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Financial News

Financial news and information in retail pharmacies.

Survey: Online shopping to dominate holiday season

According to a survey from RetailMeNot, 66% of respondents said they plan to spend the same amount of money or more during the holiday season in order to create a sense of normalcy and keep traditions alive.

Rite Aid beats expectations in Q2

With revenue of $5.98 billion and a significantly narrowed net loss compared with the prior year's second quarter, Rite Aid posted solid fiscal Q2 results driven by strong growth in retail pharmacy and pharmacy services.

Costco Wholesale ended its fiscal year on a strong note as consumers continued to shop its stores to stock up on items amid the pandemic.

A new shopper survey from Mercatus and Incisiv expects sales of groceries online to account for 21.5% of total grocery sales by 2025, an estimate of $250 billion.

Consumer spending slowed in August as some federal relief measures, including the $600 weekly unemployment subsidy, ended in July, according to a new report by the National Retail Federation.

Kroger’s net income totaled $819 million, sales rose to $30.49 billion from $28.17 billion last year, and digital sales doubled up 127%.

About nine out of 10 consumers trust private brands as much as they do national brands, according to a new report from Daymon.  The company's 2020 Private Brand Intelligence Report, “The Future of Private Brands,” also found that 86% of U.S.

Edgewell Personal Care announced the closing of its previously announced acquisition of Cremo.

Dollar General reported a Q2 net sales increase of 24% to $8.7 billion from $7 billion and promoted Kathy Reardon to executive vice president and chief people officer.

Walmart sees e-commerce and advertising potential in TikTok and has reportedly sought to partner with Microsoft in a purchase.

Dollar Tree revenue increased 9.4% in the second quarter ended Aug. 1, reaching $6.28 billion, and same-store sales increased by 7.2%.

For its second quarter, Target posted skyrocketing profits and strong quarterly same-store sales growth amid digital and store growth.

Walmart’s total revenue rose 5.6% to $137.74 billion, and same-store sales rose 9.3% with general merchandise and food leading the way.

For the second month in a row, retail sales nationwide saw an increase over the previous month, but the month-over-month increases have been slowing down since May.

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