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May 22, 2013
Elan buys Austrian drug maker, stake in Dubai drug maker

Irish drug maker Elan is paying about $380 million to buy two drug makers, the company said.

DUBLIN — Irish drug maker Elan Corp. is paying about $380 million to buy one drug maker and a large stake in another, the company said.

Elan announced plans to buy Vienna-based AOP Orphan Pharmaceuticals for about $340 million, a company that specializes in drugs for rare conditions in a variety of areas, including cancer, neurology and metabolic disorders. Elan also paid an initial $40 million to buy a 48% stake in Newbridge Pharmaceuticals, based in Dubai, United Arab Emirates. Elan will have the option to buy the rest of the company for $244 million by 2015.

May 22, 2013
Target profits decline in first quarter, but company sees strong omnichannel sales growth

Colder weather and more conservative shoppers contributed to a drop in Target Corp.'s first quarter 2013 profits, but the company's underlying business remains healthy, executives said Wednesday morning in a conference call with investors.

MINNEAPOLIS — Colder weather and more conservative shoppers contributed to a drop in Target Corp.'s first-quarter 2013 profits, but the company's underlying business remains healthy, executives said Wednesday morning in a conference call with investors.

"While we are not satisfied with this quarter's performance, we remain highly confident in our strategy," president, chairman and CEO Gregg Steinhafel said during the call.

May 21, 2013
Fred's declares quarterly cash dividend

Fred's announced that its board of directors has declared a quarterly cash dividend of $0.06 per share.

MEMPHIS, Tenn. — Fred's Inc. today announced that its board of directors has declared a quarterly cash dividend of $0.06 per share.

The dividend is payable on June 17, 2013, to shareholders of record as of June 3, 2013.

Fred's Inc. operates 715 discount general merchandise stores, including 21 franchised Fred's stores, in the southeastern United States. For more information about the company, visit Fred's website at www.fredsinc.com.

May 20, 2013
Actavis, Warner Chilcott reach acquisition deal

Actavis will acquire Warner Chilcott for $8.5 billion, the drug maker said.

PARSIPPANY, N.J. — Actavis will acquire Warner Chilcott for $8.5 billion, the drug maker said Monday.

May 20, 2013
Dollar General Literacy Foundation awards more than $6M to literacy groups across U.S.

The Dollar General Literacy Foundation announced today awards of more than $6 million in grants to more than 725 schools, nonprofits and literacy organizations to support adult, family and summer literacy programs.

GOODLETTSVILLE, Tenn. — The Dollar General Literacy Foundation announced today awards of more than $6 million in grants to more than 725 schools, nonprofits and literacy organizations to support adult, family and summer literacy programs.

May 17, 2013
Supervalu refinances $1.5 billion senior secured term loan agreement

Supervalu successfully completed the refinancing of its existing $1.5 billion senior secured term loan agreement.

MINNEAPOLIS — Supervalu on Thursday successfully completed the refinancing of its existing $1.5 billion senior secured term loan agreement. The amendment reduces the interest rate margin from 5% to 4% and reduces the LIBOR floor from 1.25% to 1% for LIBOR based loans. 

May 17, 2013
Walgreens and Alliance Boots strategic partnership with AmerisourceBergen clears any regulatory hurdle

The deal that paired Walgreens and Alliance Boots with wholesaler AmerisourceBergen has received the required regulatory clearances, the companies announced Friday.

DEERFIELD, Ill. — The deal that paired Walgreens and Alliance Boots with wholesaler AmerisourceBergen has received the required regulatory clearances, the companies announced Friday. 

The regulatory clearances permit both Walgreens and Alliance Boots the purchase of up to 7% of the fully diluted equity of AmerisourceBergen in the open market, and the exercise of two warrants for 16% in the aggregate of the fully diluted equity of AmerisourceBergen in 2016 and 2017. 

May 16, 2013
Tardy tax refunds, cool weather impact Walmart’s Q1

Walmart Stores reported profit and sales lower than Wall Street expectations as the retail giant struggled against the payroll tax increase, delayed tax returns and an unseasonably cold spring impacting its U.S. sales.

Bentonville, Ark. — Walmart Stores on Thursday reported profit and sales lower than Wall Street expectations as the retail giant struggled against the payroll tax increase, delayed tax returns and an unseasonably cold spring impacting its U.S. sales. The retailer also scaled back its earnings expectations for the current three-month period.

Walmart’s net income rose 1.1% to $3.8 billion. Revenue edged up 1%, to $113.4 billion.

May 15, 2013
Double-digit profit gains for Alliance Boots

Alliance Boots on Wednesday reported a double-digit profit gain for its year ended March 31.

