Financial News

The retailer said it now expects 2017 will be the fourth consecutive year in which its digital sales grow more than 25%.

It has been announced that Lactalis, a dairy company whose brand of products includes Galbani, Parmalat and Stonyfield Farm among others has acquired Siggi’s for an undisclosed amount.

Icelandic style skyr yogurts company, siggi’s will continue to operate out of its New York City office and remain as a standalone company under its current leadership team, which includes its founder and CEO Siggi Hilmarsson and Bart Adlam as president.

As good as Walgreens performed behind the back bench this past quarter, the company’s continued focus on enhancing its beauty offerings is expected to lead improvements across the front-end as Walgreens plans to amalgamate the many store format pilots it has been testing into one of many yet-to-be-identified stores.

Walgreens kicks off its new fiscal with a mixed set of results. Overall sales are strong, aided by the integration of 375 Rite Aid stores and a robust performance from the U.S. retail pharmacy division. This growth was sufficient to make up for the slightly disappointing numbers from the international group, where same-store sales fell by 0.7%. Meanwhile, impairments in investments and an equity loss from earnings in AmerisourceBergen helped pushed down net income by 23%.

Although there has been an uptick in e-commerce when it comes to pet owners, many prefer to purchase products such as food for their four-legged family members from brick-and-mortar locations like PetSmart and Petco.

Independent African-American owned Essence Ventures has announced the acquisition of the multi-platform media company Essence Communications from Time.

The New York City-based company’s current president, Michelle Ebanks will continue at the helm of the company and join its board of directors. In addition, the all Black female executive team of Essence including Ebanks will have an equity stake in the business.

Cargill, a national supplier of animal feed in the agricultural retail space has announced an agreement to acquire pet food company, Pro-Pet.

Saint Mary’s, Ohio-based Pro-Pet is a private label and co-manufactured pet food brand whose portfolio of products includes the Black Gold label of dog food. This latest acquisition will make Minneapolis-based Cargill the only national supplier of animal feed and pet food offerings, the company said.