Financial News

MATTHEWS, N.C. — Family Dollar stores reported a 12.7% increase in net sales and a 6.6% increase in comps in first quarter 2013, the company said.

NEW YORK — According to a Bloomberg report published Friday morning, Abbott Laboratories, Johnson & Johnson and Sanofi are all potential suitors for Bausch & Lomb's eye care business in a deal that could be valued as high as $10 billion. 

B&L is being shopped by private equity firm Warburg Pincus, which is working with Goldman Sachs Group, Bloomberg reported, and both Abbott and Sanofi have contracted financial advisors as well. 

Other companies who have been invited to bid include Merck and Pfizer. 

DEERFIELD, Ill. — Both the strong incidence of influenza and the rise in the number of flu shots administered in December positively impacted comparable prescriptions filled at Walgreens on a day-fall adjusted basis, the company reported Friday. Flu shots administered at pharmacies and clinics season-to-date were nearly 5.5 million versus approximately 5.3 million last year, the retailer noted. 

VALLEY FORGE, Pa. — AmerisourceBergen on Wednesday announced the election of former Campbell Soup president and CEO Douglas Conant to its board, effective immediately. Conant’s election increases the number of AmerisourceBergen directors from nine to 10.

“Doug’s extensive business experience, exceptional leadership capabilities and proven track record for growing brands and businesses make him an excellent addition to our board,” stated Richard Gozon, AmerisourceBergen chairman.

NEW YORK — Weaker than expected December sales at Target will cause fourth quarter profits to come in at the low end of an earlier forecast, the company said.

Sales at Target for the five week period ended December 31, increased 0.8% to $10.2 billion while same store sales were essentially flat, below the company’s guidance which called for an increase in the low single digits. The performance was driven by a low single digit decrease in comparable store transactions, offset by an increase in average transaction size.

CAMP HILL, Pa. — A shift in the New Year's holiday calendar and the introduction of new generic drugs contributed to a decrease in same-store sales for the month of December at Rite Aid, the retail pharmacy chain said Thursday.

MEMPHIS, Tenn. — Fred's on Thursday reported a 1% sales decline to $209.9 million for the five-week fiscal month ended Dec. 29. Comparable store sales for the month decreased 4.2% compared with a decline of 0.4% in the same period last year.

NEW YORK — Wall Street on Wednesday celebrated the "fiscal cliff" compromise as stocks across the board were trading up by some 200 basis points. As of noon, the Dow was up 1.7% and Nasdaq 2.3%.