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Target bounces back in Q2
MINNEAPOLIS — Target came roaring back in its second quarter from a year-long sales slump amid evidence that its investments in online and store remodels are paying off. The discounter raised its outlook for the year.
Sales rose 1.6% to $16.43 billion in the quarter ended July 29, beating analysts' estimates of $16.30 billion. Same-store sales rose 1.3%, also more than analysts had expected. Comparable digital sales surged 32%.
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CVS Pharmacy to acquire 20 Fagen Pharmacy locations
WOONSOCKET, R.I. — CVS Pharmacy will be acquiring 20 Fagen Pharmacy locations in northwest Indiana and northeast Illinois, the company announced Wednesday. Eight of the locations will be converted to CVS Pharmacy stores and 12 will be closed, with their files being transferred to nearby CVS Pharmacy locations.