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PITTSBURGH — GNC Thursday evening announced its initial public offering of 22.5 million shares of its Class A common stock at an opening price of $16 per share.

Of the shares offered, 16 million are being issued and sold by GNC and 6.5 million shares are being sold by selling stockholders.

In addition, selling stockholders have granted the underwriters a 30-day option to purchase up to an additional 3.4 million shares. That offering is expected to close on April 6.

TORONTO — Front-end sales rendered positive results for Shoppers Drug Mart during the fourth quarter ended Jan. 1, the Canadian drug store chain said.

Strong sales gains in the beauty, confection and convenient food and beverage categories drove front-end sales up 5.5%, Shoppers reported. The big gain, the company said, contributed to the 2.9% increase of its fourth-quarter sales to nearly $2.6 billion.

Prescription sales for the chain, however, fell about 0.2%.

CAMP HILL, Pa. — According to the National Retail Federation, the average person will spend more than $116 on Valentine’s Day, and shoppers will spend 11% more at flower shops, candy stores and retailers this year than last year.

Retail pharmacy chain Rite Aid said Monday it would be ready to sell chocolates, stuffed animals, trinkets and cards to last-minute shoppers.

These include Valentine’s Day cards for students and such novelty gifts as key chains, Lotto for Lovers scratch cards and bags of chocolate hearts for less than $1.

Even as the big get bigger, it appears that the industry’s top regional chains continue to grow in relevance and importance in the markets they dominate. Drug Store News profiles 10 of the industry’s top regional pharmacy chains, with a special focus on what these companies are doing to create a unique definition of health and wellness that resonates with local shoppers. Click below to download the PDF of the Regional Chain Report.

MONTVALE, N.J. — Bankrupt grocer A&P has announced that the U.S. Bankruptcy Court for the Southern District of New York has approved the $800 million debtor-in-possession financing provided by JPMorgan Chase. Of the total DIP facility, a $350 million term loan immediately has been made available.

As previously reported, A&P filed for bankruptcy on Sunday and will keep its 395 stores open and operational during the proceedings.

In addition, the court granted A&P's motion to approve its request for "first day orders," including:

Looking to bolster sales and better serve its customers, Walmart has stepped up its engagement with suppliers to review its assortment and bring in more new and innovative products — and the beauty department is no exception.


NEW YORK Winning Brands will make its Winning Colours stain remover available in 100 Duane Reade locations starting January 2011, the manufacturer announced on Friday.

The stores will carry the new Winning Colours stain remover 12-unit display pack containing 4-fl.-oz. bottles designed for tight spaces and busy lives.