Financial News

ISSAQUAH, Wash. — Costco Wholesale Corp.'s sales increased 8% to $7.58 billion in February, the club retailer said Thursday.

For the 26-week period that ended Sunday, the chain reported sales of $51.35 billion, a 9% increase over February 2012. Comps for the company's U.S. stores increased 6% during the month and also during the past 26-week period.

CAMP HILL, Pa. — Rite Aid's same-store sales for February 2013 decreased by 3.6% over the previous year, including a 1.3% decrease in front-end same-store sales and a 4.7% decrease in pharmacy same-store sales, the retail pharmacy chain said Thursday.

Front-end comps attributable to flu-related OTC products were flat, while pharmacy comps included a negative effect of 695 basis points from new generic introductions. Same-store prescription count increased 0.3%, including a 0.1% decrease attributable to flu shots and prescription flu drugs.

WASHINGTON — Club retailer Costco Wholesale is throwing its support behind a bill introduced in Congress Tuesday to raise the federal minimum wage.

NEW YORK — L&R Distributors on Tuesday closed on the deal to acquire the assets of SAJ Distributors, along with the private-label line Select Brand from Walgreens. 

This transaction was announced originally in November 2012. 

SUNBURY, Pa. — Weis Markets on Tuesday reported net income of $82.5 million for the 52-week period ended Dec. 29. Even with one less week of sales, that's up 9.2% versus fiscal 2011, which was a 53-week period, the grocer noted. Sales were down slightly by 1.9% to $2.7 billion compared with the week-longer year-ago period. Comparable sales were down 2%. 

Adjusting for the 52-week to 53-week comparison, the grocer's 2012 net income increased 13.9% while sales and comparable store sales were flat.

DEERFIELD, Ill. — Walgreens' February sales fell short of analyst projections due to a sharper impact from generic drug introductions. Walgreens on Tuesday reported sales in total comparable stores decreased by 0.6% in February. Generic drug introductions negatively impacted total pharmacy comparable sales, which were flat, by 600 basis points, Walgreens reported.

LAKELAND, Fla. — While Publix has been tied to rumors it may put in a bid for Harris Teeter, local daily The Ledger on Monday reported that Publix isn't at all interested. 

Publix is in the midst of its first expansion into North Carolina, with plans to open two stores in the Charlotte area in 2014.

Officials with Harris Teeter recently confirmed that the 208-store chain will consider offers from potential buyers.

PLANO, Texas — Dr Pepper Snapple Group has purchased a company that bottles its beverages for much of the West, the company said.