Financial News

 CHESAPEAKE, Va. — Dollar Tree on Thursday posted consolidated net sales of $5.3 billion, representing an increase of 5.7%, for its second fiscal quarter ended July 29.

The average household spends $3,400 on packaged goods, but the average grocery banner only captures as much as 20% of that, according to a recent IRI report. “With the overall market not growing, retailers and manufacturers need to find new sources of growth by capturing a bigger piece of the existing pie,” wrote Web Fletcher, principal at IRI Shopper Analytics and lead author of IRI’s “Delivering Growth Through High-Value Customers” research, which was published in July.

“The formula for growth is simple. There’s really only three levers you can pull — find new buyers, get your buyers to spend more and/or raise prices,” said Chris Morley, president of fast-moving consumer goods, or FMCG, and retail at Nielsen. “But talk to most retailers and FMCG companies today, and they’ll tell you that growth is increasingly hard to find.”

Drug Store News recently spoke with Phillip Dritsas, SVP and general manager, consumer division and specialty markets for Mission Pharmacal, about the opportunities for Dr. Smith’s products in both the baby and adult categories.

DSN: Can you tell us more about trends in both ends of the baby and adult category?

AMITYVILLE, N.Y. — Skin care and hair care company Sundial Brands on Monday announced its debut on Black Enterprise Magazine’s BE 100s List as the tenth largest black-owned business in America. With a national reach of 35,000 major retailers, an increasing focus on its global strategy and a continual emphasis on new innovations, Sundial is also the only beauty and personal care manufacturer to make this year’s list. 

BOCA RATON, Fla. — Caret Pharma today announced it has entered into an agreement with Moberg Pharma to acquire the assets of Fiber Choice, a line of dietary supplements containing 100% natural, prebiotic fiber.

Fiber Choice will be marketed by IM HealthScience, a subsidiary of Caret Pharma’s parent company, Caret Group. It will join a growing digestive health product portfolio that already includes IBgard (for irritable bowel syndrome) and FDgard (for functional dyspepsia).

DUBLIN — Perrigo today announced that it has received final approval from the U.S. Food and Drug Administration for its store brand OTC equivalent of Nexium 24HR (esomeprazole magnesium) capsules.

GRAND RAPIDS, Mich. — Fresh off winning new private label business for military commissaries, SpartanNash noted that its robust own brands initiative is feeding an enthusiasm for its future earnings potential.

SpartanNash on Wednesday posted $1.9 billion in sales for the second-quarter ended July 15, representing an increase of 3.7%. The increase in net sales was driven by contributions from the Caito Foods Service acquisition and organic growth in the food distribution segment, the company stated.