Financial News

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.

NEW BRUNSWICK, N.J. — Johnson & Johnson's sales increased by 8.5% to $17.5 billion in first quarter 2013, the healthcare products company said Tuesday.

The increase included a domestic sales increase of 11.2%. Profits for the quarter were $3.5 billion.

MINNEAPOLIS — Target has accepted for purchase $760.7 million worth of debt as part of a $1.1 billion debt-refinancing plan announced last month, the mass merchandiser said.

The company announced plans in mid-March to purchase up to more than $1.1 billion worth of debt securities and will pay close to the full amount for those accepted for purchase.

The offer to purchase the debt from the people holding it expired Wednesday night at 11:59, the company said.

ISSAQUAH, Wash. — Club retailer Costco Wholesale announced Thursday sales grew by 7% in March compared with March 2012, the company said.

Costco reported net sales for the month of $9.67 billion, compared with $9.07 billion during the same period last year.

For the 31-week period that ended on Sunday, sales were $61.02 billion, an 8% increase over the same period last year, when sales were $56.34 billion.

The Issaquah, Wash.-based chain currently operates 626 stores, including 449 in the United States.

CAMP HILL, Pa. — Rite Aid's profits grew in fourth quarter and fiscal year 2013 amid stronger front-end sales and prescription count, the retail pharmacy chain said Thursday.

MEMPHIS, Tenn. — Fred's Super Dollar on Thursday reported total sales of $190.4 million for the five weeks ended April 6, down 2% from the comparable year-ago period. 

Comparable store sales for the month decreased 3% compared with flat store sales in the same period last year.

DEERFIELD, Ill. — The board of directors at Walgreens on Wednesday declared a regular quarterly dividend of 27.5 cents per share, a 22.2% increase over the year ago dividend. The dividend is payable June 12, 2013, to shareholders of record May 21, 2013.

Walgreens has paid a dividend in 322 straight quarters (more than 80 years) and has raised its dividend for 37 consecutive years. Over the last five years, Walgreens annual dividend rate has increased from 38 cents per share to $1.10 per share, resulting in a compound annual growth rate of nearly 24%.

ROCKVILLE, Md. — According to a recent analysis by Packaged Facts, a MarketResearch.com division, U.S. retail sales of yogurt will approach $9.3 billion by 2017, up from $7.3 billion in 2012, with Greek yogurt brands being the major catalyst for these significant increases.