Business & Finance
One of the nation's top sellers of prescription drugs, CVS Corp., plans to open 300 more stores by the end of the year, company officials told The Providence (R.I.) Journal. But they said it's not clear yet how many new jobs that will mean. CVS, which is based in Woonsocket, R.I., is expanding operations in Arizona, Florida, Nevada, and Texas, and opening its first outlets in Minnesota. The chain currently operates more than 4,000 stores, the bulk of them along the Eastern seaboard, and employs roughly 100,000 people.
Pillowtex Corp., once the nation's third-largest maker of pillows, sheets, blankets, towels, and other textiles for the home, is awaiting a federal bankruptcy court's approval of a $128 million sale to liquidation specialist GGST LLC, with a decision expected Tuesday, reports said. GGST reaffirmed Friday that it has no intention of operating any of Pillowtex's 16 plants, but will try to find buyers to reopen them "when and where possible." Pillowtex, based in Kannapolis, N.C., employed 7,600 workers and made bed and bath products under the Field Crest, Cannon, Charisma, Royal Velvet names. Its bankruptcy filing in July was the second in less than three years.