Mergers & Acquisitions

Walgreens said stronger sales from established stores helped it trump analyst expectations for the first quarter, even as the company's acquisition of European retailer Alliance Boots remains on track to close this month.

Walgreens reported a 16.4% lift in quarterly profit to $809 million that was credited to the 222 million prescriptions filled for the first quarter ended Nov. 30. 

Home Depot EVP Marvin Ellison will become president of J.C. Penney on November 1 and succeed Mike Ullman as CEO of the department store retailer next August.

Deerfield, Ill. – Cost synergies from its ongoing merger with U.K. drugstore chain Alliance Boots GmBH helped boost net earnings at Walgreen Co. 16% to $809 million in the first quarter of fiscal 2015 from $695 million the same quarter a year earlier. The combined synergies for Walgreens and Alliance Boots in the first quarter were approximately $140 million and remain on track to reach at least $650 million in fiscal 2015.

Sales rose 7% to $19.6 billion from $18.33 billion. Same-store sales increased 5.7%.

Teen and pre-teen retailer Five Below landed two senior executives from Walmart.com and Ascena Retail Group for key roles as it looks to accelerate an already rapid pace of growth.

Walmart.com president and CEO Joel Anderson will join Five Below as president in July to oversee all aspects of merchandising, stores and marketing. Eric Specter, most recently EVP and chief integration officer for Ascena, will serve as Five Below’s chief administrative officer and oversee supply chain, information technology and real estate.

Family Dollar delayed a shareholder vote on a potential acquisition by Dollar Tree until Jan. 22 in a move that allows more time to contemplate a rival bid from Dollar General.

Family Dollar convened as planned on Tuesday and, based on insufficient votes, subsequently adjourned its Special Meeting of Stockholders on the proposed transaction with Dollar Tree.

Redwood Shores, Calif. - Jill Puleri will join Oracle Corp. as senior VP and general manager, Oracle Retail. Having held various leadership positions in sales, marketing and consulting, Puleri brings more than 20 years of experience in the retail industry, most recently serving as the worldwide retail industry leader for IBM Global Business Services.   Puleri will be responsible for leading the Oracle Retail Global Business Unit and report to Mike Webster, Oracle's senior VP and general manager, retail and hospitality.

New York City - Barnes & Noble announced that it has bought back full ownership of its Nook e-reader business, which it plans to split into a separate company.   On Tuesday, the bookseller said that it acquired educational book publisher Pearson Inc.'s stake in Nook for $27.7 million; the deal closed Monday, and Barnes & Noble said it now owns Nook Media outright.  

A search is underway for a new CEO at Walgreens following the resignation of president and CEO Greg Wasson as the retailer moves toward creation of a new holding company ownership structure and complete its largest ever acquisition.