Financial News

DEERFIELD, Ill. — Walgreens on Thursday posted April sales of $5.8 billion, a decrease of 3.7% as compared with the same month in fiscal year 2011.

MINNEAPOLIS — April same-store sales at Target increased 1.1% and helped the company achieve a 5.3% first-quarter comps increase that was the highest in six years. How much of the performance was due to record warm weather versus good execution of a solid strategy against the back drop of an improved economy is debatable.

MEMPHIS, Tenn. — Fred's on Thursday reported total sales of $141.8 million for the five weeks ended April 28, up 4% from the year-ago period. Comparable-store sales for the month declined 0.3%, compared with an increase of 1.8% in the same period last year.

SALISBURY, N.C. — Delhaize America, the U.S. division of Delhaize Group, reported a decline in its underlying profit declined due to a decrease in gross margin resulting from price investments, as well as the impact of closed stores, as part of the company's portfolio optimization.

Revenues for the first quarter slid 1.2% to $4.6 billion, the company said, noting that when excluding the impact from the 126 stores the company closed in February, total U.S. revenues instead increased 0.7%. Comparable-store sales evolution declined 0.6%, the company said.

MINNEAPOLIS — Supervalu announced that its board of directors declared a quarterly dividend of 8.75 cents per share.

The dividend is payable on June 15 to stockholders of record as of the close of business on June 1. As of April 27, there were approximately 214 million shares outstanding, Supervalu said.

CAMP HILL, Pa. — Rite Aid reported a 2.9% increase in same-store sales for the month of April, the company said in a monthly sales report Thursday.

The boost included a 2.7% increase in front-end comps and a 3% increase in pharmacy comps, as well as a 3.8% increase in script count. Total drug store sales for the period, which ended Saturday, were nearly $2 billion, a 2.5% increase over the $1.95 billion reported in April 2011.

DUBLIN, Ohio — The recent loss of business from a key specialty pharmacy customer and the continued deluge of generic introductions will represent significant challenges for Cardinal Health in fiscal year 2013 as it approaches the year-end of its fiscal 2012, company executives told analysts during a conference call Thursday morning.

BASEL, Switzerland — Novartis' generics division has acquired Fougera Pharmaceuticals, the company said Wednesday.

Sandoz announced the acquisition of Melville, N.Y.-based Fougera for $1.525 billion in cash. Fougera specializes in generic dermatology drugs, and Sandoz said the acquisition would make it the world's largest company in the space.