Financial News

MEMPHIS, Tenn. — More than one prominent investor has recently approached Fred’s Pharmacy with the intention of investing money in the operator of 601 locations in 16 states, according to the New York Post.

The Post posits the cash infusion from one or more sources would help Fred’s pay for and successfully operate the 865 divested Rite Aid stores it pledged to purchase for $950 million, which is a likely a closing condition should the Federal Trade Commission approve the proposed $9.7 billion Walgreens Boots Alliance-Rite Aid merger.

MEMPHIS, TENN. — Fred’s Pharmacy recorded a net loss of approximately $22.5 million or $0.60 per share for its 2016 fiscal fourth quarter ended Jan.

DUBLIN, Ohio — Cardinal Health has entered into exclusive talks and is near a deal to buy Medtronic’s medical supplies unit for approximately $6 billion, according to several published reports. The Medtronic division sells syringes, surgical instruments and much more.

Cardinal Health's current medical products business has been a bright spot for the company, on track to reach mid- to high-single-digit revenue growth, reported Reuters.

MEMPHIS, Tenn. — Fred’s Pharmacy has set forth a major initiative intended to promote growth in 2017 in its front store, retail pharmacy and specialty operations, CEO Michael K. Bloom stated Thursday during the company’s 2016 fiscal fourth-quarter earnings conference call.

In the front store, Fred’s is expecting top-line growth, led by the rollout of beer and wine and a major upgrade to its cosmetics assortment.

ISSAQUAH, Wash. — Costco Wholesale reported net sales of $11.64 billion for the month of March — the five weeks ended April 2, 2017 — an increase of 9% from $10.71 billion during the similar period last year. This year’s total reflects one additional sales day due to the timing of Easter, which positively impacted net and comparable sales by an estimated 1% to 1.5%.

DEERFIELD, Ill. — Despite gains in prescription marketshare and comparable pharmacy sales across its U.S. base, Walgreens Boots Alliance missed analyst expectations, MarketWatch reported early Wednesday morning, precipitating a slight drop in Walgreens Boots Alliance shares in premarket trading.

GOODLETTSVILLE, Tenn. — Dollar General will acquire all 323 Dollar Express discount stores in 36 states from its owner, private equity firm Sycamore Partners, the company confirmed to several media outlets. Terms of the deal were not disclosed.

The Dollar Express stores, which still carry the Family Dollar moniker, will be rebranded to Dollar General. The 323 stores comprise most of the 330 stores sold to Sycamore in order to meet federal antitrust approval of Dollar Tree’s acquisition of Family Dollar in 2015. 

SAN FRANCISCO — McKesson on Monday completed its previously announced acquisition of CoverMyMeds for approximately $1.1 billion.