Financial News

DEERFIELD, Ill. — Walgreens on Wednesday sold its pharmacy benefit management business, Walgreens Health Initiatives, to Catalyst Health Solutions in a cash transaction for $525 million, subject to certain adjustments. The transaction is structured as an acquisition of all of the capital stock of WHI.

LAKELAND, Fla. — Publix's board of directors has approved an annual cash dividend of common stock, which will be payable and mailed June 1.

The 2011 dividend is 53 cents per share and will be paid to stockholders of record as of the close of business on Apr. 29.

Publix, based in Lakeland, Fla., operates more than 1,000 stores and had 2010 sales of $25.1 billion.

NEW YORK — Fourth-quarter net sales for Inter Parfums experienced a slight decline to $11.2 million, compared with $112.9 million in the year-ago period.

Sales from the company's European-based operations dropped to $95.5 million during the quarter, which ended Dec. 31, 2010, from $96.3 million during fourth quarter 2009. U.S. operations, however, increased 2%, bringing the sales total to $17 million.

PLEASANTON, Calif. — Safeway on Tuesday said that it expects to earn $1.60 to $1.80 per diluted share during the quarter, after the company's board approved a $1.1 billion dividend from Canada to the United States.

The dividend, Safeway said during its 2011 investor conference, will be used to pay off $600 million of U.S. debt, and the company will use the remainder of the dividend for share repurchases.

WASHINGTON — A popular Irish holiday may give retailers some luck.

CAMBRIDGE, Mass. — The board of directors of Genzyme unanimously recommended that shareholders accept French drug maker Sanofi-Aventis’ $74-per-share buyout offer, Genzyme said Monday.

Genzyme recently accepted Sanofi’s $20.1 billion offer for the Cambridge, Mass.-based biotech company. Sanofi had sought to buy the company since last July, when it offered $18.5 billion, or $69 per share.

American cuisine always has been influenced by the country’s diverse population. An expanding ethnic population and a proliferation of TV cooking shows have led to even greater interest in ethnic foods among American consumers.

Ethnic food sales are expected to increase 19% from 2010 to 2015, according to a recent report published by Mintel. The study revealed that 64% of U.S. households said that ethnic sauces, condiments and/or seasonings could be found in their kitchens.

As expected, the facial anti-aging segment continues to experience overall growth as women continue their quest for the fountain of youth in a bottle.

Such brands as Olay Regenerist Micro-Sculpting and Garnier Nutritioniste Ultra-Lift enjoyed strong growth as beauty mavens sought to banish fine lines and wrinkles.

Among such brands as Olay, L’Oréal and Neutrogena, Bio-Oil held its ground and saw an 18% sales boost for the 12 weeks ended Jan. 23, according to SymphonyIRI Group.