Financial News

AMITYVILLE, N.Y. — Net sales for Hi-Tech Pharmacal rose 27% for its second quarter ended Oct. 31, the drug maker said.

Safe and effective. Those are the selling points that homeopathy has been emphasizing with mass consumers, and it’s working. Sales of homeopathic products as measured by SPINSscan across food, drug and mass (excluding Walmart) were up 16%, reaching a sales base of $126.1 million. That’s 2.5 times larger than the natural channel, where consumers actually place the fact that a medicine is homeopathic higher up on their 
decision matrix.


Fragrance sales appear to be on the rise, and the outlook looks especially positive with the gifting season upon us.


According to a recent report by market research firm Mintel, drug store sales of fragrances are projected to grow by 1.1% in 2011 to reach $509 million — the first growth of this kind since the start of the recession.


NEW YORK — Pfizer completed its acquisition of a drug maker that focuses on the development of skin scarring treatments.

Pfizer said its acquisition of Excaliard Pharmaceuticals will allow the company to develop "new and innovative treatments to address unmet medical needs," noting that there currently is no excessive skin scarring treatment approved by the Food and Drug Administration.

MINNEAPOLIS — Target reported November same-store sales increased 1.8%, which was toward the low end of the company’s guidance that called for an increase in the low to mid single-digit range.

FAIRFIELD, Conn. — Stop & Shop has entered a definitive agreement to acquire three stores, located in Staten Island, N.Y., from supermarket chain King Kullen.

"Stop & Shop is looking forward to expanding our presence on Staten Island," said Don Sussman, division president of Stop & Shop's N.Y. metro division. "These new locations will offer more island customers the best combination of quality, convenience and value they have come to expect from Stop & Shop."

LONDON and ROTTERDAM, Netherlands — Unilever has completed the sale of one of its divisions to B&G Foods.

Unilever said its Culver Specialty Brands division — whose portfolio includes Mrs. Dash salt-free seasoning blends, Molly McButter flavored sprinkles, Sugar Twin sugar substitute, Baker’s Joy baking spray and Static Guard anti-static spray, all of which are sold in the United States and Canada — was sold to B&G Foods in an all-cash transaction valued at $325 million.

OMAHA, Neb. — ConAgra Foods has completed its acquisition of private-label pretzel maker National Pretzel, the company announced.

The company announced its agreement to acquire National Pretzel from Brookstone Holding on Nov. 11. Financial terms were not disclosed.

Lancaster, Pa.-based National Pretzel includes three bakeries located in Lancaster, Pa., Hanover, Pa., and Visalia, Calif. Additionally, more than 700 National Pretzel employees officially joined ConAgra as part of the transaction, the company said.