Content about finance

November 14, 2012

Skin care brand Murad — which was founded by Howard Murad, a board-certified dermatologist-trained pharmacist — has named Fred Gysi as CFO.

EL SEGUNDO, Calif. — Skin care brand Murad — which was founded by Howard Murad, a board-certified dermatologist-trained pharmacist — has named Fred Gysi as CFO.

Gysi will report to Richard Murad, general manager. In this role, Gysi will be responsible for financial reporting, budgeting, treasury and cash flow management, financial and marketing analysis, and strategic planning.

October 31, 2012

Shrink costs Canadian retailers almost C$4 billion per year, according to a new report.

TORONTO — Shrink costs Canadian retailers almost C$4 billion per year, according to a new report.

The report, released Wednesday by PwC and the Retail Council of Canada and based on a survey of 34 retailers from across Canada, estimated that retailers in Canada lose about C$10.8 million per shopping day to theft by customers and employees, counting mistakes and organized crime. Cosmetics and fragrances, alcohol and women's clothing were the three most popular items to steal, according to the report.

October 29, 2012

Ulta Beauty has announced that Michael MacDonald, president and CEO of DSW, a branded footwear and accessories retailer, has been appointed to its board.

BOLINGBROOK, Ill. — Ulta Beauty has announced that Michael MacDonald, president and CEO of DSW, a branded footwear and accessories retailer, has been appointed to its board.

October 25, 2012

Procter & Gamble announced on Thursday a decrease in both first-quarter net sales and diluted earnings per share from continuing operations, as core earnings per share rose 5%.

CINCINNATI — Procter & Gamble announced on Thursday a decrease in both first-quarter net sales and diluted earnings per share from continuing operations, as core earnings per share rose 5%.

For the July-September period, net sales totaled $20.7 billion, a decrease of 4% compared with the year-ago period — including a negative 6% impact from foreign exchange.

October 25, 2012

Beauty company Revlon posted a net loss for the third quarter due to charges as sales rose 2.9%, thanks to higher net sales of Revlon color cosmetics and the inclusion of net sales of Pure Ice.

NEW YORK — Beauty company Revlon posted a net loss for the third quarter due to charges, as sales rose 2.9% thanks to higher net sales of Revlon color cosmetics and the inclusion of net sales of Pure Ice.

Net sales for the quarter totaled $347 million, up $9.8 million, or 2.9%, compared with the year-ago period. Excluding unfavorable foreign currency fluctuations, net sales rose 4.8%.

October 18, 2012

Ulta Beauty has announced the appointment of Scott Settersten as acting CFO, effective immediately. Settersten replaces Bruce Hartman, who has resigned from his position as CFO by mutual agreement with the company.

BOLINGBROOK, Ill. — Ulta Beauty has announced the appointment of Scott Settersten as acting CFO, effective immediately. Settersten replaces Bruce Hartman, who has resigned from his position as CFO by mutual agreement with the company.

October 10, 2012

Chain Drug Marketing Association has named a VP finance and store brands, as well as a new director of business development.

NOVI, Mich. — Chain Drug Marketing Association has named a VP finance and store brands, as well as a new director of business development.

John Devine, who will serve as VP finance and store brands, has been involved with projects and programs at CDMA for the past 15 years. In his new role, he will be responsible for increasing and enhancing the success of CDMA's store brand program. Devine will report to CDMA president Jim Devine.

October 1, 2012

Ingles Markets announced that its board of directors has declared a cash dividend of 16.5 cents per share on all its class A common stock and 15 cents per share on all its class B common stock.

ASHEVILLE, N.C. — Ingles Markets announced that its board of directors has declared a quarterly cash dividend of 16.5 cents per share on all its class A common stock and 15 cents per share on all its class B common stock. This is an annual rate of 66 cents and 60 cents, respectively.

Both dividends are payable Oct. 25 to shareholders of record on Oct. 11.

October 1, 2012

Publix on Monday announced its board of directors declared a semi-annual dividend on its common stock of 30 cents per share.

LAKELAND, Fla. — Publix on Monday announced its board of directors declared a semi-annual dividend on its common stock of 30 cents per share. The dividend will be payable and mailed Dec. 3, 2012, to stockholders of record as of the close of business Oct. 31, 2012.