BERN, Switzerland — Alliance Boots on Wednesday reported a double-digit profit gain for its year ended March 31. Underlying profit after tax was up 12.7% to $1.2 billion, though revenue was down slightly by 2.6% to $34.2 billion. 

May 14, 2013
Actavis issues regulatory filing to comply with Irish company-takeover rules

Actavis is continuing to pursue a plan to buy Irish drug maker Warner Chilcott, as the U.S.-based company announced Tuesday its total number of shares and share-purchase options in order to comply with Ireland's merger-and-acquisition rules.

PARSIPPANY, N.J. — Actavis is continuing to pursue a plan to buy Irish drug maker Warner Chilcott, as the U.S.-based company announced Tuesday its total number of shares and share-purchase options in order to comply with Ireland's merger-and-acquisition rules.

Actavis listed about 133.3 million ordinary shares, 1.5 billion restricted shares and 1.26 options to purchase ordinary shares.

May 14, 2013
Safeway increases quarterly dividend by 14%

Safeway announced that its board of directors approved an increase to its regular quarterly cash dividend from $0.175 per share to $0.20 per share, reflecting a 14% increase.

PLEASANTON, Calif. — Safeway on Tuesday announced that its board of directors approved an increase to its regular quarterly cash dividend from $0.175 per share to $0.20 per share, reflecting a 14% increase. 

The board also declared a cash dividend of $0.20 per share payable on July 11, 2013 to stockholders of record at the close of business on June 20, 2013.

May 14, 2013
ShopSmart study eyes store brands as way to save on beauty products

According to a recent poll that will appear in the June 2013 issue of ShopSmart, 56% of women do not take advantage of coupons and discount codes when it comes to purchasing makeup, skin care items and other beauty products.

YONKERS, N.Y. — According to a recent poll that will appear in the June 2013 issue of ShopSmart, 56% of women do not take advantage of coupons and discount codes when it comes to purchasing makeup, skin care items and other beauty products.

"There's no reason to overpay or to miss a potential deal when buying beauty items," said Lisa Lee Feeman , editor-in-chief of ShopSmart. "Also consider store-brand beauty products — if you like them, the savings can be worthwhile in the long run."

May 13, 2013
AmerisourceBergen closes divestiture of contract packaging business AndersonBrecon

AmerisourceBergen announced that it has completed the previously announced divestiture of its contract packaging business, AndersonBrecon, to an entity formed by affiliates of an investor group led by Frazier Healthcare VI.

VALLEY FORGE, Pa. — AmerisourceBergen on Monday announced that it has completed the previously announced divestiture of its contract packaging business, AndersonBrecon, to an entity formed by affiliates of an investor group led by Frazier Healthcare VI.  

The purchase price for the transaction totaled $308 million in cash, subject to customary adjustments for, among other things, the working capital of the business. The investor group includes affiliates of Greenspring Associates, QIC Global Private Equity and Thomas McNerney & Partners.

May 13, 2013
Commerce Dept.: Health, personal care store sales up year-over-year, year-to-date sales down slightly over 2012

Seasonally adjusted retail sales increased by 0.6% in April over last year, while unadjusted retail sales increased 3.9%, according to numbers released Monday by the Department of Commerce.

WASHINGTON — Seasonally adjusted retail sales increased by 0.6% in April over last year, while unadjusted retail sales increased 3.9%, according to numbers released Monday by the Department of Commerce.

The figures, which exclude cars, gas stations and restaurants, showed that retail sales for the month increased 0.1%.

May 10, 2013
Alliance Boots distributes equity interest in Galenica

Alliance Boots on Friday announced that it has distributed its equity interest in Galenica, its Swiss associate, to the group’s ultimate parent company, AB Acquisitions Holdings, in accordance with the terms of the agreement with Walgreens reached last year.

BERN, Switzerland — Alliance Boots on Friday announced that it has distributed its equity interest in Galenica, its Swiss associate, to the group’s ultimate parent company, AB Acquisitions Holdings, in accordance with the terms of the agreement with Walgreens reached last year.

Galenica continues as an associate of AB Acquisitions Holdings. Stefano Pessina, executive chairman of Alliance Boots, continues as non-executive director of Galenica while Etienne Jornod, executive chairman of Galenica, stays as a non-executive director of Alliance Boots.

May 10, 2013
Actavis in talks to combine with Warner Chilcott

Actavis is looking into the possibility of buying Warner Chilcott, the generic drug maker said.

PARSIPPANY, N.J. — Actavis is looking into the possibility of buying Warner Chilcott, the generic drug maker said Friday.

Actavis, the world's third-largest generic drug maker, said it had entered into early-stage discussions with Warner Chilcott about a potential combination of the two, but that no agreement had been reached, and that it wouldn't issue further comment about the matter.

