Top Retailers

NEW YORK — The Jean Coutu Group sold 72.5 million of its 178.4 million shares of Rite Aid stock, according to a Securities and Exchange Commission filing Monday and company announcement Tuesday.

The Canadian retail pharmacy group said it sold the shares for $158.5 million and would record a gain of $49.7 million in its net profit during first quarter 2014. The sale brings Jean Coutu's stake in Rite Aid down to 11.7%, the company said.

LAKELAND, Fla. — During its annual stockholders’ meeting today, Steve Knopik was elected to Publix Super Markets’ board of directors.

“We are pleased to have Steve join the Publix board,” said Publix chairman of the board Charlie Jenkins, Jr. “His strong retail and financial background and commitment to the community will make him a strong addition to our board.”

BENTONVILLE, Ark. — Sam's Club offered free oral care and health screening events at all 564 of its stores that have pharmacies, the club retailer said.

Sam's Club, owned by Walmart, said the events, which took place on Saturday, included non-invasive oral health questionnaires, dental tablets, glucose, total cholesterol, blood pressure, body-mass index and vision tests.

According to WebMD, oral health issues are often identifiers of diabetes and heart disease.

MINNEAPOLIS — Target Corp. has lowered its earnings expectations for first quarter 2013, the mass merchandise retailer said Tuesday.

The Minneapolis-based chain said it expected same-store sales growth in the quarter to be about flat over first quarter 2012 due to sales trends that have been weaker than expected, particularly in seasonal and weather-sensitive merchandise categories. As a result, earnings-per-share guidance is expected to be less than $1.10; the company's original guidance had stated earnings would be $1.10-$1.20 per share.

SAN BERNARDINO, Calif. — A former executive of Supervalu has been tapped for a top position at Stater Bros. Markets, the supermarket chain said.

Stater Bros. announced that former Supervalu EVP retail operations Peter Van Helden had been hired as president and COO of the privately owned San Bernardino, Calif.-based chain, which operates 167 stores in San Bernardino and Riverside counties.

NEW YORK — If Kmart has proven anything, it's the transcendental power of potty humor. But at any rate, the mass merchandise retailer has garnered significant attention with its "Ship My Pants" ad, which has received close to 7.4 million views on YouTube and coverage in news outlets nationwide.

The ad is for a service the chain offers whereby customers who can't find what they're looking for in the store can order it online and have it shipped to them.

NEW YORK — The University of Utah's College of Pharmacy has opened a new research organization designed to encourage collaboration and interaction, according to published reports.

The Salt Lake City-based Deseret News reported on the opening of the L.S. Skaggs Pharmacy Institute, a 150,000-sq.-ft. facility that includes open lab space.

CINCINNATI — Kroger announced today the company's committment to sourcing sustainable palm oil by the end of 2015 amid the growing popularity of vegetable oil and deforestation fears.

Kroger issued the following policy statement:

Palm oil has become the world's leading oil crop and today accounts for roughly one-third of the global vegetable oil production. This oil has grown in popularity within the food industry as a cooking oil, shortening, margarine, milk-fat replacer, and as a cocoa-butter substitute.