Content about Ed Kelly

February 19, 2014

Safeway on Wednesday afternoon confirmed it is in discussions concerning a possible transaction involving the sale of the company.

PLEASANTON, Calif. — Safeway on Wednesday afternoon confirmed it is in discussions concerning a possible transaction involving the sale of the company. However, the company declined to comment further at this time. "Although the discussions are ongoing, the company has not reached an agreement on a transaction, and there can be no assurance that these discussions will lead to an agreement or a completed transaction," Safeway stated as part of its earnings release. 

February 18, 2014

Credit Suisse on Tuesday speculated that Safeway may be considering either a sale or acquisition.

NEW YORK — Credit Suisse on Tuesday speculated that Safeway may be considering either a sale or acquisition. 

January 29, 2014

Tough comparisons against a robust flu season last year and the continued lackluster economy may put a chill in pharmacy comps for the month of January, wrote Credit Suisse research analyst Ed Kelly.

NEW YORK — Tough comparisons against a robust flu season last year and the continued lackluster economy may put a chill in pharmacy comps for the month of January, wrote Credit Suisse research analyst Ed Kelly in a note published Wednesday. 

November 7, 2013

According to a Credit Suisse analysis of the drug channel published Wednesday, drug stores are in for a challenging winter across the front-end with an embattled consumer continuing to hold back and the continued proliferation of dollar stores that are attracting value-driven trips to their channel.

NEW YORK — According to a Credit Suisse analysis of the drug channel published Wednesday, drug stores are in for a challenging winter across the front-end with an embattled consumer continuing to hold back and the continued proliferation of dollar stores that are attracting value-driven trips to their channel. 

October 24, 2013

Safeway could fetch an asking price of more than $45 per share, estimated Credit Suisse in a research note issued Thursday.

NEW YORK — Safeway could fetch an asking price of more than $45 per share, estimated Credit Suisse in a research note issued Thursday. 

Shares of Safeway were up slightly by 15 cents to $35.73 in early morning trading.

Responding to a Reuters report on private equity firm Cerberus' interest in the supermarket chain, Credit Suisse research analyst Ed Kelly suggested that a Cerberus-Safeway deal would be compelling for the following reasons: 

October 11, 2013

Safeway on Thursday evening may have posted what analysts have described as disappointing earnings, but that's not stopping Wall Street from recognizing the value Safeway is unlocking with its exit from a pair of markets — Chicago and Canada.

PLEASANTON, Calif. — Safeway on Thursday evening may have posted what analysts have described as disappointing earnings, but that's not stopping Wall Street from recognizing the value Safeway is unlocking with its exit from a pair of markets — Chicago and Canada. After closing at $31.57 Thursday, Safeway's stock was selling at more than $2 higher early Friday afternoon, and at least one analyst has targeted $40 as the potential inherent in Safeway stock. 

July 22, 2013

Front-end drug store sales are weakening, Credit Suisse reported in a research note.

NEW YORK — Front-end drug store sales are weakening, Credit Suisse reported Monday morning in a research note. 

May 3, 2013

Walgreens on Friday posted April sales of $6 billion, an increase of 3.8% as compared to the same month in fiscal 2012.

DEERFIELD, Ill. — Walgreens on Friday posted April sales of $6 billion, an increase of 3.8% as compared to the same month in fiscal 2012. 

Total front-end sales decreased 2.9%, while comparable store front-end sales decreased 4.3%. Customer traffic in comparable stores decreased 5.9% while basket size increased 1.6%.

April 3, 2013

Walgreens reported March sales of $6.2 billion, an increase of 2.3%.

DEERFIELD, Ill. — Walgreens on Wednesday reported March sales of $6.2 billion, an increase of 2.3%. 

March 5, 2013

Walgreens' February sales fell short of analyst projections due to a sharper impact from generic drug introductions.

DEERFIELD, Ill. — Walgreens' February sales fell short of analyst projections due to a sharper impact from generic drug introductions. Walgreens on Tuesday reported sales in total comparable stores decreased by 0.6% in February. Generic drug introductions negatively impacted total pharmacy comparable sales, which were flat, by 600 basis points, Walgreens reported.

