Financial News

MEMPHIS, Tenn. — Fred's Super Dollar on Wednesday reported a 1% increase in total sales, to $151.5 million, for the four weeks ended Nov. 30. Comparable-store sales for the month were flat versus a decline of 3.6% in the same period last year.

"The environment was as competitive as expected, and the later Thanksgiving holiday had a negative impact on sales," noted Bruce Efird, Fred's CEO. "As anticipated, our pharmacy department continued to perform well during the month," he said.  

CAMP HILL, Pa. — Rite Aid's same-store sales increased by 2.8% in November, the retail pharmacy chain said Thursday.

The increase included a 0.4% increase in front-end same-store sales and a 3.9% increase in pharmacy same-store sales, offset by 0.81% due to new generic drugs, which can reduce sales because of their lower price, but are good for a pharmacy retailer's margins. Same-store scripts increased by 0.1%.

Total sales for November were $2.434 billion, a 1.6% increase compared with the same period last year.

CINCINNATI — Kroger on Thursday reported that same-store supermarket sales growth, without fuel, was 3.5% in the third quarter, marking the 40th consecutive quarter of same-store sales growth. It's a feat that Kroger achieved despite the slow economic recovery. "The resiliency of our Customer First strategy … was on full display during the quarter, even as our internal research shows that customers remain uncertain about the economy," Dave Dillon, Kroger chairman and CEO, told analysts Thursday morning. 

NEW YORK — Sears Holdings chairman and CEO Eddie Lampert has pared down his stake in the retailing company, according to a regulatory filing Tuesday.

A Securities and Exchange Commission filing showed that Lampert reduced his stake in Sears Holdings to 48.4%, from a 55.4% stake reported in March. That leaves him with about 51.6 million shares in the company, whose stock was valued at $50.38 per share Wednesday morning on the NASDAQ, down from its opening price of $52.62.

DEERFIELD, Ill. — Walgreens on Wednesday reported November sales of $6.1 billion, an increase of 4.1% for the same month in fiscal 2013.

Total front-end sales increased 3.2%, while comparable store front-end sales increased 1.9%. Customer traffic in comparable stores increased 0.8% and basket size increased 1.1%.

The company said that a meaningful increase versus prior quarters in promotional investment contributed to the improvement in traffic and comparable store front-end sales for November and throughout the quarter.

CARLISLE, Pa. – Paula Price is stepping down as Ahold USA's EVP and CFO, the supermarket operator said Tuesday.

MALVERN, Pa. — Shionogi and Egalet have entered a deal worth up to $425 million for the development of abuse-deterrent opioid painkillers, Egalet said.

The deal centers on the development and potential commercialization of experimental drugs containing the opioid painkiller hydrocodone.

NEW YORK — Pfizer on Monday announced that a wholly-owned Polish subsidiary of Pfizer has acquired the rights to Polocard, a low-dose aspirin (acidum acetylsalicylicum), and the leading over-the-counter brand for heart attack prevention in Poland, from ZF Polpharma SA.