Content about Financial News

October 4, 2013

A private equity firm that is a major Rite Aid shareholder has exchanged its preferred stocks for common stock, according to a regulatory filing.

CAMP HILL, Pa. – A private equity firm that is a major Rite Aid shareholder has exchanged its preferred stocks for common stock, according to a regulatory filing.

October 4, 2013

Harris Teeter Supermarkets on Thursday announced that Harris Teeter’s shareholders overwhelmingly voted to approve the previously announced merger agreement among Harris Teeter, Hornet Acquisition and Kroger.

MATTHEWS, N.C. — Harris Teeter Supermarkets on Thursday announced that Harris Teeter’s shareholders overwhelmingly voted to approve the previously announced merger agreement among Harris Teeter, Hornet Acquisition and Kroger. Approximately 98.6% of the votes cast during the day's special meeting were voted in favor of the merger agreement, representing approximately 82.5% of Harris Teeter’s outstanding common stock as of Aug. 22, 2013, the record date for the special meeting. 

October 3, 2013

The National Retail Federation expects sales in the months of November and December to increase 3.9% to $602.1 billion, up slightly from last year’s actual 3.5% holiday season sales growth. The forecast is higher than the 10-year average holiday sales growth of 3.3%.

WASHINGTON, D.C. — The National Retail Federation expects sales in the months of November and December to increase 3.9% to $602.1 billion, up slightly from last year’s actual 3.5% holiday season sales growth. The forecast is higher than the 10-year average holiday sales growth of 3.3%.

October 3, 2013

Rite Aid's same-store sales increased last month despite being offset by slightly lower front-end same-store sales and new generic drug introductions, the retail pharmacy chain said Thursday.

CAMP HILL, Pa. — Rite Aid's same-store sales increased last month despite being offset by slightly lower front-end same-store sales and new generic drug introductions, the retail pharmacy chain said Thursday.

During the four-week period that ended Saturday, same-store sales increased 1.9% compared with September 2012. The increase included a 0.5% decrease in front-end comps and a 3.1% increase in pharmacy comps, offset by 1% due to new generics. Same-store prescription count increased by 0.9%.

October 3, 2013

Shop.org expects holiday online sales in November and December to grow between 13% and 15% from last holiday season, to as much as $82 billion.

WASHINGTON, D.C. — Shop.org expects holiday online sales in November and December to grow between 13% and 15% from last holiday season, to as much as $82 billion.

October 3, 2013

Walgreens on Thursday posted September sales of $5.9 billion, an increase of 8% as compared with the same month in fiscal 2013.

DEERFIELD, Ill. — Walgreens on Thursday posted September sales of $5.9 billion, an increase of 8% as compared with the same month in fiscal 2013.

Total front-end sales increased 4.1%, while comparable store front-end sales increased 2.9%. Customer traffic in comparable stores decreased 0.8% while basket size increased 3.7%.

October 2, 2013

Actavis has appointed the board of directors for the division it recently created as part of its acquisition of Ireland-based Warner Chilcott, the drug maker said.

DUBLIN — Actavis has appointed the board of directors for the division it recently created as part of its acquisition of Ireland-based Warner Chilcott, the drug maker said.

Actavis, which announced the $8.5 billion purchase of Warner Chilcott, cleared the final regulatory hurdle to the acquisition Monday when the Irish High Court approved it. As part of the acquisition, it is changing Warner Chilcott's name to Actavis plc.

October 1, 2013

Ireland's High Court has approved Actavis' acquisition of Warner Chilcott, the drug makers said.

DUBLIN — Ireland's High Court has approved Actavis' acquisition of Warner Chilcott, the drug makers said.

The companies said the approval of Irish authorities meant that they had obtained all regulatory approvals required to complete the transaction, and that it now remained subject to satisfaction of other customary closing conditions and would occur as soon as practicable.

Actavis and Warner Chilcott announced the $8.5 billion merger deal in May. The companies' shareholders voted to approve it on Sept. 10.

 

October 1, 2013

McKesson on Monday announced James Beer will join the company as EVP and CFO on Oct. 9. Beer will be responsible for overseeing all financial functions for McKesson and replaces Jeff Campbell, who left the company in June 2013 to become CFO of American Express Co.

