Consumer Business Recap: Apple’s App Store, Walgreen Misses the Flu
Apple (NASDAQ:AAPL) announced on Sunday that, since its app store was first introduced in 2008, more than 25 billion apps have been downloaded from it. This follows the company’s comments last week that its ‘app economy had created 210,000 U.S. jobs’.
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A milder flu season has impacted Walgreen’s (NYSE:WAG) February prescriptions numbers. The drugstore says it filled 9.5 percent fewer prescriptions during that month compared to the same period last year. Also blamed was the impact of the impasse with Express Scripts. Calendar year-to-date sales totalled $11.64 billion, which was a 0.6 percent year-to-year decrease.
India has banned the export of its cotton, but that didn’t seem to weigh U.S. clothing retailers down Monday. Shares of Gap (NYSE:GPS), Urban Outfitters (NASDAQ:URBN), American Eagle Outfitters (NYSE:AEO), Abercrombie & Fitch (NYSE:ANF), and The Buckle (NYSE:BKE) were all up at midday.
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Barron’s is still bullish on Tiffany’s (NYSE:TIF), saying that the company’s fundamentals are still relatively strong, and that as the world economy improves they should move higher as well. Tiffany shares had fallen 20 percent since mid-2011, for which disappointing holiday sales and the economy were blamed, but an Oppenheimer analyst cites an historic correlation between TIF and the S&P 500, and expects that the pattern will resume, perhaps in the near term.
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