Westport talks meth-resistant pseudoephedrine Zephrex-D
AUDIO Q&A: Westport VP and general manager Paul Hemings spoke with DSN about the company’s introduction of Zephrex-D, a meth-resistant pseudoephedrine product, to market. Beyond taking a bite out of the $23.5 billion methamphetamine trade, Hemings discussed the benefits of having Zephrex-D behind the pharmacy counter.
Family Dollar Stores Q2 sales up 17.7%, but CEO expresses discretionary income concerns
MATTHEWS, N.C. — Family Dollar Stores on Thursday reported a net sales increase of 17.7% to $2.9 billion for the second quarter ended March 2. Comparable stores were up 2.9%.
An extra week in the quarter contributed approximately $189 million in sales. Strong growth in tobacco, food and HBA contributed to a 26.6% lift across consumables, the dollar operator reported.
“Our continued market share gains reflect the successful execution of our strategy to become more relevant to customers,” stated Howard Levine, chairman and CEO. “This quarter we delivered positive results despite financial pressures that continue to challenge our customers," he said.
Levine expressed concern around the discretionary dollars of the shoppers patronizing Family dollar. And the weak economy and a cold spring is still proving a challenge, Levine added. "Unfortunately, the unanticipated delay of the 2012 tax refunds impacted our results at the end of January and the beginning of February. We were happy to see sales trends improve towards the end of the quarter as our customers began to receive their tax refunds," he said.
“Given this uncertainty, we have adjusted our plans to reflect lower than anticipated home and apparel sales as our customers’ discretionary spend is expected to remain constrained," Levine concluded.
Family Dollar shares were down 1.1% to $59.78 in late afternoon trading.
March sales down 2% across Fred’s Super Dollar
MEMPHIS, Tenn. — Fred’s Super Dollar on Thursday reported total sales of $190.4 million for the five weeks ended April 6, down 2% from the comparable year-ago period.
Comparable store sales for the month decreased 3% compared with flat store sales in the same period last year.
"We expected that March general merchandising sales would be adversely affected by unseasonably cool weather and the timing of the Easter holiday, both of which affected two of our key reconfiguration departments — lawn and garden and seasonal," stated Fred’s CEO Bruce Efird. "The pharmacy department continued to produce strong comparable script growth, but that was offset by the ongoing brand-to-generic shift, which resulted in lower overall pharmacy sales — a trend that we will see throughout most of the year," he added. "We are optimistic about April sales as the spring seasonal sales kick in and our operational expense initiatives take hold. All of these factors were anticipated as we developed our guidance for the first quarter."