Financial News

WASHINGTON — Many retailers have pointed to a persistent and severe winter for weak holiday and fourth-quarter sales. But according to the National Retail Federation, retail sales rebounded in February.

The NRF said that February retail sales, excluding automobiles, gas stations and restaurants, increased 0.2% adjusted month-to-month and 2.3% unadjusted year-over-year.

GOODLETTSVILLE, Tenn. — An unrelenting Dollar General continues to push forward with plans to open 700 stores this year despite reporting weak financial results and a 1.3% same-store sales increase for the fourth quarter.

CINCINNATI — Kroger danced around "the elephant in the room" in declining to discuss future merger and acquisition plans on its fourth-quarter conference call Thursday morning. While neither Kroger executives nor analysts actually referenced any potential Safeway transaction, Rodney McMullen, Kroger CEO did provide some color as to what strategic opportunities the company would be interested in: "The thing that was attractive about Harris Teeter as a transaction — it's a well-run company that overall we admired a whole lot," he said.

CAMP HILL, Pa. — Rite Aid on Thursday posted a 1.5% increase in same-store sales for the five weeks ended March 1. February front-end same-store sales decreased 1.8%, of which 0.5% was attributable to a decrease in sales of flu-related over-the-counter products. Pharmacy same-store sales, which included an approximate 138 basis points negative impact from new generic introductions, increased 3.1%. 

MEMPHIS, Tenn. — Fred's Super Dollar on Thursday posted $157.5 million in sales, representing a decline of 1%, for the four weeks ended March 1. Comparable store sales for the month decreased 2.2% compared with a decrease of 1.5% in the prior-year period.

“In the pharmacy department, we will continue to accelerate new pharmacy acquisitions and focus on our plan for EIRIS Health Services, Fred's specialty pharmacy unit, which is experiencing solid script and sales growth in this fast-expanding segment of the pharmacy industry," noted Bruce Efird, Fred's CEO.

SUNBURY, Pa. — Weis Markets on Tuesday evening posted $686.4 million in fourth-quarter sales for the 13-week period ended Dec. 28, 2013, representing a decline of 1.1% as compared to the year-ago period. Comparable store sales for the same period were down 3.5%. In 2013, the company's sales totaled $2.7 billion, down 0.3% compared to 2012. Comparable store sales for the 52-week period ending Dec. 28 declined 2.6%.