Business in brief
(AP) – Mylan Inc. (MYL) reported Thursday that profit declined by 30 percent in the second quarter, missing analysts’ expectations.
The Southpointe-based generic drug-maker said net income fell to $125.2 million, or 32 cents per share, from $177.7 million, or 46 cents per share, in the same quarter a year earlier.
Earnings, adjusted for one-time gains and costs, came to 69 cents per share. The average estimate of analysts surveyed by Zacks Investment Research was for earnings of 70 cents per share.
Mylan said revenue rose 8 percent to $1.84 billion from $1.7 billion in the same quarter a year earlier, and missed Wall Street forecasts. Analysts expected $1.9 billion, according to Zacks.
Mylan shares have risen $4.52, or 10 percent, to $47.92 since the beginning of the year. Standard & Poor’s 500 index has climbed almost 4 percent.
Jo-Ann Fabric and Craft Store is operating at Washington Crown Center.
It opened Thursday morning in a 15,000-square-foot space, the first of three tenants coming into the North Franklin Township mall this year. Ulta, a cosmetics and fragrance store, and Ross Dress for Less are projected to debut in October or November.
Sara Calderone is team leader of the Crown Center Jo-Ann’s, whose products include clothing textiles, home decor fabrics, scrapbooking tools and quilting materials. Jo-Ann also has instructional classes.
Mall hours are 10 a.m. to 9 p.m. Monday through Saturday and 11 a.m. to 5 p.m. Sunday. Philadelphia-based Pennsylvania Real Estate Investment Trust owns, operates and leases Crown Center.
Another tenant has opened in Park Place at the Meadowlands – sweetFrog, a premium frozen yogurt shop.
It debuted Tuesday in the two-story building behind the BFS Foods superstore, off Route 19 and Racetrack Road. Hours are 11 a.m. to 10 p.m. Sunday through Thursday and 11 a.m. to 11 p.m. Friday and Saturday. Sarah Rockwell is the manager and the phone number is 724-206-0470.
This is the second business to begin operations in that building, following Tender Care Learning Center.
The store is in South Strabane Township, but most of the land under development is in North Strabane Township.
Headquartered in Richmond, Va., sweetFrog is new to Washington County and relatively new to the region. The nearest stores are in Uniontown, Morgantown, W.Va., and New Castle.