares were "undervalued" and, after speaking to president and CEO Irwin Simon, "looked forward" to working with the company's management.
Last week, Hain cut its full-year earnings forecast despite swinging to a third-quarter profit. The company also lowered its annual profit targets in February.
SOURCE: just-food.com
BUSINESS NEWS: Monthly Survey of Manufacturing - StatsCan
Statistics Canada has posted the monthly survey for manufacturing. Of note: Food manufacturers reported the greatest increase in the value of sales, up 3.5% compared with February. This was the largest increase in food sales since January 2008. Prior to the increase in March, food sales had been relatively flat over the preceding six months.
____________________
Monthly Survey of Manufacturing - STATISTICS CANADA
March 2010
Manufacturing sales advanced 1.2% to $44.5 billion in March. Food and motor vehicle manufacturers were the largest contributors to the gains. Manufacturing sales have been trending upward since the low point reached in May 2009.
Constant dollar manufacturing sales increased 1.7% in March. Constant dollar sales have increased for seven consecutive months.
Sales gains were reported in 12 of 21 industries, representing two-thirds of total sales.
Manufacturing sales advance in March
All data in this release are seasonally adjusted and are expressed in current dollars unless otherwise specified.
Preliminary data are provided for the current reference month. Revised data, based on late responses, are updated for the three previous months.
Non-durable goods industries include food, beverage and tobacco products, textile mills, textile product mills, clothing, leather and allied products, paper, printing and related support activities, petroleum and coal products, chemicals, and plastics and rubber products.
Durable goods industries include wood products, non-metallic mineral products, primary metals, fabricated metal products, machinery, computer and electronic products, electrical equipment, appliances and components, transportation equipment, furniture and related products and miscellaneous manufacturing.
Production-based industries
For the aerospace industry and shipbuilding industries, the value of production is used instead of sales of goods manufactured. This value is calculated by adjusting monthly sales of goods manufactured by the monthly change in inventories of goods in process and finished products manufactured.
Unfilled orders are a stock of orders that will contribute to future sales assuming that the orders are not cancelled.
New orders are those received whether sold in the current month or not. New orders are measured as the sum of sales for the current month plus the change in unfilled orders from the previous month to the current month.
Durable goods as well as food manufacturers behind gains
Food manufacturers reported the greatest increase in the value of sales, up 3.5% compared with February. This was the largest increase in food sales since January 2008. Prior to the increase in March, food sales had been relatively flat over the preceding six months.
Besides food manufacturing, most of the remaining sales increases for March were attributable to the durable goods industries. Motor vehicle manufacturers reported a 3.6% increase in March, the sixth advance in seven months. However, the gain in motor vehicle manufacturing was largely offset by a 9.6% decrease in aerospace products and parts production.
Other durable good sales increases included non-metallic mineral products (+7.7%) and wood product manufacturing (+4.9%). Non-metallic mineral sales, in particular cement and concrete manufacturers, benefited from warm weather in March. Wood product sales have grown steadily over the past six months.
Every province reports gains
Provincial gains were reported across the country in March, ranging from increases of 0.1% in Quebec to 45.0% in Newfoundland and Labrador.
Sales in the Atlantic provinces rose 6.4% in March after a 9.5% drop the previous month. Sales in the region have increased in five of the past six months.
Manufacturers in Manitoba reported a 4.9% increase in sales compared with February, the strongest gain outside of the Atlantic provinces. Manitoba has not seen the same degree of recovery in manufacturing as the other provinces, with sales increasing only twice in the past six months.
Sales were also strong in British Columbia, up 3.8%. Paper products, transportation, and food manufacturers were behind much of the gains. Manufacturing sales in British Columbia have been on the upswing since July 2009.
In Quebec, sales edged up 0.1% compared with February. A 10.6% drop in the transportation equipment industry was offset by strong gains in food, beverage and tobacco, and chemical product manufacturing. Sales in Ontario advanced 0.7%, reflecting rising sales in motor vehicle and motor vehicle parts manufacturing.
Inventory levels decline
Inventory levels fell 1.1% in March compared with February. Inventories dropped steadily from February to September 2009, with the rate of decrease slowing over the past six months.
The decline in March was largely driven by petroleum and coal and aerospace product manufacturers, down 7.3% and 3.3% respectively. Raw materials and finished products were both behind the decrease in petroleum and coal product inventories.
Chemical manufacturing was the main offsetting movement, up 1.4%. About half of the increase was due to resin, synthetic rubber, and artificial and synthetic fibers and filaments manufacturing.
Inventory levels decrease in March
The inventory-to-sales ratio fell from 1.35 in February to 1.32 in March. This was the lowest level since September 2008.
The inventory-to-sales ratio continues to decline
Unfilled orders fall for the first time in four months
The backlog of unfilled orders declined for the first time in four months, down 0.4% to $53.0 billion.
Unfilled orders in the transportation equipment industry fell 0.6%, despite a 0.5% advance in the aerospace industry. Excluding aerospace products and parts, unfilled orders were down 1.0% compared with February.
The other notable decrease in unfilled orders took place in computer and electronic products, down 2.7%.
