Business Digest

REGION

GM Lordstown revises schedule

LORDSTOWN

The General Motors Lords-town complex has revised its production schedule. The complex will be down next week, with production resuming March 15. Previously, next week was scheduled as a production week, and March 15 was to be a down week.

GM said the change was made to support a supplier, adjust production of Chevrolet Cobalts to demand and continue training for production of the Chevrolet Cruze.

NATION

Generic for Plavix expected in 2012

TRENTON, N.J.

Executives at Bristol- Myers Squibb Co. told analysts Thursday at a business briefing that the drug maker has 60 potential drugs in development, seven in late-stage studies, and plenty of money for dealmaking.

The company said it expects future revenue from many of those medicines and growing sales from existing drugs to help offset an expected plunge in Plavix sales in 2012. That’s when U.S. generic competition will start slashing sales of the $6 billion-a-year blood thinner, the world’s second-best-selling drug.

Arby’s to introduce dollar menu

CHICAGO

Fast-food chain Wendy’s/Arby’s Group Inc. is planning a massive effort to revitalize its flagging Arby’s brand, rolling out a dollar menu nationwide next month and pouring millions into revamping restaurants.

The news comes after an important sales measure skidded 11 percent at the restaurant chain known for its roast beef sandwiches and curly fries. Revenue fell almost 7 percent as customers continued to skip its typically more expensive menu.

After failing to gain traction with its $5 meal deals, Arby’s began testing its dollar menu last year. It plans to expand that menu to at all of its 3,700 locations in April.

Target: February sales rose 2.4%

MINNEAPOLIS

Target Corp. said Thursday that February sales in stores open at least one year rose 2.4 percent as more customers came into stores and spent more money than a year ago.

Results beat Target’s expectations of a flat to slight rise in the sales figure. Analysts had expected a 1 percent increase. The discount chain said food and household essentials remained the biggest sellers.

Housing demand declined in January

WASHINGTON

The number of buyers who agreed to purchase a home fell sharply in January, a sign that demand for housing is sinking this winter as stormy weather slammed Eastern states.

Partly as a result of snowstorms, an index that tracks sales agreements fell 7.6 percent from December to a seasonally adjusted January reading of 90.4, the National Association of Realtors said Thursday. It was the lowest reading since last April and a disappointment to economists, who had expected it would rise to 97.6.

Vindicator staff and wire reports