In a resounding declaration that its massive revitalization efforts have been the right strategy at the right time, Walgreens on Wednesday reported its net earnings jumped to a record $580 million in first quarter fiscal 2011, rising nearly 19% over prior-year levels. Sales for the period ended Nov. 30 also rose 6% to $17.3 billion, another record for the nation’s top drug retailer.
Boosted by a very weak comparison period, ShopperTrak’s National Retail Sales Estimate reported that total GAFO retail sales for the last Saturday before Christmas (Dec. 18), or "Super Saturday," increased a sharp 15.1%, compared with last year.
What Rite Aid might wish for Christmas is accelerated results borne from its Wellness+ loyalty card program, because even as the chain lowered its guidance for fiscal 2011 sales, it’s that differentiated loyalty program that executives believe is going to buttress sales next year and beyond.
Supplier News — Fera Pharmaceuticals has recently launched two new topical ointments. The New York-based company has developed Ilotycin (erythromycin) and Garamycin (gentamicin) ophthalmic ointments, both for the treatment of bacterial infections of the eye. “Our goal is simple: to keep more quality healthcare choices alive for the people who need them,” company co-founder Frank DellaFera said.