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Financial News

  • Fred's comps up 1.5% for month of November

    MEMPHIS, Tenn. — Fred's on Thursday reported sales of $152.1 million, up 4%, for the four-week fiscal month ended Nov. 26. Comparable store sales for the month rose 1.5% on top of an increase of 4.7% in the same period last year.

  • Costco comps up 6% at U.S. clubs

    ISSAQUAH, Wash. — The nation’s leading warehouse club operator maintained its momentum in November by posting a 6% increase in same-store sales at U.S. clubs, excluding the beneficial effect of higher year-over-year gas prices.

  • Kroger posts 32 consecutive quarters of comp sales gains; increases outlook for year

    CINCINNATI — Kroger posted its 32nd consecutive same-store sales gains as the grocer continues to grab market share due to a combination of a customer service initiative and value pricing.

  • Rite Aid comps increase 1.9% in November

    CAMP HILL, Pa. — Rite Aid's same-store sales increased by 1.9% in November, compared with the year-ago period, the company said Thursday.

    The country's third-largest retail pharmacy chain said front-end same-store sales decreased by 0.6%, while pharmacy same-store sales increased by 3.1%. Meanwhile, total drug store sales were $2.4 billion, a 1.4% increase over November 2010's $2.37 billion.

  • Safeway boosts stock buyback

    PLEASANTON, Calif. — The board of directors at Safeway announced that it has increased the authorized level of the company's stock repurchase program by $1 billion.

    With this boost, the program now totals $8 billion.

    Through the end of the third quarter 2011, Safeway had repurchased about $6.1 billion of its stock and had approximately $900 million remaining under its stock repurchase program, the retailer noted.

  • Tops reports Q3 results

    WILLIAMSVILLE, N.Y. — Regional supermarket chain Tops Markets reported a 3.6% increase in net sales for the period ended Oct. 8.

    Third-quarter net sales rose $18.7 million to $538.6 million, the retailer said. Supermarket sales (excluding gasoline sales) totaled $491 million, up $7.5 million, or 1.5%, compared with the year-ago period.

  • Fred's reports strong Q3 results

    MEMPHIS — Discount retailer Fred's realized positive third-quarter results, thanks to "strong customer traffic, higher gross margins in its general merchandise and pharmacy departments, as well as improved management of controllable operating costs," Fred's CEO Bruce Efird said.

    Total sales for the retailer rose 2% to $444.4 million, compared with the year-ago period, while comparable-store sales were flat. Net income increased 16% to $9 million, compared with last year, while earnings per diluted share rose 20% to 24 cents.

  • UnitedHealthcare acquires XLHealth

    MINNETONKA, Minn. — A UnitedHealth Group company announced its plans to acquire a sponsor of Medicare Advantage health plans in an all-cash transaction.

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