Financial News

NEW YORK — Private equity firms Berkshire Partners and Rhone have made minority equity investments in Coty, with each of the investors being represented on the company's board of directors.

Terms of the transactions were not disclosed.

CAMP HILL, Pa. — Rite Aid on Thursday morning posted a same-store sales increase of 1.1% for the four weeks ended Jan. 22, including a 2.2% lift across the front-end and growth of 0.6% in pharmacy comparable sales.

Prescription count at comparable stores was flat compared with the prior-year period.

Total drug store sales were $1.9 billion, which is flat as compared with the same period last year. Prescription revenue accounted for 69.1% of drug store sales, and third-party prescription revenue represented 93.3% of pharmacy sales.

BASEL, Switzerland — Swiss drug maker Novartis posted sales of $14.2 billion for fourth quarter 2010 and $50.6 billion for the year as a whole, according to an earnings report released Thursday.

That compared with sales of $12.9 billion and $44.3 billion during fourth quarter 2009 and 2009 as a whole, respectively. Profits for the year were nearly $10 billion, an 18% increase from $8.4 billion in 2009, though profits for the quarter decreased by 2%, from fourth quarter 2009’s $2.32 billion to $2.27 billion in fourth quarter 2010.

NEW YORK — Colgate-Palmolive, which posted a dip in North American sales during the fourth quarter, experienced share gains in oral care and has outlined new product launches planned for 2011.

North American sales declined 2% during the fourth quarter as unit volume increased 1.5% with 4% lower pricing and 0.5% positive foreign exchange. Organic sales slipped 2.5%. North America operating profit decreased 8% during the quarter, driven by increased promotional investments and higher material costs, partially offset by cost-savings initiatives.

TORONTO — The abrupt departure of Shoppers Drug Mart president and CEO Jürgen Schreiber announced Wednesday is expected to negatively impact the company’s stock — many investors bought into Shoppers on the faith that retail maven Schreiber would return Canada’s largest drug retailer to consistent quarter-over-quarter growth.

CINCINNATI — Procter & Gamble announced on Thursday that second-quarter sales rose 2% as the company works to expand market shares in more parts of the world.

Net sales for the quarter rose 2% to $21.3 billion, driven by 6% volume growth, which was offset partially by unfavorable foreign exchange and mix impacts. Organic sales grew 3%.

Net earnings dropped 28% to $3.3 billion, or $1.11 per diluted share, compared with $4.7 billion, or $1.49 per diluted share, in the year-ago period. Net earnings from continuing operations totaled $1.11 per share, up 10%.

WASHINGTON — Retailers should expect a boost in sales this Valentine's Day, as total spending is projected to reach $15.7 billion among consumers ages 18 years and older, according to the National Retail Federation.

The average person's total spend this Valentine's Day will be about $116.21, up 11% over last year’s $103.

SAN DIEGO — Amylin Pharmaceuticals continued to experience losses in sales and profits during fourth quarter 2010 and for the year as a whole, but losses were lower than in 2009, according to financial results released by the drug maker Wednesday.