Finance & Capital Management

Rite Aid reported $2 billion in sales for the four weeks ended Sept. 27, representing a 4.5% increase over the comparable year-ago period.
 
Same-store sales increased 5.1% over the prior-year period, including a 2.3% lift in front-end same-store sales and growth of 6.3% in pharmacy comparable sales. Pharmacy same-store sales included an approximate 225 basis points negative impact from new generic introductions. Prescription count at comparable stores increased 4.4% over the prior-year period.
 

Seattle -- Starbucks Coffee Company and HBO will host a free, all-star concert to honor the nations veterans and their families on the National Mall in Washington, D.C., to be presented live on HBO on Veterans Day, Nov. 11.

The line-up of performers scheduled to appear at The Concert for Valor include Bruce Springsteen, Eminem, Jamie Foxx, Dave Grohl, Metallica, John Oliver, Rihanna, Carrie Underwood and Zac Brown Band, as well as special appearances by Meryl Streep, Tom Hanks and Steven Spielberg, among others.

Dublin, Calif. - Ross Dress for Less will open two new stores in Hawaii on Oct. 10. The stores are located in Kukui Grove Center in Lihue, on the island of Kauai, and the Kahala Mall in Honolulu, on the island of Oahu.  

These new openings are part of the retailer’s 2014 expansion program, totaling approximately 75 new locations during the year.

Boston – Online home furnishings retailer Wayfair Inc. launches its initial public offering (IPO) today. The online home furnishings retailer is offering 11 million shares of common stock at $29 per share, which is above Wall Street projections.

The share offering includes 10.5 million shares of Wayfair stock and 500,000 shares from selling stockholders. Wayfair will not receive any proceeds from the selling stockholder shares, meaning the company should raise about $304.5 million in the IPO.

Paris -- LVMH announced the appointment of Caroline Brown as CEO of Donna Karan International, effective Jan. 15. She currently serves as president of Carolina Herrera.

Brown will replace Mark Weber, the incumbent CEO of Donna Karan International, who is becoming a consultant for LVMH.

Minneapolis -- Christopher & Banks announced the Oct. 6 grand opening of 37 stores that reflect the company’s updated retail strategy of bringing its plus-sized CJ Banks brand under the Christopher & Banks banner. The stores combine missy, petite and women's sizes in one shopping location.  

Hoffman Estates, Ill. – Sears Holdings Corp. is selling most of its 51% stake in its Sears Canada division to shareholders as its looks to boost its liquidity before the crucial holiday selling season. Sears, which previously said it was exploring options for the struggling Sears Canada unit and retained Bank of America Merrill Lynch in May 2014, expects to raise as much as $380 million by November 2014. 

Deerfield, Ill. – Walgreens and The Western Union Company have launched international and domestic money transfers through a new Western Union stage and pay kiosk model via the Walgreen’s Balance Financial platform. Customers can send or receive money at more than 7,650 Walgreens and Duane Reade locations in 49 states, the District of Columbia, Puerto Rico and the U.S. Virgin Islands.