Dunkin’ Brands files for IPO
New York City — Dunkin’ Brands Group, which operates the Dunkin’ Donuts and Baskin-Robbins chains, filed to sell at least $400 million of stock in an initial public offering.
The Canton, Mass.-based company plans to use the proceeds to repay debt and for working capital and general corporate purposes, according to its filing with the Securities and Exchange Commission.
Dunkin’ Brands was taken private in 2005 by a trio of private-equity firms for $2.4 billion in cash.
The company plans to trade on the Nasdaq Global Select Market under the ticker DNKN.
Wal-Mart to invest $756 million in Brazil
New York City — Wal-Mart Stores said that by the end of the year it will have invested the equivalent of approximately $756 million to expand its operations in Brazil.
Marcos Samaha, president of Wal-Mart’s Brazilian subsidiary, said in a Tuesday statement that 1.2 billion reals ($755 million) will be used to build 80 stores, renovate existing locations and improve logistics.
Samaha says that the company’s expansion in Brazil, which is Latin America’s biggest economy, due to its "excellent economic growth potential." Brazil’s economy grew 7.5% in 2010 and may expand 4% in 2011, according to the quarterly inflation report published March 30 by Brazil’s central bank.
During the, past five years Wal-Mart has invested some $3.8 billion in Brazil to build 177 stores.
Walgreens April sales up 3.4%
Deerfield, Ill. — Walgreens said its same-store sales rose 3.4% in April. But analysts surveyed by Thomson Reuters expected, on average, that revenue at those stores had risen 3.6%.
Walgreen said pharmacy comp-store sales were up 1.8%, below analysts’ estimate of 2.4%. The company said the results were hurt by 1.9 percentage points because of a calendar shift and the move of the allergy drug Allegra from prescription to over-the-counter status.
Sales of nonpharmacy items jumped 6.5% benefiting from this year’s late Easter, the company said. Analysts expected a 5.9% rise.