Finance & Capital Management

Rite Aid posted $2 billion for the four weeks ended April 26, representing a lift of 4.9%. Same-store sales increased 5% over the prior-year period.

April front-end same-store sales increased 4.7%, with 4.6% of the increase attributable to a shift in the timing of Easter, which fell on April 20 this year, compared with March 31 last year. Pharmacy same-store sales, which included an approximate 138 basis points negative impact from new generic introductions, increased 5.2%. Prescription count at comparable stores increased 2.3% over the prior-year period.  

Skeeter Nut Free, a snack food company that manufactures peanut- and tree nut-free snacks, has added three executives to its senior leadership team. Larry Appel will be CEO and a member of the board of directors, while Javier Retamar joins as CFO and Sharyla Robinson as VP of marketing.

Walmart CEO Doug McMillon said he was reluctant to hit send on an email inviting CEOs from top global companies to attend the retailer’s Sustainable Product Expo because he knows how busy everyone is. However, when an email from the top executive from the world’s largest company offers an opportunity to “be part of what’s next,” it’s not surprising so many CEOs found time to visit Northwest Arkansas this week.
 

An effort to raise the federal minimum wage to $10.10 failed on Wednesday, as the issue was not able to clear a procedural vote in the Senate. Senators predominantly voted across party lines, which places Democratic senators in favor and Republican senators opposed.

According to published reports, while the defeat was expected it is serving as a rallying cry for Democrats preparing their next campaign.

Walmart may not operate stores in New York but it managed to enlist the aid of the city’s top trash executive to reinforce the importance of accelerating recycling efforts.

The timing of the Easter holiday this year adversely affected first-quarter sales at Publix by 1.3% — Easter fell in the second quarter this year, rather than the first quarter as if did last year — but the company still posted a 4.1% increase to $7.8 billion from last year’s $7.5 billion.

Comparable-store sales for the quarter increased 4%.

Belk has entered into a multilayered partnership with the American Red Cross to aid those impacted by the recent storms that have swept through the southern United States.

As a part of the partnership, Belk will make a $100,000 contribution to help with immediate and long-term recovery efforts, and customers will have the opportunity to participate by donating to the fund on belk.com. In addition, Belk will work with the local American Red Cross chapters to provide store discounts to those affected by the storm.

Bauer Performance Sports, a leading designer and manufacturer of high performance sports equipment and apparel, has appointed Karyn O. Barsa as an independent director of the company.

Barsa has led numerous global premium brands and has been a member of the board of directors of Deckers Outdoor Corporation since 2008. Barsa served as the CEO at Coyuchi, from 2009-13 and has also served as the CEO of Investor's Circle and Smith & Hawken.

An expected shift in Easter-related product shipments affected Kraft Foods Group in the first quarter of 2014.

"We continued to make steady progress during the first quarter of this year," said CEO Tony Vernon, who remained positive. "We still have more work to do, but we're confident that our focus on brand renovation, marketing excellence and total cost management will drive the profitable growth that both we and our shareholders expect."

Washington, D.C. -- Driven by stronger same-store sales and customer traffic and a more optimistic outlook among restaurant operators, the National Restaurant Association’s Restaurant Performance Index 's rose to a 10-month high in March. The RPI – a monthly composite index that tracks the health of and outlook for the U.S. restaurant industry – stood at 101.4 in March, up 0.9 percent from February's level of 100.5.