From the Globe and Mail:
Shoppers Drug Mart Corp. is expanding its coveted high-end Estée Lauder Inc. cosmetics line, yet another blow to department stores that have depended on those sales to draw customers.
The move comes less than a month after Jurgen Schreiber, a former beauty and health retail executive in Europe, took over the chief executive officer job at Shoppers.
Mr. Schreiber "is having a positive impact on Shoppers Drug Mart's relationships with major prestige cosmetic brand owners," Keith Howlett, retail analyst at Desjardins Securities, wrote in a research note yesterday. ...more
Sunday, April 22, 2007
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