SPAR Group, Inc. stock price

SPAR Group, Inc. latest news:


  • 09/19/2017 06:21:47

    Walgreens cleared to purchase 1,900-plus Rite Aid stores and more for $4.4 billion

    Walgreens Boots Alliance Inc. said Tuesday that it has gotten regulatory approval to purchase Rite Aid Corp. assets including 1,932 stores, three distribution centers and related inventory for $4.375 billion in cash. This deal updates the terms of the June 2017 agreement, which was a $5.175 billion deal for 2,186 stores. Store purchases are expected to start in October and complete in spring 2018, and will focus primarily on the northeast and southern U.S. The three distribution centers, which won't begin their transition for at least a year, are in Dayville, Conn., Philadelphia, and Spartanburg, S.C. Walgreens will assume certain limited-store liabilities in the transaction, the related leases and give Rite Aid the option to become a member of the Walgreens Boots Alliance's group purchasing organization, which Rite Aid can exercise through May 2019. After the stores are acquired, they are expected to be converted to the Walgreens brand. The deal is not expected to impact adjusted earnings per share in the fiscal year ending August 2018. The company expects synergies of more than $300 million, fully realized within four years of the initial closing. Walgreens shares are unchanged in premarket trading and up 2.2% for the past year. Rite Aid shares are up 2.2% in premarket trading, but down 66% for the last year. And the S&P 500 index is up 17.1% for the past 12 months. Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

  • 08/14/2017 14:27:21

    BRIEF-Spar Group Q2 earnings per share $0.02

    Spar Group Inc(SGRP): * Spar Group announces financial results for the second quarter ended June 30, 2017. * Q2 earnings per share $0.02. * Q2 revenue $43 million Source text for Eikon: Further company coverage:

  • 07/20/2017 06:27:20

    Sherwin-Williams misses on profit, offers soft outlook as it books charges for Valspar deal

    Shares of paint maker The Sherwin-Williams Co. slid 5.5% Thursday, after the company posted weaker-than-expected profit for the second quarter and offered soft guidance for the full year as it books charges for its acquisition of Valspar. The company said it had net income of $319.1 million, or $3.36 a share, in the second quarter, down from $378.1 million, or $3.99 a share, in the year-earlier period. Adjusted per-share earnings came to $3.80, well below the FactSet consensus of $4.56. The adjusted number includes charges related to the acquisition of Valspar, which closed on June 1. Sales rose 16% to $3.74 billion, just ahead of the FactSet consensus of $3.72 billion. The company said the Valspar deal has led it to change its reporting structure into three new operating segments; the Americas group will house Sherwin-Williams' previous paint stores group and Latin American coatings group; the consumer brands group will house consumer paint businesses of both companies; and the performance coatings group will house Sherwin-Williams' and Valspar's coatings group and automotive refinishes products business. The company said it expects Sherwin-Williams' core net sales to fall by a low to mid single digit percentage in the third quarter. It expects incremental sales from Valspar to be about $1 billion. EPS is expected to range from $3.70 to $4.10 in the quarter, including a $1.10 per share charge related to the acquisition. The current FactSet consensus is for third-quarter EPS of $4.96. For the full year, Sherwin-Williams's sales are expected to fall by a mid single digit percentage compared to 2016, while Valspar sales are expected to total about $2.4 billion. "With annual sales at that level, we are updating our guidance for full year 2017 diluted net income per common share to be in the range of $12.30 to $12.70 per share compared to $11.99 per share earned in 2016," said the company. That includes a $2.50 per share charge for acquisition costs. The current FactSet consensus is for full-year EPS of $14.17. Shares have gained 34% in 2017 through Wednesday, while the S&P 500 has gained 10.5%. Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

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