May 9, 2013
Costco comps increase 4% in April

Costco sales grew 7% in April over April 2012, the club retailer said.

ISSAQUAH, Wash. — Costco Wholesale Corp.'s sales grew 7% in April over April 2012, the club retailer said Thursday.

Costco reported sales of $7.98 billion for the four weeks that ended Sunday, compared with $7.48 billion during the same period last year. Sales for the 35-week period that ended Sunday were $69 billion, 9% higher than the $63.59 billion recorded last year.

Sales in the United States at continuously open stores since last April increased by 4%, while same-store sales for the 35 weeks that ended Sunday increased 6%.

May 8, 2013
Fred's posts solid April results but flat for Q1

Fred's Super Dollar posted a slight 0.2% sales gain for its first quarter ended May 4, to $501.4 million.

MEMPHIS, Tenn. — Fred's Super Dollar on Tuesday posted a slight 0.2% sales gain for its first quarter ended May 4, to $501.4 million. Comparable store-sales for the quarter were down 1.3%. 

For the month of April (four weeks ended May 4), Fred's total sales increased 3% to $152.2 million. Comparable store sales for the month increased 1.2% comparatively.

May 8, 2013
McKesson posts annual revenues of $122.5 billion, reports strong cash flow for new fiscal year

McKesson on Tuesday reported fiscal year revenues of $122.5 billion, relatively flat as compared with the prior fiscal year.

SAN FRANCISCO — McKesson on Tuesday reported fiscal year revenues of $122.5 billion, relatively flat as compared with the prior fiscal year. Full-year adjusted earnings per diluted share was $6.33, compared to $6.38 in the prior year.

May 8, 2013
Takeda to acquire Colo. maker of vaccines for tropical diseases

Japanese drug maker Takeda Pharmaceutical Co. will buy Fort Collins, Colo.-based vaccine maker Inviragen for up to $250 million, the two companies said Wednesday.

DEERFIELD, Ill. — Japanese drug maker Takeda Pharmaceutical Co. will buy Fort Collins, Colo.-based vaccine maker Inviragen for up to $250 million, the two companies said Wednesday.

May 6, 2013
Grocer Weis Markets posts first-quarter sales increase of 3.2%

Weis Markets on Monday posted first-quarter sales of $682.7 million, representing an increase of 3.2%. Same-store sales were up 0.8%.

SUNBURY, Pa. — Weis Markets on Monday posted first-quarter sales of $682.7 million, representing an increase of 3.2%. Same-store sales were up 0.8%.  

"We continue to make forward progress in a market impacted by a poor economy that is generating minimal job growth. These have been ongoing trends in most of the markets we serve," said David Hepfinger, Weis Markets' president and CEO.  "Our customers also were impacted in the first quarter by a tax increase and post-holiday debt," he said. 

May 3, 2013
Actavis sales up 24% in first quarter 2013

Actavis' had $1.9 billion in sales in first quarter 2013, the drug maker said.

PARSIPPANY, N.J. — Actavis' had $1.9 billion in sales in first quarter 2013, the drug maker said.

The latest figure represented a 24% increase from first quarter 2012's $1.52 billion. "The new Actavis is off to a strong start in 2013, and as a result, we are increasing our 2013 forecast based on the strong performance and execution against our objectives to date," president and CEO Paul Bisaro said.

May 3, 2013
April sales up 3.8% across Walgreens

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%.

May 3, 2013
Hain Celestial buys Ella's Kitchen

Hain Celestial Group, the company that makes Celestial Seasonings tea and other products, has purchased organic baby food company Ella's Kitchen Group, the company said.

LAKE SUCCESS, N.Y. — Hain Celestial Group, the company that makes Celestial Seasonings tea and other products, has purchased organic baby food company Ella's Kitchen Group, the company said.

Financial terms of the deal were not disclosed, but the company said Ella's had $70 million in sales last year. The company markets its products in the United States, United Kingdom and Scandinavia, offering 80 products for babies, toddlers and small children. In addition, Ella's founder Paul Lindley will become CEO of Hain Celestial US's new Global Infant, Toddler and Kids Division.

May 3, 2013
IMS Health acquires Semantelli Corp.

Healthcare analytics firm IMS Health has acquired social media analytics company Semantelli Corp., saying the purchase would allow it to provide real-time monitoring and delivery of insights into consumer and physician behavior and sentiments.

DANBURY, Conn. — Healthcare analytics firm IMS Health has acquired social media analytics company Semantelli Corp., saying the purchase would allow it to provide real-time monitoring and delivery of insights into consumer and physician behavior and sentiments.