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WESTBOROUGH, Mass. — Strong performances in key categories and higher gas profitability helped BJ’s Wholesale Club exceed its earnings guidance for the second quarter.

The company reported net income for the period ended July 30 of $45.7 million, or 84 cents per diluted share. The company's guidance called for net income in the range of $40.5 to $42.5 million and earnings in the range of 74 cents to 78 cents per diluted share. For second quarter 2010, BJ's reported net income of $35.8 million, or 67 cents per diluted share.

PHILADELPHIA — GlaxoSmithKline expects to close the deal on the divestiture of several over-the-counter brands that were identified in April, the company stated Tuesday as part of its second-quarter earnings results.

"The divestment of noncore OTC assets in the [United States] and Europe will further aid our strategy to accelerate growth and increase the focus of our Consumer Healthcare business," GSK stated. "We are making progress to divest these products by late 2011, subject to realizing appropriate value for shareholders."

MEMPHIS, Tenn. — Fred's on Thursday reported sales of $179 million for the five weeks ended July 2, representing a relatively flat 0.1% increase, compared with the year-ago period.

Comparable-store sales for the month dropped 0.7%, compared with an increase of 1.7% in the same period last year.

NEW YORK — Target plans to spend more than it had forecast this year on its entry into the Canadian market as it nails down more of the best retail locations sooner than expected.

The retailer said it will be able to “clarify” within weeks the number and locations of the first 100 to 150 stores it will open in Canada.

“We expect to close on higher value lease transactions sooner than expected,” Target CFO Doug Scovanner told analysts on a conference call Wednesday.

PLEASANTON, Calif. — Net income for Safeway dropped due to a tax charge and the retailer's decision to repatriate $1.1 billion from its wholly owned Canadian subsidiary, although the company noted revenue rose nearly 5%.

Net income for the first quarter ended March 26 dropped to $25.1 million, or 7 cents per diluted share, compared with $96 million, or 25 cents per diluted share, in first quarter 2010. Excluding the tax charge, Safeway said first-quarter net income was $105.3 million, or 29 cents per diluted share.

NEW YORK — Target expects sales from its upcoming Canadian stores to total more than $6 billion by 2017, Dow Jones reported.

Speaking to Wall Street analysts, CFO Douglas Scovanner said Tuesday that Target expects to have more than 200 stores in Canada within the next five to 10 years, with the stores generating about $6 billion Canadian ($6.27 billion in U.S. dollars based on Tuesday’s exchange rate).

Target’s initial group of stores will open through the chain’s purchase in January of up to 220 leases held by Hudson's Bay Co.'s Zellers stores.

WHAT IT MEANS AND WHY IT’S IMPORTANT — Expectations of improved profitability at Dollar General mean the company will keep the pedal to the metal in terms of expansion.

(THE NEWS: Dollar General keeps growing. For the full story, click here)

The 2011 NACDS Marketplace Conference will take place in Boston, June 25 to 28. More than 230 retail companies — representing more than $500 billion in annual buying power — and more than 90% of the consumer packaged goods industry is expected to attend. To learn more, Drug Store News talked with NACDS SVP member programs and services Jim Whitman and NACDS director of conference exhibits and registration Roy McGrath.

DSN: Why is Marketplace more important than ever? What’s new this year?

WASHINGTON — Consumers can expect to find less packaging with their food and beverages in the coming years as manufacturers look to eliminate waste.

The Grocery Manufacturers Association found that by 2020, 2.5 billion lbs. of waste is expected to be avoided. This is on top of the 1.5 billion lbs. of packaging avoided since 2005.

NEW YORK — Rising gas prices will prompt consumers to be more mindful of their spending habits, according to Nielsen projections.

In the United States, Nielsen noted, households could be paying an extra $52.50 with a 50-cent increase in gas prices, $105 with a $1 increase and $210 if prices jump up $2, prompting consumers to tighten their wallets. This will mirror historic trends, which include increased trip compression, more value-conscious shopping alternatives and increased use of coupons, Nielsen said.

NEW YORK — You can expect to see quite a bit of co-promotional activity between PediaCare and Little Remedies in the 2011-2012 cough-cold season, Prestige Brands president and CEO Matthew Mannelly told investors Wednesday morning at the Bank of America Merrill Lynch 2011 Consumer Conference held here.