Financial News

SUNBURY, Pa. — Weis Markets on Thursday posted a fourth-quarter sales increase of 17.6% to $925.1 million, adjusted for the extra week in 2016, driven by comparable-store sales gains of 3.4% for the 14-week period ended Dec. 31.

For the year, the company's sales increased 9% to $3.1 billion. Year-to-date net income increased 46.9% to $87.2 million, while earnings per share increased 46.6 percent to $3.24 compared to $2.21 in 2015. Year-to-date operating income increased 8.3% to $98.3 million.

DEERFIELD, Ill. — Walgreens Boots Alliance could soon declare it has “certified compliance” in its Rite Aid merger, forcing the U.S. Federal Trade Commission to vote on the proposed transaction in 30 days, reported The New York Post.

“The declaration would mean that, in Walgreens’s opinion, it has given regulators substantially all the information they need to make a decision,” the newspaper wrote.

The graying of the baby boomers, an increased focus on supplementing healthier lifestyles and the steady stream of nasal corticosteroid brands making their way from prescription-only to the more value-oriented OTC aisle were just three significant drivers behind the growth of over-the-counter medicines in 2016.

(To view the full Category Review, click here.)

Consumers buying homeopathic remedies base those decisions on two factors: products that are safe and efficacious. The products have to work, or they wouldn’t earn the repeat purchases that are helping to drive sales.

(To view the full Category Review, click here.)

CINCINNATI — Kroger on Thursday reported net earnings of $0.53 per diluted share and a decline in identical supermarket sales, without fuel, of 0.7% for the fourth quarter ended Jan. 28.  For the fiscal year, net earnings were $2.05 per diluted share and identical supermarket sales growth, without fuel, was 1%.  

MEMPHIS, Tenn. — Fred’s Pharmacy reported total sales for its fiscal month of February, which ended Feb. 25, decreased 3.5% on a year-over-year basis to $165.4 million. Total comparable store sales declined 4%, compared with an 0.8% increase during the same time period in 2016.

Fred’s CEO Michael K. Bloom stressed the company is pleased with progress it is making under its strategic plan though.

ISSAQUAH, Wash. — Costco announced Thursday it will increase its membership fee by $5 to $60 annually for its U.S. and Canada Goldstar individual, business and business add-on members. This change will take effect June 1.

Also effective June 1, annual fees for Executive memberships in the U.S. and Canada will increase by $10 to $120. Both moves will impact a total of about 35 million members, stated Costco.

However, the maximum annual 2% reward associated with the executive membership will increase from $750 to $1,000.