Wholesale sales rose 1.5 per cent in April to $49.3-billion, soaring well above expectations mainly due to a huge increase in sales of agricultural supplies, Statistics Canada reported Tuesday. But excluding the 48.5 per cent increase in agriculture supplies, overall sales were unchanged from March, the federal agency said. The second biggest advance was a 1.1-per-cent rise in the machinery, equipment and supplies subsector, which partly offset a March decline. Sales in the building material and supplies subsector rose 0.5 per cent and the motor vehicle and parts subsector gained 0.2 per cent. The largest sales decrease in dollar terms came in the personal and household goods subsector, which dropped 2.2 per cent on lower sales in the pharmaceuticals and pharmacy supplies industry. In April, seven provinces recorded growth in wholesale sales, including the four western provinces. The average analyst estimate had been for a slight, 0.2 per cent increase, CIBC World Markets said in a note. However, a huge shipment of fertilizers in April marked a restart to potash sales and exports following a soft first quarter and has confirmed that Q2 should benefit from restarts to stalled resource activity, the bank said. The 1.3-per-cent increase in wholesale volumes … Continue reading →

OTTAWA Wholesale sales rose 1.5%i n April to $49.3-billion, soaring well above expectations mainly due to a huge increase in sales of agricultural supplies, Statistics Canada reported Tuesday. But excluding the 48.5% increase in agriculture supplies, overall sales were unchanged from March, the federal agency said. The second biggest advance was a 1.1% rise in the machinery, equipment and supplies subsector, which partly offset a March decline. Sales in the building material and supplies subsector rose 0.5% and the motor vehicle and parts subsector gained 0.2%. The largest sales decrease in dollar terms came in the personal and household goods subsector, which dropped 2.2% on lower sales in the pharmaceuticals and pharmacy supplies industry. In April, seven provinces recorded growth in wholesale sales, including the four western provinces. The average analyst estimate had been for a slight, 0.2% increase, CIBC World Markets said in a note. However, a huge shipment of fertilizers in April marked a restart to potash sales and exports following a soft first quarter and has confirmed that Q2 should benefit from restarts to stalled resource activity, the bank (TSX:CM) said. The 1.3% increase in wholesale volumes suggests that April GDP will get a hearty helping hand … Continue reading →

By Nirmala Menon OTTAWA--Canada's April wholesale sales trounced expectations to grow at the fastest monthly rate in nearly a year as soaring exports of fertilizers helped drive the largest gain in sales of agricultural supplies since May 2008. Wholesale sales grew 1.5% - the most since May 2011 - to 49.35 billion Canadian dollars (US$48.19 billion), Statistics Canada said Tuesday. The consensus call was for a tepid 0.2% increase, according to a report from Royal Bank of Canada. March's gain was revised down to 0.3% from 0.4%. The figures are seasonally adjusted. Sales volume in April rose 1.3%, the most since July 2011, suggesting that wholesale trade will be a key contributor to monthly gross domestic product figures due at the end of the month. Wholesalers in the agricultural supplies industry reported a 48.5% jump in sales, which coincided with a 51.8% surge in exports of fertilizers and fertilizer materials. As a result sales in the miscellaneous sector, which includes agricultural supplies, were up 12.8%. Excluding agricultural supplies, overall wholesale sales were unchanged, StatsCan said. Wholesalers of machinery, equipment and supplies reported a 1.1% increase, while sales in the building materials and supplies sector were up 0.5%. Wholesalers of motor … Continue reading →

