Content about finance

November 25, 2013

The global market research firm Harris Interactive on Monday announced that it has entered into a definitive merger agreement to be acquired by Nielsen Holdings.

ROCHESTER, N.Y. — The global market research firm Harris Interactive on Monday announced that it has entered into a definitive merger agreement to be acquired by Nielsen Holdings. 

November 20, 2013

Former Revlon CEO David Kennedy is taking the helm at Scientific Games Corp., a developer of technology-based products and services and associated content for gaming and lottery markets worldwide.

NEW YORK — Former Revlon CEO David Kennedy is taking the helm at Scientific Games Corp., a developer of technology-based products and services and associated content for gaming and lottery markets worldwide.

In his new role as CEO, Kennedy will succeed A. Lorne Weil. The technology company has also determined to separate the roles of chairman and CEO and has appointed Ronald O. Perelman as its chairman.

October 31, 2013

NEW YORK — Revlon has named former Colomer Group executive Lorenzo Delpani as president and CEO, effective Nov. 1.

October 24, 2013

Coupons.com on Thursday announced the appointment of former Safeway executive Mir Aamir as the company’s CFO and COO. He will oversee all financial and accounting functions.

MOUNTAIN VIEW, Calif. — Coupons.com on Thursday announced the appointment of former Safeway executive Mir Aamir as the company’s CFO and COO. He will oversee all financial and accounting functions.  

The roles are presently managed by Richard Hornstein, the company’s CFO and general counsel. Hornstein will continue in the role of general counsel and chief legal officer, a role he has held for the past two-and-a-half years. Aamir, in addition to the finance functions, will also oversee the company’s operations and the international business.

October 23, 2013

All or part of Safeway may be a target for a possible buyout, according to a Reuters report published Wednesday morning citing people familiar with the matter.

NEW YORK — All or part of Safeway soon may be a target for a possible buyout, according to a Reuters report published Wednesday morning citing people familiar with the matter. 

According to the report, several buyout firms, including Cerberus Capital Management, are exploring a deal for the supermarket chain currently valued at $8 billion. 

October 18, 2013

Safeway on Friday announced that its board of directors increased the authorized level of the company's stock repurchase program by $2 billion.

PLEASANTON, Calif. — Safeway on Friday announced that its board of directors increased the authorized level of the company's stock repurchase program by $2 billion. Through the end of the third quarter of 2013, Safeway had approximately $0.8 billion remaining under its previously authorized stock repurchase program.

Safeway's stock repurchase authorization does not have an expiration date, and the timing of repurchases will depend on market conditions. 

October 10, 2013

For the Food and Drug Administration’s Office of Generic Drugs, one of the biggest stumbling blocks has been its significant backlog of generic drug approval applications. But it’s steadily making progress in addressing the problem.

For the Food and Drug Administration’s Office of Generic Drugs, one of the biggest stumbling blocks has been its significant backlog of generic drug approval applications. But it’s steadily making progress in addressing the problem.

When Congress approved a reauthorization of the Prescription Drug User Fee Act that included the Generic Drug User Fee Amendments last year, that backlog included about 2,500 applications. But thanks to GDUFA, the agency has managed to clear muchof it.

October 7, 2013

Walgreens on Monday announced Balance Financial, a full suite of integrated financial services that will be launching in phases over the coming months, all built around its new Balance Financial Prepaid MasterCard.

DEERFIELD, Ill. — Walgreens on Monday announced Balance Financial, a full suite of integrated financial services that will be launching in phases over the coming months, all built around its new Balance Financial Prepaid MasterCard.

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

Revlon has announced the departure of CEO Alan Ennis to “pursue other interests.” Succeeding Ennis is David Kennedy, who has been elected as vice chairman and interim CEO.

NEW YORK — Revlon has announced the departure of CEO Alan Ennis to “pursue other interests.” Succeeding Ennis is David Kennedy, who has been elected as vice chairman and interim CEO.

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.

September 10, 2013

Members of Kmart's loyalty card program can use low-cost check cashing services at stores, the retail chain said.

HOFFMAN ESTATES, Ill. — Members of Kmart's loyalty card program can use low-cost check cashing services at stores, the chain said Tuesday.

September 10, 2013

This year's spring allergy season has been characterized by a late start. "The allergy season was very weak in February and March, and even the beginning of April [was] very weak," William Peters, CFO and VP finance for Hi-Tech Pharmacal, told analysts in July.

This year's spring allergy season has been characterized by a late start. "The allergy season was very weak in February and March, and even the beginning of April [was] very weak," William Peters, CFO and VP finance for Hi-Tech Pharmacal, told analysts in July. "June was more consistent with the previous year," he added.

August 22, 2013

Elizabeth Arden, whose portfolio includes such celebrity fragrance brands as Britney Spears, Elizabeth Taylor and Justin Bieber, has announced the resignation of its EVP and CFO Stephen Smith, effective Sept. 1. Smith is leaving the company to serve as EVP and CFO of the Hain Celestial Group.

NEW YORK — Elizabeth Arden, whose portfolio includes such celebrity fragrance brands as Britney Spears, Elizabeth Taylor and Justin Bieber, has announced the resignation of its EVP and CFO Stephen Smith, effective Sept. 1. Smith is leaving the company to serve as EVP and CFO of the Hain Celestial Group.