SAN FRANCISCO — McKesson on Monday announced James Beer will join the company as EVP and CFO on Oct. 9. Beer will be responsible for overseeing all financial functions for McKesson and replaces Jeff Campbell, who left the company in June 2013 to become CFO of American Express Co. Beer will also join McKesson’s executive committee. 

October 1, 2013

Publix on Tuesday announced its board of directors declared a semi-annual cash dividend of 35 cents per share on its common stock.

LAKELAND, Fla. — Publix on Tuesday announced its board of directors declared a semi-annual cash dividend of 35 cents per share on its common stock.

The dividend will be payable Dec. 2, 2013, either through direct deposit or mailed as a check to stockholders of record as of the close of business Oct. 31, 2013, the grocer stated.

October 1, 2013

Walgreens posted a sales gain of 0.8% for the fiscal year ended Aug. 31, reaching a record $72.2 billion and filling a record 821 million prescriptions.

DEERFIELD, Ill. — Walgreens posted a sales gain of 0.8% for the fiscal year ended Aug. 31, reaching a record $72.2 billion and filling a record 821 million prescriptions. That volume of prescriptions filled helped Walgreens boost its retail pharmacy market share for the fiscal year to 19.1%. 

Early morning trading boosted Walgreens' share price from a close of $53.80 on Monday to $56.06, an increase of 4.2%.

September 30, 2013

Amneal Pharmaceuticals has bought rights to four generic drugs from Actavis, Amneal said Monday.

BRIDGEWATER, N.J. — Amneal Pharmaceuticals has bought rights to four generic drugs from Actavis, Amneal said Monday.

September 30, 2013

H. D. Smith on Monday announced full ownership acquisition of Triplefin, a reimbursement, patient assistance and pharmaceutical brand-support services company headquartered in Cincinnati.

SPRINGFIELD, Ill. — H. D. Smith on Monday announced full ownership acquisition of Triplefin, a reimbursement, patient assistance and pharmaceutical brand-support services company headquartered in Cincinnati. H. D. Smith secured majority representation on Triplefin's board of directors in January 2013 and majority stock ownership interest in May 2013. 

September 26, 2013

Southeastern Grocers, parent company of Bi-Lo and Winn-Dixie supermarkets, on Thursday announced that it has filed a registration statement on a proposed initial public offering.

JACKSONVILLE, Fla. — Southeastern Grocers, parent company of Bi-Lo and Winn-Dixie supermarkets, on Thursday announced that it has filed a registration statement on a proposed initial public offering.  

The shares are expected to be offered by Southeastern Grocers, and the number of shares to be offered and the price range for the offering have not yet been determined.

September 24, 2013

Belgian drug maker Ablynx is licensing an experimental treatment for rheumatoid arthritis and lupus to U.S. drug maker AbbVie in a deal worth up to $840 million.

GHENT, Belgium — Belgian drug maker Ablynx is licensing an experimental treatment for rheumatoid arthritis and lupus to U.S. drug maker AbbVie in a deal worth up to $840 million, the companies said.

The two drug makers announced that AbbVie would license the drug ALX-0061 for an upfront payment of $175 million plus milestone payments worth up to $665 million, as well as royalties. The drug belongs to a class known as anti-interleukin-6R nanobodies, which work by targeting an immune-system protein pathway that plays a key role in the inflammation associated with RA.

September 24, 2013

A forecast of holiday sales announced on Monday by Deloitte shows retailers can expect moderate sales gains this season.

NEW YORK — A forecast of holiday sales announced on Monday by Deloitte shows retailers can expect moderate sales gains this season.

September 20, 2013

Kroger's board of directors raised the quarterly dividend by 10%, to 16.5 cents per share, to be paid on Dec. 1, 2013 to shareholders of record as of the close of business on Nov. 15, 2013.

CINCINNATI — Kroger's board of directors on Thursday raised the quarterly dividend by 10%, to 16.5 cents per share, to be paid on Dec. 1, 2013 to shareholders of record as of the close of business on Nov. 15, 2013.

