Pinnacle Foods announced on Monday that it has terminated its merger agreement with Hillshire Brands, originally announced May 12. Pinnacle is a producer of such branded food products as Vlasic pickles, Mrs. Butterworth syrups and Wishbone salad dressings.
Shrinkage levels average 1.27% of sales, which translates to a $57 billion loss to the industry, according to the U.S. Retail Fraud Survey, which is based on research into the systems and strategies used by 100 leading North American retailers.
As Walgreens carefully considers how to best execute the second step of its acquisition of Alliance Boots, Walgreens on Tuesday relayed its progress in improving its domestic business, including the company's success in winning the prescription business of high-value seniors and the pending national launch of its Boots No7 beauty brand.
Merck announced on Friday that it is commencing, through a subsidiary, a cash tender offer to purchase all outstanding shares of common stock of Idenix Pharmaceuticals. On June 9, Merck announced its intent to acquire Idenix.
More than 1-in-4 Rite Aid locations now reflect the latest in healthcare retailing — the company's Wellness store format, the concept that serves as a cornerstone to Rite Aid's overall health-and-wellness solution, John Standley, Rite Aid chairman and CEO, told analysts Thursday morning.
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.
Despite the massive data breach that hurt Target’s fourth quarter, people are not staying away from the retailer. According to a Reuters report, the company saw a dramatic improvement in traffic in the first quarter compared with its late fourth-quarter trends.