Mergers & Acquisitions

New York City -- Walgreens on Friday reported that its same-store sales rose 3.2% in November. The drugstore operator’s total sales rose 8.6% to $5.83 billion. (Duane Reade stores, acquired in April 2010, contributed 2.8% points to the total sales increase for the month. But those stores are not included in the same-store sales report.)

Meanwhile, Rite Aid Corp. reported that its November same-store sales fell 1.3% due to the introduction of new generic drugs and a decline in prescriptions resulting partly from a milder flu season.

New York City -- Robert K. Futterman & Associates said it has been retained as the exclusive retail leasing agent for the Manhattan franchisee of Elevation Burger, which controls the chain’s locations south of 50th Street and is currently the only Manhattan franchisee. 

Earlier this year, RKF represented the burger chain’s franchisee in the leasing of its Manhattan flagship location at 103 West 14th Street between Sixth and Seventh Avenues. It is scheduled to open in December.

New York City -- Wal-Mart Stores has filed suit against CVS Caremark Corp. to prevent CVS from hiring former Wal-Mart executive Hank Mullany, according to a Friday report by Bloomberg.

CVS’s hiring of Mullany, former president of Wal-Mart’s northern U.S. division, would violate a noncompete agreement, Wal-Mart said in the complaint filed Thursday in Delaware Chancery Court.

According to Wal-Mart’s complaint, CVS has indicated that it intends to hire Mullany without regard to the agreement.

New York City -- Starbucks Corp. is looking beyond its cafes for expansion in the future. Detailing its growth plans Wednesday at its investor conference, the chain announced it plans to triple the number of its cafes in China, offer more products in grocery stores and open new kinds of stores to build on its recent recovery.

New York City -- Aeropostale announced that, effective immediately, Thomas P. Johnson, co-CEO, has been named CEO. Mindy C. Meads, who has served as co-CEO along with Johnson since February 2010, will leave the company to pursue other interests. She will stay for a short period to ensure a smooth transition.

New York City -- Developers Diversified Corp. announced the introduction of six new locations for teen fave Five Below in 2010. The stores were opened in Ohio; New Jersey; North Carolina; and New York.

Five Below currently operates over 100 discount stores across the country and intends to double its store count by the end of 2011 through a massive expansion spree.