Elizabeth Arden is now searching for a new CFO.

August 20, 2013

Cardinal Health hosted a full-day pharmacy ownership “boot camp” to support Women in Pharmacy in Seattle, Saturday, Aug. 10, at the Cardinal Health 2013 Retail Business Conference, helping to pave the way to independent ownership for a key demographic across pharmacy schools and pharmacy operations — female pharmacists.

SEATTLE — Cardinal Health hosted a full-day pharmacy ownership “boot camp” to support Women in Pharmacy in Seattle, Saturday, Aug. 10, at the Cardinal Health 2013 Retail Business Conference, helping to pave the way to independent ownership for a key demographic across pharmacy schools and pharmacy operations — female pharmacists.

August 19, 2013

In a segment of CNBC's "Mad Money" program, host Jim Cramer proclaimed "Rite Aid is back" when a caller asked for the former hedge fund manager's opinion about the Camp Hill, Pa.-based retail pharmacy chain. "Rite Aid is good. … It is an okay situation. The group is strong," Cramer said.

Cramer's proclamation only confirmed what Drug Store News has been saying for a while now, ever since it became clear that Rite Aid had hit pay dirt with its Wellness+ loyalty card program, growing sales and reversing several years of annual and quarterly losses. In April 2013, the company posted its first profitable fiscal year since 2007.

In a segment of CNBC's "Mad Money" program, host Jim Cramer proclaimed "Rite Aid is back" when a caller asked for the former hedge fund manager's opinion about the Camp Hill, Pa.-based retail pharmacy chain. "Rite Aid is good. … It is an OK situation. The group is strong," Cramer said.

August 19, 2013

Global losses from credit, debit and prepaid card fraud reached $11.27 billion, an increase of 14.6% over the year before, according to a new report.

CARPINTERIA, Calif. — Global losses from credit, debit and prepaid card fraud reached $11.27 billion, an increase of 14.6% over the year before, according to a new report.

August 15, 2013

"Rite Aid is back!” That’s what Jim Cramer told viewers during the “Lightening Round” portion of his “Mad Money” investment advice program on Wednesday on CNBC.

NEW YORK — "Rite Aid is back!” That’s what Jim Cramer told viewers during the “Lightening Round” portion of his “Mad Money” investment advice program on Wednesday on CNBC.

When asked by a caller his opinion on Rite Aid stock, Cramer enthusiastically replied, “Rite Aid is good. … It is an okay situation. The group is strong. Rite Aid is back!”

August 8, 2013

The board of directors of AmerisourceBergen has authorized a new $750 million share repurchase program.

VALLEY FORGE, Pa. — The board of directors of AmerisourceBergen has authorized a new $750 million share repurchase program.

AmerisourceBergen expects to use the new program to repurchase its outstanding shares of common stock, subject to market conditions. The company has $446.1 million remaining on its prior November 2012 authorization, bringing the total amount authorized for repurchases to $1.2 billion. To date in fiscal year 2013, which ends Sept. 30, the company has spent $401.1 million to repurchase its outstanding shares of common stock.

August 8, 2013

Despite a slowdown in U.S. retail and consumer merger and acquisition activity in second quarter 2013, there are signs that M&A activity could experience an uptick for the remainder of 2013, according to PwC's U.S. retail and consumer deals insights Q2 2013 report released on Thursday.

NEW YORK — Despite a slowdown in U.S. retail and consumer merger and acquisition activity in second quarter 2013, there are signs that M&A activity could experience an uptick for the remainder of 2013, according to PwC's U.S. retail and consumer deals insights Q2 2013 report released on Thursday.

August 5, 2013

Revlon is looking to acquire from CVC Capital Partners the beauty company Colomer Group for $660 million, a move that will enable Revlon to expand into the professional salon market.

NEW YORK — Revlon is looking to acquire from CVC Capital Partners the beauty company Colomer Group for $660 million, a move that will enable Revlon to expand into the professional salon market.

The acquisition, which is subject to certain customary conditions and regulatory approvals, is expected to close in the fourth quarter of 2013. Revlon expects to finance the acquisition using funds underwritten by Citigroup Global Markets.

August 1, 2013

Procter & Gamble announced on Thursday that net sales for the fiscal year inched up 1% as net earnings per share from continuing operations rose 24%.

CINCINNATI — Procter & Gamble announced on Thursday that net sales for the fiscal year inched up 1% as net earnings per share from continuing operations rose 24%.

July 31, 2013

McKesson on Wednesday announced preliminary voting results from its annual meeting of stockholders.

SAN FRANCISCO — McKesson on Wednesday announced preliminary voting results from its annual meeting of stockholders held here earlier. All board members were re-elected and all board vote recommendations were upheld, with the exception of the advisory vote on executive compensation and the shareholder proposal on the company’s compensation clawback policy.

July 26, 2013

A company in Finland is about to launch a payment system that allows customers to use their face, according to published reports.

NEW YORK — Pretty soon, retail clerks may be asking customers if they want to pay with cash, credit or face, according to published reports. 

Popular Science reported that Finland-based Uniqul was creating a system that would take the customer's photo and then process biometric data, connecting it to their account. Customers would create the accounts using their credit or debit cards, and Uniqul said the system — which uses military encryption technology — would reduce time for payments from 30 seconds to less than five seconds.