Financial News

MEMPHIS, Tenn. — Any trickle-down of an improving economy hasn't trickled down to Fred's consumer base, Bruce Efird, Fred's CEO, told analysts Tuesday morning in discussing the discounter's third-quarter results. "During the third quarter we continue to see generally weak economic conditions throughout the Southeast which are clearly weighing heavily on our customers and influencing how they shop for their basic needs," he said. "It's more evident that things are not getting better for our core customers." 

NEW YORK — Bayer will not be raising its offer for Schiff Nutrition to match or exceed last week's bid from Reckitt Benckiser, Reuters reported Tuesday morning. 

Bayer's bid is still active, however, and is in discussions with Schiff to acquire the company for its original evaluation of $1.2 billion. Reckitt Benckiser bid $1.4 billion. 

To read the Reuters report, click here. 

HOFFMAN ESTATES, Ill. — Sears Holdings, the parent company of Kmart and Sears, is looking to shift its business model to one that focuses on members of its Shop Your Way program and their shopping experience, the company said in its third-quarter 2012 earnings report.

Depilatories continue to enjoy strong growth, thanks in large part to product innovation and new entrants to the segment.

According to data from SymphonyIRI Group, a Chicago-based market research firm, sales of depilatories rose about 13% for the 12 weeks ended Oct. 7 at total U.S. multi-outlets, which covers supermarkets, drug stores, mass-market retailers (including Walmart), military commissaries, and select club and dollar retail chains.

With some 40 million to 50 million people in the United States battling acne, it is no surprise that sales of acne treatments continue to be on the rise.

According to data from SymphonyIRI Group, a Chicago-based market research firm, sales of acne treatments rose 0.24% for the 12 weeks ended Oct. 7 at total U.S. multi-outlets, which covers supermarkets, drug stores, mass market retailers (including Walmart), military commissaries, and select club and dollar retail chains.

The beauty segment continues to celebrate the success of several stars, including nail polish, and men’s grooming is no exception. In fact, industry eyes are once again zeroing in on this vibrant category, as sales enjoy an uptick in such segments as men’s hair coloring and grooming/shaving.

MATTHEWS, N.C. — Harris Teeter Supermarkets on Thursday declared a quarterly dividend in the amount of $0.15 per share to be paid on Jan. 1, to shareholders of record on Dec. 14. This represents a $0.01 increase in the quarterly dividend amount, from the $0.14 per share that the company paid in previous quarters.

Harris Teeter also announced that its board declared a special dividend of $0.50 per share to be paid on Dec. 31 to shareholders of record on Dec. 14.

SLOUGH, England — The battle for Schiff Nutrition is on. Reckitt Benckiser on Friday commenced its previously announced tender offer to acquire all of the outstanding shares of Schiff Nutrition — a provider of branded vitamins, nutrition supplements and nutrition bars in the United States and elsewhere — for $42 per share in cash, or approximately $1.4 billion.