Financial News

EL SEGUNDO, Calif. — Tesco placed its U.S. supermarket business Fresh & Easy on the sales bloc Wednesday, in conjunction with an announcement that Fresh & Easy CEO Tim Mason has left the company. 

DEERFIELD, Ill. — Walgreens Wednesday morning reported November sales of $5.9 billion, a decrease of 3.9% versus the same period last year. Total front-end sales decreased 0.3% compared with the same month in fiscal 2012, while comparable store front-end sales were down 1.7%. Customer traffic in comparable stores was down 4.9% while basket size increased 3.2%.

However, registrations for Walgreens Balance Rewards loyalty program, which launched in September, totaled more than 38 million through November, denoting a strong start for the program. 

NEW YORK — Pfizer on Friday announced that it has completed the sale of its nutrition business to Nestlé for $11.9 billion in cash, following the conclusion of the required regulatory process in most markets. In certain countries where completion will be delayed due to ongoing regulatory review, Pfizer will continue to operate the business on an interim basis.

MINNEAPOLIS — Supervalu on Friday confirmed that a previously announced review of strategic alternatives is proceeding, sparking a slight run on the company's stock. As of early Monday afternoon, Supervalu was trading at $2.53 per share, up 6.3%. 

"The company continues to be in active discussion with several parties," Supervalu stated. 

The Wall Street Journal on Sunday reported that Cerberus Capital Management and Supervalu had been negotiating a potential acquisition deal through the weekend.

The greeting card category is shifting. Category giants American Greetings and Hallmark face the threat of competition from e-cards and are challenged by increased segmentation of the card category. Hallmark estimates that over the past decade, the number of greeting cards sold in the United States has dropped from 6 billion to 5 billion annually.


The Greeting Card Association reports that while greeting card unit sales have fluctuated over the past several years, the industry continues to generate annual revenues of $7 billion to $8 billion.


CINCINNATI — Kroger remained one of the few outperforming supermarket operators Thursday morning as the grocer exceeded analyst consensus adjusted earnings per diluted share by 3 cents with 46 cents per share. Actual reported net earnings were even higher — 60 cents per share — as Kroger benefitted from a settlement with Visa and MasterCard and from a reduction in the company's obligation to fund the UFCW consolidated pension fund created in January. 

Kroger shares were up 3.4% to $25.90 in late morning trading. 

It’s a marriage of industry icons. In June, Walgreens finally made a long-awaited leap across the Atlantic to acquire British-based Alliance Boots, one of the world’s premier retailers of pharmaceuticals, health and beauty aids, and beauty care products. 


When it comes to beauty — especially skin care and hair care — there’s no denying that African-Americans represent a tremendous opportunity for manufacturers and retailers.