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Rite Aid posts 1.8% increase in January comp sales despite tough flu comparisons
CAMP HILL, Pa. — Rite Aid's January same-store sales increased 1.8%, beating out an analyst projection of a 0.5% increase in overall comparable-store sales. Total drug store sales for the four weeks ended Jan. 25 increased 1.5% to $1.9 billion.
January front-end same-store sales decreased 1.3%, of which 1.4% was attributable to a decrease in sales of flu-related over-the-counter products. Pharmacy same-store sales, which included an approximate 124 basis points negative impact from new generic introductions, increased 3.2%.
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Kroger and Harris Teeter close merger transaction
CINCINNATI — Kroger and Harris Teeter supermarkets Wednesday morning announced that the merger transaction between the two companies was completed on Jan. 28, 2014. Under the terms of the merger agreement, Harris Teeter shareholders will receive $49.38 per share of Harris Teeter common stock.
As of Jan. 28 shares of Harris Teeter common stock ceased to trade on the New York Stock Exchange.