"This increase reflects the board of directors' continued confidence that our Customer 1st strategy delivers sustainable shareholder value," stated David Dillon, Kroger's chairman and CEO. "Since we reinstated dividends in 2006, Kroger has returned more than $8.3 billion to shareholders through dividends and share repurchases."

September 20, 2013

Feeding America, a hunger-relief organization, along with long-standing donor partner Procter and Gamble, revealed results of a new study showing many families with children struggle to afford basic, non-food household goods, including products related to personal care, household care and baby care.

CHICAGO — Feeding America, a hunger-relief organization, along with long-standing donor partner Procter and Gamble, revealed results of a new study showing many families with children struggle to afford basic, non-food household goods, including products related to personal care, household care and baby care.

September 19, 2013

Rite Aid posted its fourth-consecutive profitable quarter Thursday as it reached a milestone in its store conversions and saw growth in the latest expansion to its loyalty program.

CAMP HILL, Pa. — Rite Aid posted its fourth-consecutive profitable quarter Thursday as it reached a milestone in its store conversions and saw growth in the latest expansion to its loyalty program.

September 17, 2013

Safeway on Tuesday announced that it has adopted a one-year stockholder rights plan.

PLEASANTON, Calif. — Safeway on Tuesday announced that it has adopted a one-year stockholder rights plan. 

The company has become aware of an accumulation of a significant amount of the common stock of the company, Safeway stated. The board of directors believes that the rights plan will help promote the fair and equal treatment of all stockholders of the company and ensure that the board remains in the best position to discharge its fiduciary duties to the company and its stockholders. 

September 16, 2013

Sears Holdings is hoping to obtain a new loan in order to reduce borrowings from an older loan agreement, the company said Monday.

HOFFMAN ESTATES, Ill. — Sears Holdings is hoping to obtain a new loan in order to reduce borrowings from an older loan agreement, the company said Monday.

Sears Holdings, the parent company of mass merchandiser Kmart, said it had issued a notice that it intended to obtain an incremental term loan of up to $1 billion.

September 13, 2013

Publix Super Markets and Bi-Lo Holdings, parent company of the Bi-Lo and Winn-Dixie grocery store chains, on Friday announced they have entered into an agreement under which Publix is expected to purchase seven Bi-Lo-branded stores in North and South Carolina.

LAKELAND and JACKSONVILLE, Fla. — Publix Super Markets and Bi-Lo Holdings LLC, parent company of the Bi-Lo and Winn-Dixie grocery store chains, on Friday announced they have entered into an agreement under which Publix is expected to purchase seven Bi-Lo-branded stores in North and South Carolina. The transaction is projected to close in October 2013 and includes seven leased stores as well as major equipment. Financial terms of the transaction were not disclosed.

September 13, 2013

Cubist has completed its purchase of Trius Therapeutics, Cubist said.

LEXINGTON, Mass. — Cubist has completed its purchase of Trius Therapeutics, Cubist said.

The $704 million acquisition will give Cubist control of the drug tedizolid phosphate, an experimental drug that it said had the potential to treat resistant infections. Trius ceased to be traded on the NASDAQ earlier this week.

September 13, 2013

According to the National Retail Federation, retail sales increased in the month of August, but came in at a much slower pace than had been anticipated.

WASHINGTON — According to the National Retail Federation, retail sales increased in the month of August, but came in at a much slower pace than had been anticipated.

According to data released Friday by the U.S. Census Bureau, total retail and food services sales (which include non-general merchandise categories such as automobiles, gasoline stations, and restaurants) in August increased 0.2% seasonally adjusted month-to-month and increased 4.7% adjusted year-over-year.

September 12, 2013

Kroger on Thursday reported total sales of $22.7 billion for the second quarter ended Aug. 17, representing an increase of 4.6% as compared with the year-ago period.

CINCINNATI — Kroger on Thursday reported total sales of $22.7 billion for the second quarter ended Aug. 17, representing an increase of 4.6% as compared with the year-ago period. Total sales, excluding fuel, increased 3.9% in the second quarter over the same period last year.  

And according to the grocer, this quarter marks the 39th consecutive quarter of positive identical supermarket sales.