Finance & Capital Management

Walmart’s ongoing investigation into bribery allegations was thrust into the spotlight again this week after the New York Times published results of its own investigation.

CAMP HILL, Pa. — Rite Aid beat analyst expectations in third quarter 2013 as the generic wave and retention of Express Scripts customers helped drive better-than-expected adjusted EBIDTA and produced the company's first profitable quarter in five years.

"I am proud that we have achieved this significant milestone by putting our customers first and challenging ourselves to better serve them," Rite Aid president, chairman and CEO John Standley said in a conference call with Wall Street analysts Thursday morning.

DEERFIELD, Ill. — Walgreens has made additional donations totaling $100,000 to Hurricane Sandy relief efforts.

The company, which includes Duane Reade in New York and New Jersey, is making two $50,000 contributions, one to the Empire State Relief Fund announced by New York Gov. Andrew Cuomo, and the other to the Hurricane Sandy New Jersey Relief Fund established by Gov. Chris Christie.

WASHINGTON — The National Retail Federation welcomed the House vote on legislation intended to avoid middle-class tax increases in the fiscal cliff, saying progress on the issue is critically important.

Camp Hill, Pa. -- Rite Aid Corp. reported Thursday a profit of $60.5 million for the quarter ended Dec. 1, compared with a year-earlier loss of $54.5 million and marking the first time since quarter-ended May 2007 that the drugstore retailer has turned a profit.
 
Rite Aid also raised its forecast for the year, abandoning earlier forecasts of a loss for the year and instead suggesting that the company may turn an annual profit.
 

Whole Foods and fighting poverty are not words normally associated with one another, but a unique initiative underway with a breakfast supplier has the potential to do exactly that.

Greek yogurt is all the rage in the dairy aisle and General Mill’s Yoplait brand of the popular product and other new items made meaningful contribution to the company’s second quarter sales.

ALEXANDRIA, Va. — The National Association of Chain Drug Stores’ EVP and CFO Jim Huber is retiring after 25 years of service.

He will be succeeded by David Fitzsimmons, who has been promoted to SVP of finance and administration, effective December 21. Fitzsimmons currently serves as VP of finance and accounting.

Warburg Pincus has acquired a majority ownership stake in Crossmark, a leading provider of sales and marketing services to retailers and suppliers.

The companies said they entered into a definitive merger agreement whereby Warburg Pincus will make a majority investment of an undisclosed amount in Crossmark that allows for the management owners of the company to maintain a significant equity position and continue to actively lead the company after the transaction closes.

NORTH BERGEN, N.J. — The Vitamin Shoppe will buy a Pacific Northwest-based supplement chain, the New Jersey-based company said.

The Vitamin Shoppe said it would buy Super Supplements for $50 million. Super Supplements operates 31 stores in Washington, Oregon and Idaho, and the Vitamin Shoppe said the acquisition would expand its presence in the Northwest, where it already operates 17 stores. The transaction is expected to close on Dec. 31.