Financial News

CHARLOTTE, N.C. — Regional supermarket chain Harris Teeter announced that its board of directots has declared a quarterly dividend of 14 cents per share.

The dividend is to be paid on July 1 to shareholders of record on June 8.

BENTONVILLE, Ark. — First-quarter profits at Walmart exceeded analysts’ estimates as same-store sales increased 2.6% and the company said its strategy of low prices on a broad merchandise assortment is resonating again with shoppers.

IRVINGTON, N.Y. — Prestige Brands closed out its fiscal 2012 ended March 31 on a high note with $441.1 million in revenues for the year, up 31.1%. And fiscal 2013 is looking promising as the company will have full-year contributions from its 17 acquired over-the-counter brands from GlaxoSmithKline.

IRVINGTON, N.Y. — Prestige Brands on Thursday morning announced the launch of Dramamine for Kids, noting that 34% of households (with children between the ages of 2 years and 12 years) have a child with motion sickness. According to the company, it is estimated that one-third of moms currently are using a Dramamine adult formula but would prefer a pediatric product.

Marshal Cohen, chief industry analyst at the NPD Group said that back-to-college has become a big opportunity for retailers, and everybody wants part of the business. Last year, families spent an average of $800 on back-to-college products.


In contrast to the most recent cough-cold season, which was characterized by a relative lack of upper respiratory illnesses, pharmacy shoppers with itchy eyes, runny noses and audible sneezes have been back in force this spring in search of allergy relief. And those patients are gravitating toward the OTC aisle for their seasonal allergy needs now that the last of the second-generation antihistamines was made available without a prescription a year ago. 


MINNEAPOLIS — First-quarter earnings at Target exceeded a profit forecast the company increased last month after a strong start to the quarter.

Sales increased 6.1% to $16.5 billion and same-store sales advanced 5.3%. The sales momentum, combined with rigid expense control, enabled the company to report first-quarter earnings per share of $1.04, which exceeded a guidance range that had been increased to 96 cents to $1.02 from 88 cents to 98 cents in early April, following better-than-expected same-store sales during the first two months of the quarter.

DUBLIN, Ohio — Cardinal Health has acquired regional wholesaler Dik Drug for an undisclosed price, according to published reports.

Dik Drug was founded in 1914 as a small repackaging distributorship that serviced the Chicago area. According to the company's website, Dik Drug warehouses more than 20,000 products.