Financial News

MINNEAPOLIS — Despite an easy prior-year comparison, Target fell short of its December same-store sales guidance with a disappointing 0.9% gain.

The company forecasted December comps in the low to mid-single-digit range after it released November results, which saw comps advance 5.5%. Analysts were expecting the company to report a 4% December gain.

EL PASO, Texas — Helen of Troy Limited last month entered into a definitive merger agreement to acquire the business of Kaz for $260 million in cash, subject to certain closing working capital and other adjustments. Kaz manages the Vicks and Braun brand names under license from Procter & Gamble, Honeywell under license from Honeywell and its owned brands, Stinger, SoftHeat and Kaz. Kaz sales for the ensuing 12 months ending Dec. 31, 2011, are expected to exceed $400 million, Helen of Troy stated.

HAZELTON, Pa. — Troy Healthcare on Wednesday announced its purchase of the Stopain brand from DRJ Group and also stated that a new Stopain gel line extension will be shipping to stores in early 2011.

DEERFIELD, Ill. — Shortly after announcing a record-setting first quarter last month, Walgreens reported on Wednesday that its December sales rose 7.5% to $6.8 billion.

The chain said that Duane Reade stores, which Walgreens acquired in April 2010, contributed 2.5 percentage points.

Meanwhile, Walgreens also raked in a 9.5% increase for its total front-end sales, thanks to a spike in customer traffic and basket size. Pharmacy sales for the chain, which accounted for 58.6% of total sales for the month, saw a 6% boost.

CINCINNATI — Procter & Gamble has tapped actress Shay Mitchell to be the new spokeswoman for its Pantene Pro-V Nature Fusion collection.

ROGERS, Ark. — If the eyes are the window to the soul, then Walmart’s suppliers are the window to its future, thanks to the truly unique relationship the retailer enjoys with its trading partners. Walmart brought new meaning to the concept of collaboration when it pursued a strategy of data transparency decades ago that enabled fact-based decision-making. Suppliers embraced what, at the time, was a novel approach in the retail industry, and their support over the years facilitated Walmart’s expansion, sales growth for all concerned and low prices for consumers.


ALEXANDRIA, Va. — Lansinoh Labs on Wednesday announced its acquisition of the Italian-designed mOmma brand of baby-feeding products and accessories.

Terms of the deal were not released.

CAMP HILL, Pa. — Rite Aid brought the New Year in with a bang, recording monthly same-store sales increases across both the front end and back bench for the first time in almost two years.