Walgreens and Rite Aid report rise in December same-store sales
New York City — Walgreen Co. said Thursday that its same-store sales increased 0.4 percent in December, beating analysts’ estimates for a decline of 0.1%.
Front-end sales were up 0.6%. Same-store pharmacy sales, which make up nearly 60% of total sales, rose 0.2%. Walgreen said those sales were hurt by more launches of generic drugs, as well as a milder season for coughs, colds and the flu.
Rite Aid Corp. said Thursday its December same-store sales rose 3.6%, boosted by higher pharmacy sales.
For the five weeks ended Dec. 31, same-store pharmacy increased 5.2% and front-end sales edged up 0.7%.
Sales increase 11.3% in December at Pier I Imports
Fort Worth, Texas — Pier 1 Imports Inc. said Thursday its same-store sales climbed 11.3% in December, driven by a greater number of shoppers who spent more on each visit. The gain topped the 10.3% rise in the same month a year ago.
The chain said sales remained strong throughout the month, including the week after Christmas, in every region.
Best Buy completes acquisition of mindShift Technologies
Minneapolis — Best Buy said today that it has completed the acquisition of mindShift Technologies, which provides managed IT, cloud, data center and professional services to more than 5,400 clients and 25,000 managed desktops in markets throughout the nation.
The acquired firm will operate under its current name, management team and capabilities, which include approximately 500 employees at offices in Boston; Long Island, N.Y.; Minneapolis; Morrisville, N.C.; New York City; Philadelphia and Washington, D.C.