September 24, 2012

Savient Pharmaceuticals has appointed a new finance chief.

BRIDGEWATER, N.J. — Savient Pharmaceuticals has appointed a new finance chief.

John Hamill will serve as Savient's SVP and CFO, where he will be responsible for all financial and accounting functions of the company. Hamill, who brings more 25 years of global financial and administrative operational experience to his new role, will directly report to Savient president and CEO Lou Ferrari. Prior to joining the drug maker, Hamill served as CFO of PharmaNet Development Group, a leading global supplier of drug development services.

September 19, 2012

CVS Caremark announced that its board of directors has approved a new share repurchase program for up to $6 billion of the company's outstanding common stock.

WOONSOCKET, R.I. — CVS Caremark announced that its board of directors has approved a new share repurchase program for up to $6 billion of the company's outstanding common stock.
 
The share repurchase authorization, which is effective immediately, permits the company to effect the repurchases from time to time through a combination of open market repurchases, privately negotiated transactions, accelerated share repurchase transactions, and/or other derivative transactions.

September 19, 2012

Revlon’s board has declared a regular dividend of approximately 16.5 cents per share on the Series A Preferred Stock for the period from July 9 through Oct. 8.

NEW YORK — Revlon’s board has declared a regular dividend of approximately 16.5 cents per share on the Series A Preferred Stock for the period from July 9 through Oct. 8.

This regular dividend is payable on Oct. 8 to holders of record of the Series A Preferred Stock at the close of business on Sept. 28.

September 18, 2012

Valeant Pharmaceuticals CFO Howard Schiller has been appointed to the drug maker's board of directors.

MONTREAL — Valeant Pharmaceuticals CFO Howard Schiller has been appointed to the drug maker's board of directors.

Schiller joined Valeant as EVP and CFO in December 2011, following a 24-year career at Goldman Sachs. Schiller also serves on the New York board of Teach for America and on the board of the Cancer Research Institute. In addition, he also is on the business advisory council of the University of Chicago Law School.

September 6, 2012

Beauty brand Physicians Formula Holdings has received an unsolicited, nonbinding proposal to acquire all its outstanding shares of common stock at a price of $4.90 per share.

AZUSA, Calif. — Beauty brand Physicians Formula Holdings has received an unsolicited, nonbinding proposal to acquire all its outstanding shares of common stock at a price of $4.90 per share.

The proposal is subject to several conditions, including the completion of due diligence and securing of financing commitments by the third party who submitted the proposal and the negotiation of a mutually acceptable definitive agreement.

September 5, 2012

Hain Celestial announced that EVP and CFO Ira Lamel will retire from the company.

MELVILLE, N.Y. — Hain Celestial announced that EVP and CFO Ira Lamel will retire from the company.

Lamel will remain with Hain Celestial until a successor is named and to ensure an orderly transition, according to the company, which has commenced a global search for Lamel's replacement. Lamel, 65, joined the company in 2001.

August 21, 2012

Forty-five percent of customers shopping in-store at brick-and mortar-locations will walk out and complete their purchase online for a discount as low as 2.5%, according to new showrooming research from GroupM Next.

ST. LOUIS — Forty-five percent of customers shopping in-store at brick-and mortar-locations will walk out and complete their purchase online for a discount as low as 2.5%, according to new showrooming research from GroupM Next.

This number jumps to 60% of shoppers who will leave and purchase a product online for a savings of 5%. When discovering an online discount of 20%, a small percentage of shoppers (13%) stay and complete their purchase in store.

August 17, 2012

Walgreens. CVS. Rite Aid. Walmart. Costco. Health Mart. Sam’s Club. Ahold. H-E-B. Winn-Dixie. McKesson. Good Neighbor Pharmacy. Kerr Drug. Rexall Canada. Family Dollar. Shoppers Drug Mart. Giant Eagle. The list of participating companies in the 14th Annual Drug Store News Group Industry Issues conference reads like a “who’s who” of retailing.


