Harry & David to Go Public
Medford, Ore., Harry & David Holdings, Inc., formerly known as Bear Creek Holdings Inc., filed a registration statement with the Securities and Exchange Commission relating to a proposed initial public offering of shares of its common stock, par value $0.01 per share. The number of shares to be offered and the price range for the offering have not yet been determined. UBS Investment Bank will serve as book-running lead manager for the offering, with Banc of America Securities LLC and Calyon Securities (USA) Inc. acting as co-managers.
Albertsons To Test In-Store Health Clinics
Boise, Idaho, Albertsons has signed a deal with Take Care Health Systems to test its in-store Health Centers in six Osco Drug Stores in the greater Kansas City market. The clinics will be staffed by certified nurse practitioners who will provide diagnosis and treatment of common family illnesses, administer vaccines and perform diagnostic screenings. Customers will be able to visit the clinics without an appointment.
CVS Sees Quarterly Profit, Sales Rise
Chicago, CVS Corp. reported an 18% increase in quarterly profit and a 5.1% rise in July sales in stores open at least a year. The increases are attributed to the greater demand for prescription drugs and more general merchandise sales.
CVS surpassed its expected profits. Analysts had expected a profit of 31 cents per share, but the drugstore chain’s profit rose 33 cents per share to $275.9 million. Last year, profits were $234.5 million, or 28 cents per share.
Preliminary figures revealed a 6.1% increase in pharmacy same-store sales and a 2.9% increase in same-store general merchandise comparable sales for the month of July. CVS will release its final July sales numbers on Thursday.