Z Wireless acquires T2 Wireless
Sioux Falls, S.D. — Verizon Wireless services retailer Z Wireless, which operates 12 stores throughout Kansas, on Monday announced the acquisition of T2 Wireless, another Verizon retailer which operates more than a hundred stores in the Great Plains.
Atlantic Street Capital, a private equity firm investing in the lower middle market, acquired Z Wireless in 2011.
“We are building a market leading position in the midwest through organic growth as well as carefully targeted acquisitions,” said Kevin Tupy, CEO of Z Wireless.“T2 is a very well-run organization that meets our strict acquisition requirements and strengthens our footprint in Kansas.”
Front-end sales warm up Walgreens February results
DEERFIELD, Ill. — Higher front-end sales for the month of February helped counter-balance lost revenue from Express Scripts prescriptions, Walgreeens reported Monday. Overall, the drug store chain reported a 1.5% sales increase to $5.9 billion.
Shares of Walgreens were up slightly by 8 cents to $32.77 in early morning trading.
This year’s total February sales benefited from one extra day because of leap year, the company noted.
Total front-end sales increased 6.9% compared with the same month in 2011, while comparable-store front-end sales increased 2%. Customer traffic in comparable stores was down 0.2% while basket size was up 2.2%.
Total sales for the second quarter of fiscal 2012 were $18.6 billion, up 0.7% from the same period a year ago.
Fiscal 2012 year-to-date sales for the first six months were $36.8 billion, up 2.6%. Calendar year-to-date sales were $11.6 billion, a decrease of 0.6%.
Walgreens opened 10 stores during February, including one relocation, and acquired one store.
Rite Aid lends support to Ky. tornado victims
CAMP HILL, Pa. — In the wake of tornadoes that hit communities in Kentucky on Friday, retail pharmacy chain Rite Aid has donated to a local Red Cross chapter to assist victims.
The company said Sunday that the Rite Aid Foundation, its philanthropic arm, had donated $15,000 to the Bluegrass chapter of the American Red Cross. The foundation also will provide supplies and items to assist with disaster relief efforts. Eli Lilly Foundation also pledged to donate $100,000 to the Red Cross.
"We are extremely grateful for the immediate support of the Rite Aid Foundation," American Red Cross Bluegrass Chapter director of development Winn Stephens said. "Thanks to their generosity, the Red Cross will be able to provide much-needed help and hope to those who need it most."
According to media reports, at least 38 people died Friday and Saturday as an outbreak of severe thunderstorms and tornadoes swept across a area that included Kentucky, Indiana, Alabama and Georgia.