Walgreens. CVS. Rite Aid. Walmart. Costco. Health Mart. Sam’s Club. Ahold. H-E-B. Winn-Dixie. McKesson. Good Neighbor Pharmacy. Kerr Drug. Rexall Canada. Family Dollar. Shoppers Drug Mart. Giant Eagle. The list of participating companies in the 14th Annual Drug Store News Group Industry Issues conference reads like a “who’s who” of retailing.


August 15, 2012

Target's second-quarter sales increased 3.5% to $16.5 billion and the company’s profits grew 2.9% to $1.06 per share, 5 cents higher than analysts expected.

MINNEAPOLIS — Target's second-quarter sales increased 3.5% to $16.5 billion and the company’s profits grew 2.9% to $1.06 per share, 5 cents higher than analysts expected.

August 15, 2012

Beauty company Physicians Formula is being acquired by private equity firm Swander Pace Capital for $4.25 per share in cash, or approximately $65 million.

AZUSA, Calif., and SAN FRANCISCO — Beauty company Physicians Formula is being acquired by private equity firm Swander Pace Capital for $4.25 per share in cash, or approximately $65 million.

August 14, 2012

Shopkick, a shopping application that rewards shoppers for walking into stores and interacting with products, has teamed up with CVS/pharmacy to roll out a first-ever offering of walk-in and other rewards at a retail pharmacy, Shopkick announced on Tuesday.

PALO ALTO, Calif. — Shopkick, a shopping application that rewards shoppers for walking into stores and interacting with products, has teamed up with CVS/pharmacy to roll out a first-ever offering of walk-in and other rewards at a retail pharmacy, Shopkick announced on Tuesday.

The program kicks off with a special offer, kicking $5 back to shoppers who visit participating CVS/pharmacy locations with the Shopkick app. 



August 10, 2012

BioScrip on Wednesday posted $155.9 million in second-quarter revenue, up 18.5% compared with the prior year.

ELMSFORD, N.Y. — BioScrip on Wednesday posted $155.9 million in second-quarter revenue, up 18.5% compared with the prior year.

"The second-quarter results demonstrate our progress in executing on our strategic plan," BioScrip president and CEO Rick Smith said. "We were able to close on the divestiture of the noncore pharmacy services assets and redeploy a portion of the proceeds towards the acquisition of InfuScience, while delivering sequential improvement on our adjusted EBITDA."

August 10, 2012

Sam's Club has extended its relationship with GE Capital Retail Bank, a consumer lending unit of General Electric.

STAMFORD, Conn. — Sam's Club has extended its relationship with GE Capital Retail Bank, a consumer lending unit of General Electric.

GE Capital Retail Bank will continue providing the Sam's Club credit card program to their advantage and business members. GE Capital's retail finance business, the operating entity that provides financial solutions to retailers to help grow their customer sales, will continue to manage the Sam's Club relationship and service the account.

August 8, 2012

Safeway shoppers looking to save at the pump this summer and beyond no longer will be able to, according to published reports.

PLEASANTON, Calif. — Safeway shoppers looking to save at the pump this summer and beyond no longer will be able to, according to published reports.

August 2, 2012

Walgreens and Alliance Boots on Thursday announced the completion of Walgreens' initial investment in the strategic partnership following receipt of all required regulatory approvals.

DEERFIELD, Ill. — Walgreens and Alliance Boots on Thursday announced the completion of Walgreens' initial investment in the strategic partnership following receipt of all required regulatory approvals. 

The Walgreens investment consists of approximately $4 billion in cash and 83.4 million shares of Walgreens common stock in exchange for a 45% equity stake in Alliance Boots. Walgreens has the option to proceed to a full combination in approximately three years’ time by acquiring the remaining 55% of Alliance Boots.

August 1, 2012

Weis Markets on Tuesday reported a 12.1% increase in its second-quarter net income to $23.2 million.

SUNBURY, Pa. — Weis Markets on Tuesday reported a 12.1% increase in its second-quarter net income to $23.2 million. For the period ended June 30, second-quarter earnings per share increased 11.7% to 86 cents per share, compared with 77 cents per share for the same period in 2011.

Second-quarter sales increased 0.1% to $677.1 million while comparable-store sales increased 0.4%.