As talks roll on to gain regulatory clearance for its acquisition of Rite Aid Corp., Walgreens Boots Alliance (WBA) posted adjusted earnings for its fiscal 2016 fourth quarter and full year that beat Wall Street’s estimates.
Walgreens Boots Alliance (WBA) and Rite Aid Corp. are expanding the time frame for completing their planned $17.2 billion merger deal. WBA and Rite Aid said Thursday that they have extended the end date for the agreement to Jan. 27, 2017, from Oct. 27, 2016, and expect the
Drive Medical Canada, a subsidiary of Drive DeVilbiss Healthcare, has acquired the mobility and bathroom safety equipment business of AMG Medical. Financial terms of the transaction weren’t disclosed.
Supervalu Inc. has agreed to sell its Save-A-Lot hard discount grocery chain to private equity firm Onex Corp. for $1.365 billion in cash.
As part of its recently announced growth strategy, Newell Brands Inc. plans to sell its tool brands to Stanley Black & Decker in a $1.95 billion deal. Newell said Wednesday that the agreement includes its Irwin, Lenox and Hilmor brands.
Amazon.com Inc. reportedly plans to boost its grocery business by opening small brick-and-mortar stores. The outlets would sell perishable items such as milk, meat and produce, according to The Wall Street Journal, which cited anonymous sources familiar with retailer’s intentions.
Walmart’s capital spending plan for next year calls for fewer new brick-and-mortar stores, and an accelerated e-commerce push. The announcement of the retailer’s spending priorities came during Walmart’s annual meeting with the investment community.
Mylan N.V. has agreed to pay $465 million to the U.S. Department of Justice and other government agencies to resolve discrepancies about the classification of the EpiPen epinephrine auto-injector in the Medicaid Drug Rebate Program.
Target Corp. has brought its flexible format to Manhattan, opening a two-story, 45,000-square-foot store to serve Millennials and other city dwellers in the trendy neighborhood of Tribeca. The store is one of four flexible format stores that Target opened on Wednesday.
Mars Inc. plans to meld its Mars Chocolate and Wrigley segments to form one global candy business unit called Mars Wrigley Confectionery. Mars said Thursday that the move comes as its has gained full ownership of Wrigley, which it acquired in 2008.
Impacted by pricing pressure and pharmacy industry trends, Fred’s Inc. reported decreased revenue and same-store sales for September. The discount retail and pharmacy chain said Thursday that for the five weeks ended Oct. 1, sales totaled $199.9 million, down 5.5% from $211.4 million a year earlier.
A rise in front-end sales hoisted revenue at Jean Coutu Group’s retail store network for the fiscal 2017 second quarter. The Canadian drug store operator also saw corporate sales climb in the quarter and topped financial analysts’ consensus forecast for adjusted earnings per share.
James McCann, a member of the management board at Ahold Delhaize, has resigned as chief operating officer at Ahold USA. Ahold Delhaize said Wednesday that McCann stepped down as Ahold USA COO to move out of full-time executive work and into a portfolio of nonexecutive and advisory roles.
Karen Fondu, president of L’Oréal Paris USA, plans to retire at the end of 2016 after 37 years with the beauty care company. L’Oréal said Tuesday that Ikdeep Singh, president of the consumer products division of L’Oréal Canada, take over from Fondu as general manager for L’Oréal Paris USA.
Coty Inc. has finalized its acquisition of the fine fragrances, salon professional, cosmetics, retail hair color, and select hair styling businesses of Procter & Gamble Co.
Sanofi has appointed former Bayer executive Alan Main as executive vice president of its newly formed Consumer HealthCare global business unit.
