Former Sprint executive ventures into retail with Pisadas de Barcelona
December 21, 2020
Former long-time Sprint executive Yolanda “Yoly” Torres-Cuesta has shifted from telecommunications to retail, with the recent opening of Pisadas de Barcelona, a $35,000 venture into sustainable footwear. The virtual concept features footwear from the Mumka Shoes line for women and children, as well as bags and backpacks. In January 2020, Torres-Cuesta decided to leave the […]
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Puerto Rican menswear retailer Clubman launches online store
December 18, 2020
Puerto Rican men’s clothing retailer Clubman unveiled its new hybrid concept that includes a virtual store and a new pick-up service at its flagship store in Santurce. The online store, which entailed a $25,000 investment to set up, features all of Clubman’s collections, from casual to formal. Shoppers can choose to pick-up their purchases at […]
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PepsiCo Puerto Rico exploring exporting locally-made products to So. Florida market
December 16, 2020
PepsiCo, which has been manufacturing popular snacks — Doritos, Tostitos and Cheetos — out of its Barceloneta plant since 1982, is evaluating expanding its reach into South Florida, by exporting its “Mofongo Mix” product line into a market with a solid Puerto Rican presence. In an interview with this media outlet, company General Manager Alejandro […]
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T-Mobile Puerto Rico rolls out Project 10Million to bridge digital learning gap
December 15, 2020
Wireless carrier T-Mobile Puerto Rico announced the launch of Project 10Million in Puerto Rico, an unprecedented initiative aimed at delivering internet connectivity to thousands of public school students on the island at no cost to them. With a companywide commitment of $10.7 billion, Project 10Million will address the island’s growing need for internet access for […]
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Abexus: Puerto Rico’s dependency on federal funds will linger in ’21
December 15, 2020
The year 2021 will be characterized by a strong dependency of federal funds across a number of industries, as the effects of the blow the COVID-19 pandemic dealt to Puerto Rico’s economy, local firm Abexus Analytics concluded in a study. “This next year will be characterized by a strong dependency of federal funds, not just […]
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Costco still holding out on offering online grocery sales, store pick-up option
December 14, 2020
While most retailers have jumped on the trend of offering customers the ability to buy groceries online and picking them up curbside or in-store, big box retailer Costco Wholesale is still not considering adding that option just yet. During a conference call to discuss its quarterly results, Richard Galanti, executive vice president and CFO for […]
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Viatris to shutter its Mylan manufacturing plant in Caguas
December 14, 2020
Viatris Inc. — the new company product of the merger between Mylan and Pfizer’s Upjohn manufacturing operations — announced the closure of its plant in Caguas that will happen in phases through December 2022. Some 600 employees will be affected by the corporate decision to eliminate the solid dose manufacturing facility that still carries the Mylan […]
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Survey: Puerto Rico gov’t needs to work closer with banking sector to boost growth
December 11, 2020
Puerto Rico’s banking sector, which is likely the most impactful sector of the economy, could use greater collaboration from the government to boost individual and commercial services, while reducing expenses for the public sector. Furthermore, the government could also move quicker toward stimulating the use of local banks to manage its liquidity and urge the […]
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Study: Puerto Rico housing market was improving, then COVID-19 hit
December 11, 2020
Puerto Rico’s housing market was improving prior to the COVID-19 pandemic, as reflected by price trends and sales in 2019, which were upward-bound due to a lack of available inventory. However, in general, prices have not recovered to pre-2007 levels and COVID-19 may slowdown the recovery process. Those were some of the conclusions of the […]
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OBoard: Puerto Rico gov’t lacks right mix of people to deliver services
December 10, 2020
The government of Puerto Rico “does not have the right mix of people to respond capably to new challenges of delivering effective, efficient public services with limited resources, and in an environment of technological transformation and increasing public expectations,” according to research by the Financial Oversight and Management Board for Puerto Rico’s Research and Policy […]
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Puerto Rico has to ‘resize economy’ on a small scale, plan for reduced population
December 8, 2020
Faced with the reality of an economy that has been reduced by 25% since 2006 and a population in continuous decline, Economist José Joaquín Villamil, from the Estudios Técnicos, Inc. firm, warned that the island’s risk profile “is very pronounced,” and urged planning for markets for the elderly, as well as taking advantage of new […]
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Puerto Rico National Guard allocates $557K for COVID-19 vaccine storage freezers
December 7, 2020
As Puerto Rico government and health officials prepare to receive the first shipments of the COVID-19 vaccine, the Puerto Rico National Guard is also gearing up to assist in the effort to store the meds and in the logistics behind the immunization process. In anticipation of the vaccine’s arrival, earlier this year the PRNG received […]
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Walgreens rolls out curbside pickup service in 106 stores across Puerto Rico
December 4, 2020
As part of the reinvention of its customer loyalty program, Walgreens recently rolled out a fully-redesigned mobile app through which Puerto Rico customers can now buy and pick up their purchases at the store, curbside, or at the drive-thru window in as little as 30 minutes. Curbside pick-up at Walgreens is new to Puerto Rico, […]
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Retailers: A partial lockdown would be ‘catastrophic’ for economy
December 3, 2020
Reactions from representatives of Puerto Rico’s retail sector were quickly offered Wednesday in response to the possibility of a partial lockdown to fight the raging spread of the COVID-19 virus. In a nutshell, they agreed cutting back hours would be “catastrophic” for the island’s economy. In separate statements, the Puerto Rican Association of Shopping Centers, […]
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Corporate Ladder: Top executives named across sectors of Puerto Rico’s economy
December 3, 2020
This edition of Climbing the Corporate Ladder — this media outlet’s section dedicated to featuring executive appointments in Puerto Rico — highlights newcomers named to lead businesses across multiple economic sectors. Amgen names 1st Puerto Rican woman VP of operationsAmgen Manufacturing Limited (AML) appointed industrial engineer Brenda Torres-Rivera as the new vice president of operations of the […]
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