Expired Products Cost Retailers Big
expired products on store shelves a manageable issue for retailers or
a time bomb waiting to severely affect the ability of stores
to attract and keep shoppers? Recent settlements involving CVS, Rite
Aid and Target with New Jersey and New York raises the question
as the chains, that have admitted no wrongdoing,
write checks for hundreds of thousands of dollars to the states.
New Jersey this week, Target agreed to pay $375,000 to settle charges
that it sold expired baby formula and non-prescription medicines to guests
at its stores.
to a statement released by New Jersey’s Attorney General’s office, Target agreed
not to sell product beyond its expiration date and “check the expiration dates
before displaying such merchandise for sale, to conduct weekly checks of the
expiration dates of the merchandise offered for sale and to arrange for the
destruction or return to the manufacturer or supplier of any expired merchandise
removed from the store shelves.”
Jersey previously settled similar cases against Rite Aid ($475,000) and Duane
Reade ($200,000). The state has cases pending against Wal-Mart and Drug Fair.
this week, CVS agreed to pay New York $875,000 over the sale of expired
goods including baby formula, food and over-the-counter remedies. According
to New York Attorney General Andrew Cuomo, investigators for the state
bought expired products in 60 percent of the stores they visited including
some items that were two years past date.
Yorkers should not have to worry that their neighborhood pharmacy is selling
expired over-the-counter drugs that may be harmful to themselves or their families,"
said Mr. Cuomo in a statement. "Today’s settlement with CVS and our past settlement
with Rite Aid – which total approximately two million dollars – send the message
that companies have a responsibility to put the safety of their customers ahead
of boosting their profits."
Questions: How big a problem for retailers are expired products on store
shelves? Why does the problem exist and what is the fix?
- New Jersey Settles
Suit Against Target Corporation – The State of New Jersey, Office
of the Attorney General
General Cuomo Reaches $875,000 Settlement With CVS Over The Sale Of Expired Products
Across New York State – Office of the New York Attorney General