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$WBA appointed Sebastian James as SVP and President and Managing Director of Boots. He also will be joining the company in the summer of 2018 and taking up his new role at the beginning of the new fiscal year on Sept. 1. Elizabeth Fagan, who has led Boots since June 2016, will become new Non-Executive Chairman of Boots in the new fiscal year.
$PARR said a wholly-owned subsidiary of Par Petroleum LLC has agreed to acquire 33 Cenex Zip Trip convenience stores from CHS Inc. for approx. $70MM plus the agreed value of inventory at closing. $PARR expects adjusted EBITDA from the acquired stores to be about $7-7.5MM in the first full year of operations. The deal is expected to close in 1Q18.
$LC said on Jan. 2, 2018, its BoD received a letter from IEG Holdings Corporation, stating its intention to acquire up to 4.99% of the outstanding common stock of $LC on the basis of 13 shares of IEG common stock for each share of $LC common stock. On Jan. 5, IEG commenced its proposed exchange offer, which $LC’s BoD urges stockholders to ignore.
$WBA stated that its beauty differentiation stores performed stronger in 1Q18 than in prior quarters. Additionally, the company's beauty category sales in these stores continued to be markedly better than in other stores, resulting in higher retail gross margin and higher comparable retail sales.
$WBA's all three segments reported an increase in sales in 1Q18 with Retail Pharmacy USA segment's pharmacy sales, which accounts for 72.4% of the division's sales, increasing 14.1%, driven by high prescription volumes. Retail Pharmacy International's sales rose 4.1% to $3.1Bil, while Pharmaceutical Wholesale sales jumped 5.6% to $5.7Bil.
$WBA raised the lower end of its FY18 guidance by $0.05 per share and now expects adjusted diluted net EPS in the range of $5.45-5.70. This guidance does not take into account any impact from the recent U.S. tax legislation and assumes current exchange rates for the rest of the fiscal year.
Pharmacy chain $WBA posted a 22.1% slump in its 1Q18 profit, bruised by impairment of the company's equity method investment in Guangzhou Pharmaceuticals Corporation. Profit slumped to $821MM or $0.81 per share from $1.05Bil or $0.97 a year earlier. Sales, however, jumped 7.85% to $30.7Bil. On an adjusted basis, $WBA earned $1.28 per share.
$TGNA appointed Brad Ramsey as president and general manager of WFAA in Dallas, TX. Ramsey will replace Michael Devlin who previously announced his retirement. Devlin will remain at WFAA through early February to ensure a smooth transition.
$ANTM completed the acquisition of Florida-based HealthSun, that provides managed healthcare plans. Financial terms of the deal remained undisclosed. With the addition of HealthSun, $ANTM's affiliated Medicare and Medicaid plans now serve more than 650,000 consumers in Florida. This deal is expected to be slightly accretive to earnings in 2018.
Media company $TGNA has signed an agreement to acquire the broadcasting stations of Midwest Television, Inc. in San Diego for $325MM in cash. The assets comprise KFMB-TV, KFMB-D2 and radio broadcast stations KFMB-AM and KFMB-FM. The transaction is expected to be accretive to TEGNA's EPS by a few cents in the first 12 months after close.
For FY18, $TREE expects revenue to be $770-790MM, representing growth of 27-30% over the high-end of full-year 2017 guidance of $608MM. Variable Marketing Margin is anticipated to be $270-280MM. Adjusted EBITDA is anticipated to be $145-150MM, up 28-33% over the high-end of full-year 2017 guidance of $113MM.