Unfilled orders decline slightly after three monthly gains
New orders decreased 0.7% in March to $44.3 billion. New orders fell in three key industries, namely computers and electronics, transportation equipment, and machinery. Despite the decrease in March, new orders have been trending upward since June 2009.
SOURCE: Statistics Canada
____________________
Monthly Survey of Manufacturing - STATISTICS CANADA
March 2010
Manufacturing sales advanced 1.2% to $44.5 billion in March. Food and motor vehicle manufacturers were the largest contributors to the gains. Manufacturing sales have been trending upward since the low point reached in May 2009.
Constant dollar manufacturing sales increased 1.7% in March. Constant dollar sales have increased for seven consecutive months.
Sales gains were reported in 12 of 21 industries, representing two-thirds of total sales.
Manufacturing sales advance in March
All data in this release are seasonally adjusted and are expressed in current dollars unless otherwise specified.
Preliminary data are provided for the current reference month. Revised data, based on late responses, are updated for the three previous months.
Non-durable goods industries include food, beverage and tobacco products, textile mills, textile product mills, clothing, leather and allied products, paper, printing and related support activities, petroleum and coal products, chemicals, and plastics and rubber products.
Durable goods industries include wood products, non-metallic mineral products, primary metals, fabricated metal products, machinery, computer and electronic products, electrical equipment, appliances and components, transportation equipment, furniture and related products and miscellaneous manufacturing.
Production-based industries
For the aerospace industry and shipbuilding industries, the value of production is used instead of sales of goods manufactured. This value is calculated by adjusting monthly sales of goods manufactured by the monthly change in inventories of goods in process and finished products manufactured.
Unfilled orders are a stock of orders that will contribute to future sales assuming that the orders are not cancelled.
New orders are those received whether sold in the current month or not. New orders are measured as the sum of sales for the current month plus the change in unfilled orders from the previous month to the current month.
Durable goods as well as food manufacturers behind gains
Food manufacturers reported the greatest increase in the value of sales, up 3.5% compared with February. This was the largest increase in food sales since January 2008. Prior to the increase in March, food sales had been relatively flat over the preceding six months.
Besides food manufacturing, most of the remaining sales increases for March were attributable to the durable goods industries. Motor vehicle manufacturers reported a 3.6% increase in March, the sixth advance in seven months. However, the gain in motor vehicle manufacturing was largely offset by a 9.6% decrease in aerospace products and parts production.
Other durable good sales increases included non-metallic mineral products (+7.7%) and wood product manufacturing (+4.9%). Non-metallic mineral sales, in particular cement and concrete manufacturers, benefited from warm weather in March. Wood product sales have grown steadily over the past six months.
Every province reports gains
Provincial gains were reported across the country in March, ranging from increases of 0.1% in Quebec to 45.0% in Newfoundland and Labrador.
Sales in the Atlantic provinces rose 6.4% in March after a 9.5% drop the previous month. Sales in the region have increased in five of the past six months.
Manufacturers in Manitoba reported a 4.9% increase in sales compared with February, the strongest gain outside of the Atlantic provinces. Manitoba has not seen the same degree of recovery in manufacturing as the other provinces, with sales increasing only twice in the past six months.
Sales were also strong in British Columbia, up 3.8%. Paper products, transportation, and food manufacturers were behind much of the gains. Manufacturing sales in British Columbia have been on the upswing since July 2009.
In Quebec, sales edged up 0.1% compared with February. A 10.6% drop in the transportation equipment industry was offset by strong gains in food, beverage and tobacco, and chemical product manufacturing. Sales in Ontario advanced 0.7%, reflecting rising sales in motor vehicle and motor vehicle parts manufacturing.
Inventory levels decline
Inventory levels fell 1.1% in March compared with February. Inventories dropped steadily from February to September 2009, with the rate of decrease slowing over the past six months.
The decline in March was largely driven by petroleum and coal and aerospace product manufacturers, down 7.3% and 3.3% respectively. Raw materials and finished products were both behind the decrease in petroleum and coal product inventories.
Chemical manufacturing was the main offsetting movement, up 1.4%. About half of the increase was due to resin, synthetic rubber, and artificial and synthetic fibers and filaments manufacturing.
Inventory levels decrease in March
The inventory-to-sales ratio fell from 1.35 in February to 1.32 in March. This was the lowest level since September 2008.
The inventory-to-sales ratio continues to decline
Unfilled orders fall for the first time in four months
The backlog of unfilled orders declined for the first time in four months, down 0.4% to $53.0 billion.
Unfilled orders in the transportation equipment industry fell 0.6%, despite a 0.5% advance in the aerospace industry. Excluding aerospace products and parts, unfilled orders were down 1.0% compared with February.
The other notable decrease in unfilled orders took place in computer and electronic products, down 2.7%.
Unfilled orders decline slightly after three monthly gains
New orders decreased 0.7% in March to $44.3 billion. New orders fell in three key industries, namely computers and electronics, transportation equipment, and machinery. Despite the decrease in March, new orders have been trending upward since June 2009.
SOURCE: Statistics Canada
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