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Week of Mon, Jun 18th, 2012

Rite Aid narrows first quarter loss

Rite Aid Corp. surprised Wall Street with a smaller loss and stronger-than-expected sales during the first quarter of fiscal 2013.

Walgreens to buy Alliance Boots stake

Walgreen Co. has agreed to buy a 45% stake in the global pharmaceutical, health and beauty retailer and wholesaler Alliance Boots for $6.7 billion in cash and stock.

Francis exits J.C. Penney

In an abrupt departure, Michael Francis has left J.C. Penney Co. less than nine months after taking the position of president. No reason was given in a terse, three-sentence press release announcing the move.