News

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.

Valspar will become the new paint supplier for Ace Hardware, according to Retailing Today sister publication Home Channel News.

Said to be in the final stages of inking the deal, Valspar would replace Ace Hardware’s signature brand Benjamin Moore.

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.
 

Reston, Va. -- comScore reported Thursday that the most recent week achieved record-setting levels of online spending, eclipsing $7 billion in sales for the first time ever. Four individual days surpassed $1 billion in spending, led by Green Monday at $1.275 billion.

According to comScore, holiday season retail e-commerce spending for the first 46 days of the November–December 2012 holiday season has reached $35 billion, marking a 13% increase vs. the corresponding days last year.

Union, N.J. -- Bed Bath & Beyond Inc. reported Wednesday that profit for the quarter ended Nov. 24 rose almost 2% to $232.8 million, from $228.5 million last year, edging Wall Street expectations.

Revenue increased 15% to $2.7 billion, just missing analysts’ forecasted $2.73 billion in revenue. Same-store sales rose 1.7%.

The retailer said it estimates Hurricane Sandy lowered comps by about 0.9% during the period.

Whiting, Ind. -- More than half of U.S. adults are feeling positive about what 2013 may hold for them financially, according to survey results released Thursday by CouponCabin.com and conducted by Harris Interactive.

The survey found that 52% of U.S. adults are optimistic that 2013 will be a better year for them financially than years past, up from 48% last year.

ENGLEWOOD CLIFFS, N.J. — Unilever has donated nearly $850,000 and three million pounds of Unilever brand products to Feeding America, the nation's leading hunger-relief organization, in 2012.

The financial contribution comes from joint cause marketing programs and support from the Unilever United States Foundation.