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Ex-Carter’s exec charged with fraud
Atlanta -- U.S. prosecutors have charged former Carter’s senior VP Joseph Elles with securities fraud, according to a report by the Associated Press.
Elles has been accused of lying about the company's financial situation and then selling shares of its stock when the price was artificially inflated.
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Walgreen profit leaps 69% in Q4
Deerfield, Ill. -- Walgreen Co. reported Tuesday that profit for its fiscal fourth quarter surged 69%, in part due to gains from the $525 million sale of its pharmacy benefits management business Walgreens Health Initiatives during the quarter.
Net income for the quarter ended Aug. 31 rose to $792 million, up from $470 million in the year-ago period and surpassing Wall Street expectations.
Revenue rose 6.5% to $18 billion and same-store sales increased 4.4%.