Skip to main content

Financial News

  • Fred's misses analyst expectations, points to aggressive pharmacy expansion as future growth driver

    MEMPHIS, Tenn. — The consumer's wallet isn't the only headwind blowing out of a still-struggling economy. Higher operating costs have also helped to undercut Fred's Super Dollar performance in the past year, Fred's CEO Bruce Efird explained to analysts Thursday morning.

  • Giant-Carlisle collects $587,545 for hunger relief in late February, early March

    CARLISLE, Pa. — Ahold USA's Giant-Carlisle banner raised nearly $600,000 for a hunger relief program in February and March, the supermarket chain said.

    Giant-Carlisle said customers at Giant Food Stores and Martin's Food Markets donated $587,545 as part of the Bag Hunger campaign between Feb. 24 and March 9. Another campaign will take place in September.

  • ABC divests Canadian distribution arm to Kohl & Frisch

    VALLEY FORGE, Pa. — AmerisourceBergen on Thursday announced that it has divested its Canadian pharmaceutical distribution business, AmerisourceBergen Canada Corporation, to Kohl & Frisch Limited, a Canadian-owned national full-line distributor. ABCC represented approximately 2% of AmerisourceBergen’s total revenues.

  • Weis Markets promotes Paul Stombaugh to VP/corporate controller

    SUNBURY, Pa. — Weis Markets on Thursday promoted Paul Stombaugh to VP/corporate controller. 

    Stombaugh will take on an expanded role in the company’s decision support and its strategic development. He also will continue to oversee its financial accounting and reporting functions, internal controls, treasury and budgets, Weis reported. He will continue to report to Scott Frost, SVP and CFO.

  • Ahold completes sale of ICA stake

    AMSTERDAM — Dutch supermarket operator Royal Ahold has completed the sale of its majority stake in a Scandinavian supermarket chain, the company said Wednesday.

    Ahold announced that it had completed the sale of its 60% stake in ICA to Swedish firm Hakon Invest for $3.3 billion. The deal was announced Feb. 11.

    Based in Sweden, ICA operates the ICA and Rimi chains in Scandinavia and the Baltics.

     

  • Rite Aid supports 'Epic'-themed fundraising campaign

    CAMP HILL, Pa. — Rite Aid is tying in its fundraising efforts for Children's Miracle Network Hospitals with an upcoming children's movie.

    The retail pharmacy chain announced it would kick off its 19th annual campaign for the group tied in with "Epic," the 20th Century Fox Films movie that will be in theaters starting May 24. The animated movie tells the story of a teenage girl who is magically shrunk to meet a group of warriors who protect the natural world.

  • Meijer launches Simply Give donation campaign

    GRAND RAPIDS, Mich. — Meijer will fund local food pantries by doubling every customer's $10 donation next month, the mass-merchandise retailer said.

    As part of the spring "Simply Give" campaign, the company will double donations made April 12-13 to restock shelves of pantries that were depleted during the holidays. Meijer said customers have donated nearly $5 million — equal to 30 million meals — since November 2008.

  • Martin's donated more than $2.2 million to Va. charities in 2012

    CARLISLE, Pa. — Martin's Food Markets donated more than $2.2 million in the Richmond and Williamsburg, Va., areas in 2012 as part of its "Living Here, Giving Here" charitable program, the supermarket chain said.

    Martin's, part of Ahold USA's Giant-Carlisle chain, said the donations broke a record. The money will go to hunger-relief, animal welfare and poverty relief groups, schools, the United Way, USO of Hampton Roads and Northern Virginia and others.

X
This ad will auto-close in 10 seconds