Financial News

SAN BERNARDINO, Calif. — Second-quarter consolidated sales for regional supermarket chain Stater Bros. were up more than 3%, the company said.

Sales totaled $913.4 million for the period ended March 27, an increase of $27.9 million or 3.15%, compared with the year-ago period. Similarly, same-store sales also increased 3.15% or $27.9 million.

Stater Bros. also reported net income for the 13-week second quarter of $8.8 million, compared with net income of $6 million for second quarter 2010.

NEW YORK — Credit Suisse on Wednesday initiated coverage of General Nutrition Centers, the specialty retailer of supplement and nutritional products and partner with Rite Aid in a store-within-a-store program across more than 1,000 drug store locations.

BELLEVUE, Wash. — Drugstore.com on Tuesday announced the expiration of the waiting period under the U.S. Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended, with respect to the proposed merger by which the company would be acquired by Walgreens in a cash transaction.

The deal previously was announced on March 24.

LONDON and ROTTERDAM, Netherlands — Unilever has completed its $3.7 billion acquisition of Alberto Culver after obtaining the necessary regulatory clearances to do so, the companies jointly confirmed on Tuesday.

With the acquisition, Unilever becomes the world's leading company in hair conditioning, the second largest in shampoo and the third largest in styling. Alberto Culver generated annual sales in excess $1.6 billion in fiscal year 2010.

EL PASO — Helen of Troy Limited, a designer, developer and marketer of brand-name household and personal care consumer products, posted a boost in fiscal year revenues in its personal care segment, primarily reflecting its March 2010 acquisition of the Pert Plus and Sure brands.

For the fiscal year ended Feb. 28, net revenue in the personal care division increased 9.4% to $491 million, compared with $449 million in the year-ago period.

For the fourth quarter, the segment posted net revenue of $113 million, up 11%, compared with $102 million in the year-ago period.

WALTHAM, Mass. — Alkermes will buy Irish drug maker Elan’s drug formulation and manufacturing business for $960 million, the two companies said Monday.

Alkermes will buy Elan Drug Technologies and incorporate the combined company in Ireland, naming it Alkermes PLC. Alkermes said the acquisition would give it an edge in treating central nervous system disorders and expected to have diverse revenue streams from 25 commercialized drugs.

MELROSE PARK, Ill. — Alberto Culver, whose beauty brands include TreSemme, Alberto VO5, Nexxus, St. Ives, Simple and Noxzema, has announced that Unilever and the U.S. Department of Justice have reached an agreement that will enable Unilever to complete its proposed acquisition of Alberto Culver.

VENICE, Fla. — SinoFresh HealthCare on Friday announced that its board of directors has approved a 1-for-1,000 reverse stock split for its common stock only as part of a broad based plan to restructure the business.

The action effects shareholders of record as of May 20 and is effective on May 23, or as soon thereafter as FINRA, an independent securities regulator, has approved the action.