Financial News

CINCINNATI — Kroger on Thursday reported net earnings of $303 million, or $0.32 per diluted share, and a decline in identical supermarket sales , without fuel, of 0.2% in the first quarter of 2017.

Protein bars have been flying off the shelves in mass outlets lately. Sales of nutritional bars were up 3.4% to $2.4 billion for the 52 weeks ended April 16, according to IRI across total U.S. multi-outlets.

Supplements are providing the perfect complement to drug store retailers’ bottom lines. Including meal replacement bars, energy shots, protein shakes and diet aids, sales of dietary supplements and nutrition-packed products across the supplement aisle continued to grow at a healthy 4.7% clip with more than $13.4 billion in sales across total U.S. multi-outlets for the 52 weeks ended April 16, according to the latest IRI data.

MEMPHIS, Tenn. — Fred’s Pharmacy posted its Q1 results Tuesday, and though the company swung to a roughly $36.5 million net loss, as its transformation continues, it’s seeing tangible results, particularly in pharmacy and front-end sales in renovated stores. The company also said that it is working with Rite Aid and Walgreens to bolster the case for the Federal Trade Commission to approve Walgreens’ acquisition of Rite Aid that, if approved, would make Fred’s the third-largest drug store chain in the United States

MEMPHIS, Tenn. — Fred’s on Thursday reported a 3.1% decline in total sales for the four-week fiscal month of May, which ended May 27, 2017, to $160.1 million. The decrease in sales is related to the closure of 39 underperforming stores in the first quarter, the company reported.

BOLINGBROOK, Ill. — Ulta Beauty came out of the first quarter starting gate strong, with earnings that easily topped Wall Street estimates and big increases in store and online sales. 

While online sales are growing at a fast pace, the beauty products and services retailer isn't slowing down its store growth. It said it will open 100 new stores in its current fiscal year.

HOFFMAN ESTATES, Ill. — Kmart’s comparable-store sales decreased 11.2% during the fiscal first quarter of 2017 versus the year-ago period, primarily driven by declines in the pharmacy, grocery and household, apparel and home categories.

As Drug Store News previously reported, parent company Sears Holdings is in the process of closing 92 underperforming pharmacy operations in certain Kmart stores. 

CHESAPEAKE, Va. — Dollar Tree's profit declined in the first quarter amid an impairment charge related to its divestiture to Dollar Express.