Starting off the year with a strong momentum, Kroger posted a 9% increase in first-quarter sales, which marked the first period that includes Harris Teeter in the statement of operations. Based on its strong quarter, the company has raised its fiscal 2014 guidance.
Allergan issued a statement Monday, reiterating the company's concern for what it calls Valeant Pharmaceuticals’ “unsustainable business model, which relies on serial acquisitions and cost reductions, as opposed to top-line revenue growth and operational excellence,” the company stated.
U.S. consumer spending fell by $8.1 billion, or 0.1%, in April 2014. It was the first monthly decline in consumer spending since April 2013 and followed a 1% increase of $117.6 billion the previous month.