P&G expands partnership with American Red Cross
CINCINNATI — Proctor & Gamble will expand its partnership with the American Red Cross by joining the Disaster Responder Program, which will help ensure an immediate response to those affected by disasters nationwide.
“P&G employees and brands are committed to joining together after disasters to help where we can, providing some of our products we know people have come to count on in the everyday moments of their lives,” Melanie Healey, P&G Group-President North America said. “This partnership with the American Red Cross helps ensure families are reached with immediate care in the critical moments after a disaster. "
The American Red Cross and P&G have worked over together over the past decade to respond to various disasters across the United States, including the Oklahoma tornadoes and Superstorm Sandy. Recently, P&G has expanded efforts to provide kits for disaster relief. The kits, which include toiletries like deodorant and toothpaste, are packed by P&G employees, then shared with families in the days after disasters through mobile relief units.
“The generous donations from Disaster Responder Program members help the Red Cross assist disaster survivors and support volunteers who work tirelessly at the disaster scene,” Richard Reed, Senior Vice President, Red Cross Disaster Cycle Services said. “All money donated by the program members and by the general public is essential to our ability to fulfill the mission of the Red Cross.”
Cardinal Health profits increase in first quarter
DUBLIN, Ohio — Cardinal Health had sales of $24.5 billion and profits of $339 million in first quarter 2014, the company said.
The results, announced Thursday, respectively represented a 5% decrease and 25% increase over first quarter 2013.
"We are off to an outstanding start to fiscal 2014, with both segments achieving strong margin expansion and earnings growth in the first quarter," Cardinal Health chairman and CEO George Barrett said. "Our pharmaceutical segment performance demonstrated balance across the business, with robust results in both our generic and branded programs. Our medical segment made excellent progress on its key priorities, building the portfolio of preferred products, achieving results from efficiency initiatives, growing strategic hospital network accounts and integrating the 2013 acquisition of AssuraMed."
Sales in the pharmaceutical segment declined by 7%, to $21.8 billion, as the company expected, due to the Sept. 30, 2012 expiration of a contract with Express Scripts and an Aug. 31, 2013 expiration of a Walgreens contract, though growth in volume from new and existing customers offset the decline. Profits for the segment were $433 million, an 8% increase over last year.
In the medical segment, sales increased by 13%, to $2.7 billion, due to the acquisition of AssuraMed, a distributor of medical products for the home, early in 2013. There was also strong growth in the segment’s hospital network account. Profits were $106 million, a 43% increase over last year.
Rite Aid comps increase in October
CAMP HILL, Pa. — Rite Aid’s same-store sales increased by 2.1% this month compared with October 2012, the retail pharmacy chain said Thursday, also issuing an estimate of the negative effects of Hurricane Sandy on its sales.
The increase included a 0.6% decrease in front-end same-store sales and an increase in pharmacy same-store sales of 3.4%, which were lowered by 0.85% due to introductions of new generic drugs. Same-store script count increased by 1.1%. Total sales for the month were $1.961 billion, a 2.2% increase over October 2012. The chain currently operates 4,599 stores.
For the first 34 weeks of the year, same-store sales decreased by 0.1%, including 0.1% decreases in front-end and pharmacy same-store sales, as well as a 0.2% increase in same-store scripts. Total sales were $16.41 billion, compared with $16.463 billion in October 2012.
According to Rite Aid’s estimates, the cycling of the effects of pre-storm sales on last year’s results reduced front-end same-store sales by 1.4% and same-store scripts by 0.3% due to a benefit from an increase in sales in the days that immediately preceded the storm. The company expects the cycling of the effects of the storm to benefit November sales.