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Bloom succeeds Shore as CEO of Fred’s

Bloom succeeds Shore as CEO of Fred’s

Fred’s Inc. president and chief operating officer Michael Bloom has been named as chief executive officer, succeeding Jerry Shore, who is retiring. Bloom takes the CEO reins effective immediately, and plans call for Shore to retire from the company in February, Fred’s said Tuesday.

Pfizer to buy Medivation for $14 billion

Pfizer to buy Medivation for $14 billion

Boosting its oncology portfolio, Pfizer Inc. plans to acquire biopharmaceutical company Medivation for $14 billion in cash. Under the deal announced Monday, Pfizer is paying $81.

Walmart sees ‘positive momentum’ in 2Q

Walmart sees ‘positive momentum’ in 2Q

Walmart earned $1.07 per share in the fiscal second quarter, slightly lower than its $1.08-per-share profit a year ago but above Wall Street’s consensus forecast of $1.02. The retail giant said Thursday that revenue grew 0.5% to $120.

Target reports declined 2Q sales, earnings

Target reports declined 2Q sales, earnings

Target Corp. posted a 7.2% decrease in revenue and a 9.7% decline in net earnings for the second quarter. Target said Wednesday that adjusted earnings per share were $1.23 for the second quarter ended July 30, well above analysts’ projections of $1.13, on revenue of nearly $16.

Fred’s appoints new chief merchant

Fred’s appoints new chief merchant

Bryan Pugh has resigned as chief merchant at Fred’s Inc. and has been replaced by Mary Lou Gardner. Fred’s said late Tuesday that Gardner takes over Pugh’s role as executive vice president and chief merchandising and marketing officer effective immediately.

McKesson Canada president leaves for new job

McKesson Canada president leaves for new job

McKesson Canada president Alain Champagne is leaving the company to join sales training and development firm Optimé International as a partner and chief executive officer. Plans call for Champagne to take over as Optimé CEO effective Sept. 1.

Perrigo finalizes sale of vitamins business to IVC

Perrigo finalizes sale of vitamins business to IVC

Perrigo Co. plc has wrapped up the sale of its U.S. vitamins, minerals and supplements (VMS) business to International Vitamin Corp. (IVC). The cash deal, terms of which weren’t disclosed, was announced in late June.

Walmart to acquire Jet.com in $3.3 billion deal

Walmart to acquire Jet.com in $3.3 billion deal

Following recent reports that a deal was in the works, Walmart announced that it’s buying online retailer Jet.com Inc. in a transaction valued at $3.3 billion. Walmart said Wednesday that under the agreement, it will buy Jet for about $3 billion in cash and $300 million in Walmart shares.

Mylan closes acquisition of Meda

Mylan closes acquisition of Meda

Mylan N.V. has completed its $9.9 billion deal to acquire Sweden-based Meda AB. Mylan had received Federal Trade Commission clearance for the transaction in late July. The deal was announced in February.

Fred’s looks to energize pharmacy business

Fred’s looks to energize pharmacy business

Pharmacy is a pillar of the action plan at Fred’s Inc. in the wake of sales declines in July and the fiscal 2016 second quarter. Fred’s said July sales fell 7% to $154 million from $165.6 million a year earlier. Same-store sales for the month were down 4.6% versus a 0.7% uptick