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Drugstore.com’s revenues rise with help of OTC sales

BY Michael Johnsen

BELLEVUE, Wash. Drugstore.com experienced a net sales increase of more than 27%, reaching $113.1 million, for the second quarter ended July 4, the online health-and-beauty-aids retailer announced Tuesday.

“In a softer consumer spending environment, we were pleased to deliver 27% year-over-year revenue growth and strong gross margins of 30.4%,” stated Dawn Lepore, CEO and chairman of Drugstore.com.  “Revenue growth was driven by OTC sales up 35%, including solid contributions from our recent acquisition, Salu, which added over $11.5 million. During the quarter, we generated new customer growth of 34%, offering further evidence that we are a clear leader in one of the least penetrated markets in ecommerce.”

For the third quarter 2010, the company is targeting net sales in the range of $107 million to $111 million.

For fiscal year 2010, which compares a 52-week year with a 53-week year, the company expects OTC revenue growth between 24% and 28%, inclusive of $16 million to $20 million from partnerships, and vision revenue growth in the low single digits.

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Hy-Vee acquires two stores

BY Alaric DeArment

SIOUX FALLS, S.D. Midwestern supermarket chain Hy-Vee will acquire two stores in the upper Midwest, Hy-Vee said Tuesday.

Hy-Vee agreed to purchase two stores from Sunshine Foods, one in Sioux Falls, S.D., and one in Windom, Minn. Des Moines, Iowa-based Hy-Vee already operates five stores in Sioux Falls and one in Windom.

“Sioux Falls is a key market for Hy-Vee, and the addition of these two stores will enable us to expand our services to more customers in more areas of the city,” Hy-Vee VP western region Paula Correy said . “In Windom, we will be able to replace our outdated store with a newer, larger facility.”

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DigiPower introduces Jump Start Slim

BY Allison Cerra

AVENEL, N.J. DigiPower has launched a rechargeable auxiliary battery pack for smart phones.

The Jump Start Slim is a 1100mAh auxiliary battery pack that measures 1/4-inch thin, weighs 2 oz. and also features optimized circuitry that allow for faster charging times from a computer or standard USB charger. It retails for $29.95.

“Never before has so much rechargeable power been packed into a case so small, thin, and light,” said DigiPower President Maurice Mizrahi. “Less than half the size and weight of currently available battery packs, Jump Start Slim is designed to provide consumers with three additional hours of 3G talk time, 7 additional house of video playback, and 21 additional hours of audio enjoyment.”

For more information, Mizco.com.

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