Financial News

LAKELAND, Fla. — Publix reported sales for its 2017 first quarter were $8.69 billion, a 0.4% decrease compared to from last year’s $8.72 billion, while comparable-store sales for the first quarter of 2017 decreased 2.1%.

Sales for the first quarter of 2017 were negatively impacted by the Easter holiday being in the second quarter in 2017 versus the first quarter in 2016. The company estimates the timing of Easter affected sales by approximately 1.2 percent.

INDIANAPOLIS — Marsh Supermarkets will close all 37 of its Indiana in-store pharmacies during a three-day period beginning May 3, according to several media reports. All prescription information and inventory will be transferred to CVS Pharmacy.

Terms of the Marsh-CVS transaction were not disclosed.

GOODLETTSVILLE, Tenn. — The Federal Trade Commission approved the sale of 323 Dollar Express stores to Dollar General, reported Reuters. Private equity firm Sycamore Partners II currently owns the Dollar Express stores, which it bought in 2015 when Dollar Tree was forced to sell stores in 35 states as a condition of its acquisition of Family Dollar.

VARENNES, Quebec — The Jean Coutu Group on Thursday reported revenue increases of 11.7% to $579 million for the fourth quarter ended March 4.

"Our network's retail sales have grown significantly over the last 12 months," stated François Coutu, president and CEO, The Jean Coutu Group. "In the coming year, we will continue to implement our strategic plan and make every effort to continue our growth."

CAMP HILL, Pa. — Although Rite Aid affirmed it believes its acquisition by Walgreens Boots Alliance is in the “best interest of Rite Aid shareholders, customers and associates,” Chairman and CEO John Standley acknowledged “the extended duration of the merger process is having a negative impact on our results.

HOFFMAN STATES, Ill. — Sears Holdings will close 92 “underperforming” Kmart pharmacies, as part of its corporate restructuring program, the company announced.

ISSAQUAH, Wash. —  Costco declared a special cash dividend on Costco common stock of $7 per share, payable May 26, to shareholders of record at the close of business on May 10. The aggregate payment will be approximately $3.1 billion.

MINNEAPOLIS — The completed sale of Save-A-Lot and the announced acquisition of Unified Grocers should improve Supervalu’s balance sheet and lead to greater growth in the future, President and CEO Mark Gross said Tuesday during the company’s 2017 fiscal fourth-quarter earnings report.