January 9, 2013

The rocketing incidence of flu has been characterized as the most severe in at least a decade, and it's only going to get worse. Or better, depending upon your perspective.

NEW YORK — The rocketing incidence of flu has been characterized as the most severe in at least a decade, and it's only going to get worse. Or better, depending upon your perspective. 

December 7, 2012

Walgreens last Wednesday reported November sales of $5.9 billion, a decrease of 3.9% versus the same period last year.

DEERFIELD, Ill. — Walgreens last Wednesday reported November sales of $5.9 billion, a decrease of 3.9% versus the same period last year. However, the company also noted it had enrolled 38 million customers for its new loyalty card program, which debuted in September. 

December 5, 2012

Walgreens reported November sales of $5.9 billion, a decrease of 3.9% versus the same period last year.

DEERFIELD, Ill. — Walgreens Wednesday morning reported November sales of $5.9 billion, a decrease of 3.9% versus the same period last year. Total front-end sales decreased 0.3% compared with the same month in fiscal 2012, while comparable store front-end sales were down 1.7%. Customer traffic in comparable stores was down 4.9% while basket size increased 3.2%.

However, registrations for Walgreens Balance Rewards loyalty program, which launched in September, totaled more than 38 million through November, denoting a strong start for the program. 

November 29, 2012

Kroger remained one of the few outperforming supermarket operators Thursday morning as the grocer exceeded analyst consensus adjusted earnings per diluted share by 3 cents with 46 cents per share.

CINCINNATI — Kroger remained one of the few outperforming supermarket operators Thursday morning as the grocer exceeded analyst consensus adjusted earnings per diluted share by 3 cents with 46 cents per share. Actual reported net earnings were even higher — 60 cents per share — as Kroger benefitted from a settlement with Visa and MasterCard and from a reduction in the company's obligation to fund the UFCW consolidated pension fund created in January. 

Kroger shares were up 3.4% to $25.90 in late morning trading. 

October 31, 2012

Hurricane Sandy may have shut down lower Manhattan for a few days, but research analyst Ed Kelly of Credit Suisse was bullish on how the storm system may have whipped up front-end sales for pharmacy operators.

NEW YORK — Hurricane Sandy may have shut down lower Manhattan for a few days, but research analyst Ed Kelly of Credit Suisse was bullish on how the storm system may have whipped up front-end sales for pharmacy operators. 

September 28, 2012

Fiscal 2012 is now in Walgreens' rearview mirror as the company looks ahead toward 2013 with its foot on the accelerator

 DEERFIELD, Ill. — Fiscal 2012 now is in Walgreens' rearview mirror as the company looks ahead toward 2013 with its foot on the accelerator. A re-entry into the Express Scripts pharmacy provider network, a new loyalty card and synergies borne out of the Alliance Boots partnership will all help fuel Walgreens' health-and-wellness engine. 

Walgreens stock was up slightly within the half-hour of the call to approximately $36.70 per share. WAG had closed Thursday at $36.52 and opened Friday morning at $36.27. 

July 30, 2012

Supervalu on Monday named Wayne Sales, a Canadian hall-of-fame-caliber retailer, as the company's president and CEO, replacing Craig Herkert.

MINNEAPOLIS — Supervalu on Monday named Wayne Sales, a Canadian hall-of-fame-caliber retailer, as the company's president and CEO, replacing Craig Herkert.

“In my new role, I will work closely with our leadership team to improve our sales and earnings trajectory and generate long-term shareholder value, focusing relentlessly on identifying factors that will drive meaningful improvements in our strategy execution and overall performance,” Sales stated.

July 12, 2012

Supervalu on Thursday announced a number of dramatic measures to stabilize its business — reduction in capital spending, suspension of the company's dividend, even the exploration of possible strategic alternatives — in conjunction with its declining first-quarter earnings results.

