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Target Feb. comps beat expectations

BY DSN STAFF

MINNEAPOLIS Target reported that its net retail sales for the four weeks ended Feb. 27 were $4.6 billion, an increase of 6% from $4.4 billion for the four weeks ended Feb. 28, 2009.

On this same basis, February comparable-store sales increased 2.4%.

“February comparable-store sales were modestly above our expectations,” said Gregg Steinhafel, Target chairman, president and CEO. “We continue to experience year-over-year increases in guest traffic in our stores, reflecting the relevance of our strategy and assortment in combination with a slowly recovering

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Yaksitch named VP marketing and merchandising for Albertsons’ Dallas-Fort Worth division

BY Antoinette Alexander

FORT WORTH, Texas Albertsons’ Dallas-Fort Worth division has named Frank Yaksitch as VP marketing and merchandising, effective March 12, according to published reports.

Yaksitch, who has been with Albertsons for more than 35 years, most recently served as SVP of operations for Albertsons Intermountain West division.

During his tenure with Albertsons, Yaksitch has also held a variety of increasingly responsible positions, including store director and district manager.

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Walgreens’ monthly sales rise

BY Allison Cerra

DEERFIELD, Ill. Walgreens had February sales of $5.31 billion, an increase of 3.2% from $5.14 billion for the same month in 2009.

The drug store chain also reported that its same-store sales increased 0.4%.

February pharmacy sales increased 3.7%, while comparable pharmacy sales increased 0.9%. Comparable pharmacy sales were negatively affected by 2.4 percentage points due to generic drug introductions in the last 12 months and a lower incidence of flu compared with February 2009. Pharmacy sales accounted for 64.5% of total sales for the month.

Total front-end sales increased 4.5% in February, while comparable store front-end sales decreased 0.6%, which the company said were impacted by continued weak demand for discretionary items and by lower incidence of flu.

Year-to-date sales for fiscal 2010 for the first six months totaled $33.34 billion, up 6.1% from the same period last year.

In the month of February, the chain opened seven stores, acquired 11 and closed one. At Feb. 28, Walgreens operated 7,679 locations in all 50 states, the District of Columbia, Puerto Rico and Guam.

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