John Heinbockel News
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Rite Aid Corp. rose to the highest price in more than three years after reporting its first annual profit since 2007, saying the company is benefiting from a focus on wellness programs.
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Family Dollar Stores Inc., the second-biggest U.S. dollar-store retailer, forecast that profit this year will be less than it previously expected as shoppers curb discretionary spending.
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Food prices have begun to rise at a faster pace in the U.S. and some retailers are poised to profit from the acceleration, according to John Heinbockel, an analyst at Guggenheim Partners LLC.
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Walgreen Co., the biggest U.S. drugstore chain, agreed to buy a 45 percent stake in Alliance Boots GmbH for $6.7 billion in an attempt to create a global chain of pharmacies.
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Walgreen Co. agreed to acquire a stake in Alliance Boots GmbH because its business is mostly in the U.K., which it viewed as less risky than the rest of Europe, according to a person familiar with the situation.
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Dollar General Corp., the discount retailer acquired by KKR & Co. in 2007, is fetching a premium in the debt markets as it approaches an investment-grade rating and takes market share from Wal-Mart Stores Inc. and other larger competitors as the economy struggles to accelerate.
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Supervalu Inc. is offering private- equity shoppers the biggest discount of any supermarket chain in America.
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It’s the last thing Dollar General Corp. and Family Dollar Stores Inc. need right now: an extra $15 a week deducted from the wages of customers already living paycheck to paycheck.
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Bi-Lo LLC agreed to buy Winn-Dixie Stores Inc. for about $560 million, more than tripling the supermarket operator’s number of stores in the U.S. South to almost 700 and helping it compete with Wal-Mart Stores Inc.
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CVS Caremark Corp., the largest provider of prescription drugs in the U.S., posted third-quarter profit that exceeded analysts’ estimates and raised its earnings forecast for the year after winning customers from Walgreen Co.
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