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Starbucks profit up 20%
Seattle -- Starbucks on Wednesday reported that its second-quarter profit rose 20% as more customers visited its stores, and it raised its earnings forecast for the year.
The company said it earned $261.6 million for the quarter ended April 3, up from $217.3 million a year earlier. Revenue rose nearly 10% to $2.79 billion.
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Rite Aid’s April sales up
Camp Hill, Pa. -- Rite Aid's April sales rose thanks in part to bustling business at its pharmacies.
Rite Aid’s same-store sales rose 0.5% over the four weeks ended April 23, with pharmacy revenue up 1%. Sales of nonpharmacy fell 0.4%. Prescriptions filled at those stores rose 0.7%.
Total April sales fell 0.4% to $1.95 billion from $1.96 billion. The company had 4,705 stores as of April 23, 68 less than a year ago.