Financial News

DEERFIELD, Ill. — Walgreens on Thursday posted April sales of $5.8 billion, a decrease of 3.7% as compared with the same month in fiscal year 2011.

MINNEAPOLIS — April same-store sales at Target increased 1.1% and helped the company achieve a 5.3% first-quarter comps increase that was the highest in six years. How much of the performance was due to record warm weather versus good execution of a solid strategy against the back drop of an improved economy is debatable.

MEMPHIS, Tenn. — Fred's on Thursday reported total sales of $141.8 million for the five weeks ended April 28, up 4% from the year-ago period. Comparable-store sales for the month declined 0.3%, compared with an increase of 1.8% in the same period last year.

SALISBURY, N.C. — Delhaize America, the U.S. division of Delhaize Group, reported a decline in its underlying profit declined due to a decrease in gross margin resulting from price investments, as well as the impact of closed stores, as part of the company's portfolio optimization.

Revenues for the first quarter slid 1.2% to $4.6 billion, the company said, noting that when excluding the impact from the 126 stores the company closed in February, total U.S. revenues instead increased 0.7%. Comparable-store sales evolution declined 0.6%, the company said.

MINNEAPOLIS — Supervalu announced that its board of directors declared a quarterly dividend of 8.75 cents per share.

The dividend is payable on June 15 to stockholders of record as of the close of business on June 1. As of April 27, there were approximately 214 million shares outstanding, Supervalu said.

WOONSOCKET, R.I. — CVS Caremark president and CEO Larry Merlo told analysts Wednesday morning that he was “very pleased” with the company's first quarter, as results across both the retail and pharmacy benefit management segments came in at the high end of expectations, and its integrated assets continue to demonstrate success and improve patient lives.

BASEL, Switzerland — Novartis' generics division has acquired Fougera Pharmaceuticals, the company said Wednesday.

Sandoz announced the acquisition of Melville, N.Y.-based Fougera for $1.525 billion in cash. Fougera specializes in generic dermatology drugs, and Sandoz said the acquisition would make it the world's largest company in the space.

HOFFMAN ESTATES, Ill. — Sears Holdings, the parent company of Kmart, expects to make a profit of between $155 million and $195 million in first quarter 2012, compared with a $165 million loss in first quarter 2011, the company said Tuesday.

In a statement released in advance of its annual shareholders meeting Wednesday, Sears Holdings said the profit includes $235 million from the sales of stores in the United States and Canada, which generated $440 million of cash proceeds.