20 August 2020 - Deborah Wilkes
The Vitamin Shoppe has launched CBD HQ and appointed a new chief financial officer, McKesson has released financial results and announced a people change at Lloydspharmacy, and Phoenix has announced a promotion.
Vitamin Shoppe launches CBD HQ
The Vitamin Shoppe has launched an in-store and online concept called CBD HQ, which it describes as an industry-leading destination for cannabidiol (CBD) wellness solutions.
The US-based specialty retailer said CBD HQ offered “over 20 trusted brands” including Garden of Life, Charlotte’s Web, Irwin Naturals, Uncle Bud’s and SoulSpring.
The range of products available encompasses ingestible CBD hemp extract formulations in liquid tinctures, capsules, gummies and beverages, as well as topical CBD products and beauty formulations.
The retailer said CBD HQ was available in 572 Vitamin Shoppe and Super Supplements stores. A further 150 stores offer an assortment of topical and beauty CBD products.
Sharon Leite, Vitamin Shoppe’s chief executive officer, pointed out that the company had been “the first national retailer to offer a broad selection of ingestible CBD products”. It started selling CBD products in April 2019.
Leite said CBD HQ was the next evolution of Vitamin Shoppe’s commitment to this “thriving, innovative wellness category”. She added that the retailer was seeing “robust interest” in CBD from its customers, driven by “strong word-of-mouth, personal testimonials and self-directed consumer research”.
Vitamin Shoppe appoints finance chief
The Vitamin Shoppe has appointed Laura Coffey as executive vice president and chief financial officer.
Coffey spent more than two decades with furniture retailer Pier 1, most recently as executive vice president for e-commerce and business strategy.
She reports to Vitamin Shoppe’s chief executive officer Sharon Leite.
McKesson reports unchanged sales
McKesson reported worldwide sales unchanged at USD55.7 billion in the three months ended 30 June 2020.
The US-based drug distributor said sales by its European Pharmaceutical Solutions Segment, which houses the Lloydspharmacy chain, had fallen by 4% on a currency-adjusted basis. Sales as reported were USD6.25 billion, representing a rise of 7% compared to the same period a year earlier.
McKesson said the fall had been driven primarily by the negative impact of the COVID-19 pandemic on the pharmaceutical distribution and retail pharmacy businesses. The UK had been hit harder than its other European operations, added the company, noting that it was evaluating its footprint in the UK.
Adjusted operating profit reported by the segment was up by 3% to USD35 million on a currency-adjusted basis, giving an adjusted operating margin of 0.56%.
Giving guidance for the financial year ending 31 March 2021, McKesson said it expected to achieve sales growth at the high end of between 2% and 4%. Sales at the European Pharmaceutical Solutions Segment are expected to be in a range from a 3% decline to 1% growth.
McKesson said it was “not assuming that a second wave of COVID-19 returns, leading to shelter-at-home scenarios precluding patient consumption of healthcare services, supplies and pharmaceutical products”.
The company added that it was “not assuming any systemic customer insolvency events”.
McKesson is assuming that unemployment peaked in the three months ended 30 June 2020 and gradually begins to improve across the remaining quarters of the financial year.
McKesson announces retirement of Howard
Steve Howard – superintendent pharmacist for Lloydspharmacy and clinical standards director for McKesson UK – is retiring on 31 December 2020.
Howard has been with Lloydspharmacy for 35 years.
Phoenix promotes Steve Anderson
Germany’s Phoenix has announced that Steve Anderson – managing director of Phoenix UK – is joining its executive board as the member responsible for operations and logistics.
Anderson will replace Frank Große-Natrop who is retiring from the executive board of the wholesaler and retailer on 1 September 2020.
He will retain his role as managing director of Phoenix UK.
Anderson joined Phoenix UK’s board in October 2016 and became managing director in 2017. He had previously worked for Celesio, now known as McKesson Europe, as chief operating officer and executive director for operations and pharma services.