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Financial News

  • Fred's records slight uptick in 3Q sales

    MEMPHIS, Tenn. — Fred's Super Dollar on Thursday reported an increase of 1% in total sales to $450.6 million for its third quarter ended Oct. 27. Comparable store sales for the quarter declined 2.5% compared with an increase of 1.5% in the third quarter of 2011.

  • AmerisourceBergen reports $80 billion in fiscal 2012 revenue, looking to divest AndersonBrecon

    VALLEY FORGE, Pa. — AmerisourceBergen on Thursday reported revenue dropped 0.6% to $79.5 billion for its fiscal 2012 ended Sept. 30. Diluted earnings per share were a record $2.76, up 10% over the prior fiscal year diluted earnings per share from continuing operations. Gross profit was up 6.7% to $2.7 billion.

  • Hurricane helps Rite Aid monthly sales

    CAMP HILL, Pa. – Rite Aid got a boost in its monthly same-store sales from Hurricane Sandy, the company said Thursday.

    Announcing its October sales results, the retail pharmacy chain said same-store sales decreased by 1.1%. Front-end comps increased by 1.5%, while pharmacy comps decreased by 2.3%, including a negative effect of 971 basis points from new generic introductions; same-store prescription count increased by 4.7%.

  • Publix third-quarter sales up 4.4%

    LAKELAND, Fla. — Publix on Thursday announced a 4.4% increase in third-quarter sales to $6.7 billion. Same-store sales were up 2.5%. 

    “Although the economy continues to be weak, I’m pleased with the improvement in our operating results and stock price,” stated Publix CEO Ed Crenshaw. “I congratulate our associates for continuing to deliver exceptional customer service.”

  • Watson sells Rugby OTC business to Harvard Drug Group for $117 million

    PARSIPPANY, N.J. — Watson Pharmaceuticals on Wednesday announced the sale of its Rugby over-the-counter business to the Harvard Drug Group — a distributor and provider of private-label OTCs and generic prescription products under the Major Pharmaceuticals brand — for approximately $117 million.  

    "I am confident that Major, with its leadership position as a marketer of OTC products, will be more strategically positioned to maximize the value of the long-known and respected Rugby name," stated Paul Bisaro, president and CEO of Watson.

  • Hain Celestial completes strategic acquisition in the UK

    MELVILLE, N.Y. – The Hain Celestial Group, a natural and organic products company, announced Monday the closing of the acquisition of Premier Food's portfolio of packaged grocery brands and its Histon manufacturing based in Cambridgeshire, United Kingdom.

    "This acquisition furthers our goal to expand in the United Kingdom, and positions the newly expanded Hain Daniels business in the top 40 of all food and beverage suppliers in the U.K.," said Irwin Simon, founder, president and CEO of Hain Celestial.

  • Bayer boosts One-A-Day supplement portfolio with Schiff acquisition to the tune of $1.2 billion

    MORRISTOWN, N.J. — Bayer HealthCare on Tuesday signed a merger agreement to acquire Schiff Nutrition International, and with that, prominent supplement brands Digestive Advantage, MegaRed, Move Free and Airborne. These four products accounted for 70% of all Schiff sales, noted Marijn Dekkers, Bayer CEO, during an analyst call Wednesday morning. "This acquisition will strengthen Bayer's leading OTC business and complement our existing nutritionals business with well-established strong brands," he said. 

  • Wall Street: Hurricane Sandy may have whipped up front-end sales prior to coming ashore

    NEW YORK — Hurricane Sandy may have shut down lower Manhattan for a few days, but research analyst Ed Kelly of Credit Suisse was bullish on how the storm system may have whipped up front-end sales for pharmacy operators. 

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