Financial News

MEMPHIS, Tenn. — Fred’s Pharmacy posted its Q1 results Tuesday, and though the company swung to a roughly $36.5 million net loss, as its transformation continues, it’s seeing tangible results, particularly in pharmacy and front-end sales in renovated stores. The company also said that it is working with Rite Aid and Walgreens to bolster the case for the Federal Trade Commission to approve Walgreens’ acquisition of Rite Aid that, if approved, would make Fred’s the third-largest drug store chain in the United States

MEMPHIS, Tenn. — Fred’s on Thursday reported a 3.1% decline in total sales for the four-week fiscal month of May, which ended May 27, 2017, to $160.1 million. The decrease in sales is related to the closure of 39 underperforming stores in the first quarter, the company reported.

BOLINGBROOK, Ill. — Ulta Beauty came out of the first quarter starting gate strong, with earnings that easily topped Wall Street estimates and big increases in store and online sales. 

While online sales are growing at a fast pace, the beauty products and services retailer isn't slowing down its store growth. It said it will open 100 new stores in its current fiscal year.

HOFFMAN ESTATES, Ill. — Kmart’s comparable-store sales decreased 11.2% during the fiscal first quarter of 2017 versus the year-ago period, primarily driven by declines in the pharmacy, grocery and household, apparel and home categories.

As Drug Store News previously reported, parent company Sears Holdings is in the process of closing 92 underperforming pharmacy operations in certain Kmart stores. 

CHESAPEAKE, Va. — Dollar Tree's profit declined in the first quarter amid an impairment charge related to its divestiture to Dollar Express.

NEW YORK — CVS Health has a “very strong balance sheet” and will “look into opportunities” in the merger and acquisition space that can help the retailer become even more helpful to its clients, president and CEO Larry Merlo said Wednesday during the UBS Healthcare Conference at the Grand Hyatt here.

NEW YORK — Walgreens Boots Alliance needs to “rethink its approach and do something radically different” in the front end, EVP and CEO Stefano Pessina said Tuesday during a question-and-answer session at the UBS Global Healthcare Conference at the Grand Hyatt here.

NEW YORK — In honor of Red Nose Day on May 25, Alex Gourlay, co-chief operating officer, Walgreens Boots Alliance, will ring the closing bell at the Nasdaq MarketSite in Times Square.