Publix to take over Moffitt pharmacy
Publix has signed a deal to take over the retail pharmacy at H. Lee Moffitt Cancer in Tampa on July 2, marking the first time the Lakeland grocer has opened a pharmacy not connected to one of its 1,016 supermarkets. While it's common for drugstore chains like Walgreens to set up shop inside hospitals, Publix said it's a one-time event for now. "It will help us fill immediate needs and build long-term relationships with our customers as they return home," said Fred Ottolino, Publix pharmacy vice president. Publix won the bid to buy the customer list and pay rent for the busy 2,800-square-foot pharmacy that has been filling more than 200 prescriptions a day.
2011 sales for Publix rise to $27 billion, up 7%
The price of Publix Super Markets privately traded stock jumped $2.20 a share to $22.40 as of today, according to SEC filings. Appraised on a formula reflecting the Lakeland grocery chain's performance and the stock prices of similar companies, the increase comes after a year in which the employee-owned retailer's sales and store count hit new highs. For the full year, Publix sales rose 7 percent to $27 billion, up from $25.1 billion in 2010. Net income was $1.5 billion, or $1.90 a share, compared with $1.3 billion, or $1.70 a share. Publix attributed the sales increase to more customers, price inflation and a fiscal year in which reporting covered 53 weekends compared to 52 in 2010. Sales in stores open more than a year rose 4 percent.
Trump buys Doral Golf Resort for $150 million
Donald Trump has acquired the fabled but faded Doral Golf Resort & Spa in Miami-Dade County for $150 million with plans to pour another $150 million into an overhaul of the 50-year-old property. The makeover of the 700-room resort and four of its golf courses includes a redesign of the ominously named Blue Monster of PGA Tour golf fame. Trump, who will take over management from Marriott International, picked up the resort in bankruptcy court. That's where hedge fund company Paulson & Co. parked the Doral after seizing five resorts around the country. The Doral sold in 2007 for $501 million.