Skip to main content

Financial News

  • Fisk acquires Barielle brand

    NEW YORK — Fisk Industries, a manufacturer of niche-oriented cosmetics and health- and beauty-aid products, has acquired the Barielle line of nail, skin and foot care products.

    Financial terms of the deal were not disclosed.

  • Despite confidence in economy, survey finds consumers not spending more this Valentine's Day

    LOS ANGELES —  According to a PriceGrabber survey on consumer purchasing decisions for Valentine's Day, 52% of Valentine’s Day shoppers indicated that the economy will not have any effect on their purchasing decisions for Valentine’s Day 2011. Despite their confidence in the economy, 78% of survey respondents indicated they will not spend more money on Valentine’s Day shopping this year compared with last year. The remaining 22% of consumers plan to spend more on Valentine’s Day shopping this year.

  • Target hopes PFresh, savings program will drive sales

    MINNEAPOLIS — Target said that although its comparable-store sales were below expectations in the South and Northeast, the company believes overall sales will be driven by two of its recent initiatives.

    Target chairman, president and CEO, Gregg Steinhafel, said that while the company "expects the economy to remain challenging, Target's PFresh remodel program and REDcard Rewards 5% savings program continue to operate in line with expectations."

  • Kinray acquisition drives Cardinal Health's Q2

    DUBLIN, Ohio — Second-quarter revenue for Cardinal Health rose 2%, thanks in part to its acquisition of pharmaceutical distributor Kinray.

    Revenue for the quarter ended Dec. 31, 2010, totaled $25.4 billion, compared with the prior-year period. Similarly, Cardinal Health's earnings per share from continuing operations jumped 21% to 69 cents.

  • BJ’s Wholesale placed on sales block

    WESTBOROUGH, Mass. — After months of speculation, BJ's Wholesale Club early Thursday morning confirmed the company has decided to explore and evaluate strategic alternatives. Coupled with that announcement was a positive sales story for the year.

  • Fred’s falls short of January expectations

    MEMPHIS — Fred's on Wednesday reported a fiscal 2010 sales increase of 3% to $1.8 billion for the year ended Jan. 29. Comparable sales were up 2.2%, versus an increase of 0.4% in the prior year.

    January comp increases of 2.1%, however, fell well short of the 3.9% analyst consensus tallied by Thomson Reuters, a factor that may have had more influence in driving the company’s stock down 37 cents to $13.31 on Wednesday’s trading. Winter weather played a role in those not-as-good-as-expected results, the retailer reported.

  • Merlo puts stamp on his leadership in fourth-quarter earnings call

    WOONSOCKET, R.I. — What will define success for CVS Caremark in the years ahead? If you ask incoming CEO Larry Merlo, it all comes down to three things: flawless execution, cross-functional thinking and management, and enhancing value. Not coincidentally, those are three key reasons Merlo inherited the top spot at the company.

  • Walgreens brings in new year with larger marketbasket

    DEERFIELD, Ill. — Walgreens on Thursday posted January sales of $5.9 billion, representing an increase of 11.3% from last year. Early morning trading of Walgreens stock was up 51 cents to $42.48.

    Only 2.8 percentage points of that increase can be attributed to the acquisition of Duane Reade, the Deerfield, Ill.-based retailer stated. Total front-end sales increased 11.5% in January, and pharmacy sales increased 10.8%, accounting for 66.1% of total sales for the month.

X
This ad will auto-close in 10 seconds