Financial News

HOFFMAN ESTATES, Ill. — Sears Holdings, the parent company of Kmart, expects to make a profit of between $155 million and $195 million in first quarter 2012, compared with a $165 million loss in first quarter 2011, the company said Tuesday.

In a statement released in advance of its annual shareholders meeting Wednesday, Sears Holdings said the profit includes $235 million from the sales of stores in the United States and Canada, which generated $440 million of cash proceeds.

ASHEVILLE, N.C. — Net sales for Ingles Markets experienced a spike during the second quarter and first half of fiscal year 2012, the retailer reported Monday.

For the second quarter ended March 24, Ingles Markets said net sales rose $11.3 million to $881.7 million, compared with the year-ago period, while net income dropped from $7.7 million in second quarter 2011 to $6.5 million in second quarter 2012. Excluding gasoline sales, comparable-store sales at Ingles Markets during the quarter decreased 0.1%, compared with the second quarter of the prior fiscal year.

SAN FRANCISCO — McKesson reported strong fourth-quarter and full-year results, thanks to gains across several of the company's business segments.

Revenues for the fourth quarter ended March 31 were up 10% to $31.7 billion, compared with the year-ago period, while earnings per diluted share were $2.09, up from $1.62 in the same period last year. For fiscal year 2012, McKesson had revenues of $122.7 billion, up nearly 9.5% from fiscal year 2011. Full-year earnings per diluted share from continuing operations totaled $5.59, up 30% from the prior year.

ST. PETERSBURG, Fla. — Catalina Marketing has boosted its portfolio by acquiring a mobile commerce solutions provider.

The company said the integration of Modiv Media into its business will give brands and retailers the ability to engage shoppers, influence their behavior and boost loyalty with a unique mobile experience that saves shoppers time and money.

SUNBURY, Pa. — Weis Markets on Thursday announced it will invest $125 million in its 2012 growth program, a 25% increase compared with 2011.

"Our budget includes two new stores and 18 major remodels," Weis Markets vice chairman Jonathan Weis said. "In addition, we expect to soon complete the purchase of three Genuardi's units near Philadelphia which we hope to reopen later this summer."

CHICAGO — Groupon on Friday named Kal Raman to the role of SVP Americas.

Raman will oversee the company’s operations across 10 countries in North, Latin and South Americas and will be based in Groupon’s corporate headquarters in Chicago.

IRVINGTON, N.Y. — Prestige Brands on Thursday reiterated its rebuke of a buyout offer from Mexican healthcare supplier Genomma Lab Internacional following Genomma's release of a proposal presentation.

CINCINNATI — Procter & Gamble on Friday announced a decrease in third-quarter profit, as sales rose 2%.

Net sales during the quarter rose 2% to $20.2 billion. Organic sales rose 3%.

Net earnings totaled $2.41 billion, or 82 cents per diluted share, compared with $2.87 billion, or 96 cents per diluted share, in the year-ago period.

In the company’s beauty segment, net sales rose 1% to $4.8 billion on unit volume growth of 1%. Organic sales grew 2%. Net earnings rose 3% to $523 million.