Financial News

MINNEAPOLIS — Target is offering free credit monitoring for a year for customers who shop at its stores, the mass merchandise retailer said Monday.

Target said it had contracted with ProtectMyID, a division of Experian, which will offer daily credit monitoring, identity theft insurance and access to assistance from fraud resolution agents, as well as a complimentary credit report. Customers have until April 23 to request an activation code, and then until April 30 to register for credit monitoring through ProtectMyID.

MINNEAPOLIS — Customers' mailing addresses, names, phone numbers and email addresses were among the data stolen as part of a massive breach of payment card data at Target, the mass merchandise retailer said Friday.

Target said the information stolen, affecting as many as 70 million people, was not a new breach, but was uncovered as part of the investigation of the original breach, which took place between Nov. 27 and Dec. 15 and resulted in the theft of payment card data from about 40 million customers.

HOFFMAN ESTATES, Ill. — Kmart's same-store sales have taken a tumble this quarter as its parent company says it is continuing to focus on transforming itself into a retailer focused on members of its loyalty card program.

DEERFIELD, Ill. — The board of directors of Walgreens on Thursday declared a regular quarterly dividend of 31.5 cents per share, a 14.5% increase over the year-ago dividend. 

The dividend is payable March 12, 2014, to shareholders of record on Feb. 18, 2014.

Walgreens has paid a dividend in 325 straight quarters (more than 81 years) and has raised its dividend for 38 consecutive years. Over the last five years, Walgreens annual dividend rate has increased from 45 cents per share to $1.26 per share, resulting in a compound annual growth rate of nearly 23%.

MINNEAPOLIS — While Save-A-Lot is still the jewel in the crown of Supervalu, the chain has committed to investing into its retail supermarket banners with a makeover for all of the banners, a review of the planograms within those banners and private label. 

NEW YORK — Forest Labs will buy privately owned drug maker Aptalis for $2.9 billion, Forest said Thursday.

Aptalis specializes in making drugs for gastrointestinal disorders and cystic fibrosis, with sales of $688 million in fiscal year 2013. More than 60% of its sales come from the ulcer treatment Carafate (sucralfate), the inflammatory bowel disease treatment Canasa (melamine) and the cystic fibrosis drug Zenpep (pancrelipase).

ISSAQUAH, Wash. – Costco Wholesale Corp.'s sales increased by 6% in the month of December and the first few days of January compared with December 2012, the club retailer said Thursday.

The Issaquah, Wash.-based company reported sales of $11.53 billion during the five weeks that ended Sunday, compared with $10.87 billion during the same period last year. Comps increased by 5% at the company's U.S. stores.

MATTHEWS, N.C. — Family Dollar reported sales of $2.5 billion in first quarter 2014, a 3.2% increase over the same period last year, the dollar store chain said Thursday.

For the 13-week quarter that ended Nov. 30, the chain said sales were strongest in refrigerated and frozen food, health aids and tobacco. Same-store sales during the quarter decreased by 2.8% due to fewer customer transactions and a slight decrease in average customer transaction value.