MINNEAPOLIS — Supervalu on Thursday announced a number of dramatic measures to stabilize its business — reduction in capital spending, suspension of the company's dividend, even the exploration of possible strategic alternatives — in conjunction with its declining first-quarter earnings results.

April 13, 2012

Trading of Safeway shares on Nasdaq were up almost 75 cents in late morning trading on speculation that Safeway soon may be up for sale.

NEW YORK — Trading of Safeway shares on Nasdaq were up almost 75 cents in late morning trading on speculation that Safeway soon may be up for sale.

The speculation is borne out of a recent revision in the company’s change in control that would make retention of management easier and cheaper in a take-out, suggested Ed Kelly, Credit Suisse analyst, in a note published Friday morning. "While this is an interesting development, we do not believe it signals that Safeway is suddenly up for sale."

February 3, 2012

The impact of the failed Express Scripts negotiations on Walgreens' sales has been significant to date, as evidenced by Walgreens' January sales release issued Friday.

DEERFIELD, Ill. — The impact of the failed Express Scripts negotiations on Walgreens' sales has been significant to date, as evidenced by Walgreens' January sales release issued Friday.

Walgreens reported a sales decline of 2.3% for the month of January to $5.8 billion — the first month operating outside of the Express Scripts pharmacy network. A flu season that has yet to materialize also has had a significant impact on comparable sales figures.

Sales in comparable stores were down 4.6%, falling below analyst consensus of down 2.6%.

January 5, 2012

Walgreens on Thursday reported an approximate 150 basis-point negative impact on prescriptions filled based on prescription transfers, and other trend analysis of prescriptions managed by Express Scripts, as the chain posted its first monthly earnings statement following the discontinuation of Walgreens' relationship with Express Scripts.

DEERFIELD, Ill. — Walgreens on Thursday reported an approximate 150 basis-point negative impact on prescriptions filled based on prescription transfers, and other trend analysis of prescriptions managed by Express Scripts, as the chain posted its first monthly earnings statement following the discontinuation of Walgreens' relationship with Express Scripts. That represents an increase from a 110 basis-point impact in November, but falls short of the 200 basis-point impact projected by Credit Suisse research analyst Ed Kelly earlier this week.

January 3, 2012

Retailers will report weak December front-end sales growth across the drug channel as continued inflation likely was offset by the slow start to the flu season and disappointing overall traffic and volume growth, Credit Suisse research analyst Ed Kelly suggested in a note published Tuesday.

NEW YORK — Retailers will report weak December front-end sales growth across the drug channel as continued inflation likely was offset by the slow start to the flu season and disappointing overall traffic and volume growth, Credit Suisse research analyst Ed Kelly suggested in a note published Tuesday.

"While drug stores have been fairly successful passing through product cost inflation at the shelf, our Nielsen Trend Tracker shows that volumes have decelerated in recent months given the weak consumer and normal price elasticity," he wrote.

September 9, 2011

Trips are up, but baskets are down, Kroger reported Friday morning, along with positive second-quarter results. Gas sales also are up with the decline in fuel prices, which is an item Kroger continues to use as a stickiness factor with its loyalty card program.

CINCINNATI — Trips are up, but baskets are down, Kroger reported Friday morning, along with positive second-quarter results. Gas sales also are up with the decline in fuel prices, which is an item Kroger continues to use as a stickiness factor with its loyalty card program.

August 3, 2011

Walgreens on Wednesday reported July sales of $5.82 billion, an increase of 4.7%.

DEERFIELD, Ill. — Walgreens on Wednesday reported July sales of $5.82 billion, an increase of 4.7%.

July 26, 2011

Financial services firm Credit Suisse tabulated total basket increases of 2.7% year over year and 1% month over month for retail.

NEW YORK — Financial services firm Credit Suisse tabulated total basket increases of 2.7% year over year and 1% month over month for retail.

“Our monthly pricing survey in Dallas and Chicago showed that all retailers raised prices on a year-over-year and month-over-month basis with the exception of Jewel [a Supervalu banner operating in Chicago],” Credit Suisse research analyst Ed Kelly wrote in a note published Monday.