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 The leading web portal for pharmacy resources, news, education and careers April 28, 2017
Pharmacy Choice - Pharmaceutical News - Retail sales post small gain - April 28, 2017

Pharmacy News Article

 3/16/17 - Retail sales post small gain

Retail sales post small gain

U.S. retail sales in February posted the smallest gain in six months, indicating a tempering of the consumer spending that's been carrying the economy.

Purchases rose 0.1 percent, matching the Bloomberg survey median estimate, after a 0.6 percent increase in the prior month that was stronger than previously reported, Commerce Department figures showed Wednesday. Just four of the 13 major retail categories saw gains in February sales.

Receipts dropped at electronics and appliances stores, apparel outlets and car dealers, a sign of more moderate consumption in the first quarter. While purchases may have been restrained by a temporary slowdown in individual tax refunds, robust confidence, healthy job growth and steady incomes may provide some fuel for a recovery in spending.

February was "relatively weak, and one of the reasons is the delay of tax refunds," Eugenio Aleman, senior economist at Wells Fargo Securities LLC in Charlotte, North Carolina, said before the report.

Walgreens eyes sale of more assets

Walgreens is trying to sweeten its proposal to win U.S. antitrust approval to buy rival pharmacy chain Rite Aid, according to people familiar with the talks.

Walgreens is nearing an agreement to sell more assets to Tennessee-based discount chain Fred's - boosting the number of stores and adding distribution centers, software and personnel.

Walgreens could present the beefed-up package to the U.S. Federal Trade Commission within weeks, in hopes of satisfying the agency's concerns after an initial proposal fell short.



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