By The Canadian Press OTTAWA - Wholesale sales rose 1.5 per cent in April to $49.3 billion, soaring well above expectations mainly due to a huge increase in sales of agricultural supplies, Statistics Canada reported Tuesday. But excluding the 48.5 per cent increase in agriculture supplies, overall sales were unchanged from March, the federal agency said. The second biggest advance was a 1.1 per cent rise in the machinery, equipment and supplies subsector, which partly offset a March decline. Sales in the building material and supplies subsector rose 0.5 per cent and the motor vehicle and parts subsector gained 0.2 per cent. The largest sales decrease in dollar terms came in the personal and household goods subsector, which dropped 2.2 per cent on lower sales in the pharmaceuticals and pharmacy supplies industry. In April, seven provinces recorded growth in wholesale sales, including the four western provinces. The average analyst estimate had been for a slight, 0.2 per cent increase, CIBC World Markets said in a note. However, a huge shipment of fertilizers in April marked a restart to potash sales and exports following a soft first quarter and has confirmed that Q2 should benefit from restarts to stalled resource activity, … Continue reading →

NEW YORK & LONDON--(BUSINESS WIRE)-- Kohlberg Kravis Roberts & Co. L.P. (together with its affiliates, KKR) announced that Walgreen Co. (WAG) (WAG), the largest drug store chain in the US, and Alliance Boots GmbH, the leading international pharmacy-led health and beauty group, have agreed to form a strategic partnership to create the first global pharmacy-led, health and wellbeing enterprise. In 2007, we made a commitment to accelerate the development of Alliance Boots. Following five years of successful performance, both in the UK and overseas, the company is now in a better position than ever before. The partnership announced today is about building upon that success and laying the foundation for future growth, said Dominic Murphy, Member of KKR, who leads KKRs activities in The United Kingdom and Ireland. KKR made its investment in Alliance Boots in 2007 in partnership with Stefano Pessina, Executive Chairman of Alliance Boots. Since then, Alliance Boots has delivered strong growth, building a presence in more than 25 countries and employing over 116,000 people. Alliance Boots pharmacy-led health and beauty retail businesses now operate more than 3,330 health and beauty retail stores in 11 countries and its pharmaceutical wholesale businesses supply medicines, other healthcare products and … Continue reading →

Statistics Canada says wholesale sales rose at the fastest pace in almost a year in April, driven by increasing demand for agricultural supplies. The agency says wholesale sales rose 1.5 per cent in April to $49.3 billion, mainly due to a 48.5 per cent increase in sales of agricultural supplies. Excluding that industry, overall sales were unchanged from March. Wholesales sales are sales of goods and services between businesses and institutions, before they've reached the retail or consumer level. They are considered a leading indicator of consumer demand down the line. Next to agriculture, the second biggest advance was a 1.1 per cent rise in the machinery, equipment and supplies subsector, which partly offset a March decline. Sales in the building material and supplies subsector rose 0.5 per cent and the motor vehicle and parts subsector gained 0.2 per cent. The largest sales decrease in dollar terms came in the personal and household goods subsector, which dropped 2.2 per cent on lower sales in the pharmaceuticals and pharmacy supplies industry. In April, seven provinces recorded growth in wholesale sales, including the four western provinces. Read more: Wholesale trade expands at faster pace … Continue reading →

DEERFIELD, Ill.--(BUSINESS WIRE)-- Walgreen Co. (WAG) (WAG), the largest drug store chain in the U.S., and Alliance Boots GmbH, the leading international pharmacy-led health and beauty group, today announce that they have entered into a strategic transaction designed to bring together the strengths and expertise of both companies to create the first global pharmacy-led, health and wellbeing enterprise. This transaction will bring together two great companies with iconic brands, complementary geographic footprints, shared values and a heritage of trusted healthcare services, through pharmaceutical wholesaling and community pharmacy care, dating back over 100 years. Walgreens and Alliance Boots are the largest retail pharmacy, health and daily living destinations in the U.S. and Europe, respectively, and together they would be: Together Walgreens and Alliance Boots would have: Walgreens will invest approximately $6.7 billion in cash and stock (comprised of $4.0 billion in cash and 83.4 million shares) in exchange for a 45% equity ownership stake in Alliance Boots. Walgreens will have the option to proceed to a full combination by acquiring the remaining 55% of Alliance Boots in approximately three years time. At the current Walgreens share price and at a $1.55=1 exchange rate, the second step of the transaction would be … Continue reading →