MEMPHIS, Tenn. — Fred’s Pharmacy reported decreased revenue and same-store sales for June but noted positive results in its pharmacy business. Fred’s said Thursday that for the five weeks ended July 1, sales totaled $197.5 million, down 5.3% from $208.5 million a year earlier. The company attributed the decline the closing of 39 underperforming stores
DEERFIELD, Ill. — Analysts said Walgreens Boots Alliance turned in a solid third quarter and stands to emerge on a positive note from its new deal with Rite Aid Corp. upon the termination of their merger. For the third quarter ended May 31, WBA posted net earnings (GAAP) of $1.16 billion, or $1.07 per diluted
CAMP HILL, Pa. — Aside from its terminated merger deal with Walgreens Boots Alliance (WBA), Rite Aid Corp. reported a net loss and declined sales for its fiscal 2018 first quarter. For the first quarter ended June 3, Rite Aid had a net loss of $75.35 million (GAAP), or 7 cents per diluted share, compared
CAMP HILL, Pa. — Rite Aid Corp. last month celebrated the grand reopening of its 14,000-square-foot Market Street store inside Strawberry Square, a 1 million-square-foot, mixed-use complex in the heart of downtown Harrisburg, Pa. Mayor Eric Papenfuse joined Rite Aid executive vice president of store operations Bryan Everett and other company and community officials at
Twenty months ago, Walgreens Boots Alliance announced a $17.2 billion deal to acquire Rite Aid Corp. On Thursday, in the wake of a protracted antitrust review by the Federal Trade Commission, the two companies opted to call of the Walgreens-Rite Aid merger and struck a new agreement. Under the new deal, WBA is slated to
DEERFIELD, Ill. — The long, drawn-out quest of Walgreens Boots Alliance Inc. (WBA) to acquire Rite Aid Corp. took another unexpected turn this morning when the two companies announced a new agreement under which WBA will purchase 2,186 stores, three distribution centers and related inventory from Rite Aid. The price will be $5.175 billion in
CAMP HILL, Pa. — Rite Aid Corp. is officially reopening its relocated Harrisburg Market Street store, now remodeled to the drug chain’s Wellness Store format. On Tuesday morning, Rite Aid plans a grand reopening ceremony for the 14,000-square-foot store, now situated at 304 Market Street inside Strawberry Square, a 1 million-square-foot, mixed-use center in the
MEMPHIS, Tenn. — Fred’s Pharmacy has procured $550 million in additional funding for its deal to buy up to 1,200 Rite Aid stores in connection with the Walgreens-Rite Aid merger. In an 8-K filing with the Securities and Exchange Commission yesterday, Fred’s said that for a second time it has amended and restated a commitment
NEW YORK — In a memo to employees this week, Rite Aid Corp.’s top executives appear to acknowledge that the company’s acquisition by Walgreens Boots Alliance (WBA) may not be cleared by the Federal Trade Commission. “We remain actively engaged in discussions with the FTC to attempt to gain regulatory approval, and there can be
HOUSTON — RediClinic has launched a redesigned website that aims to make it easier for people to access care as well as information on its services and health topics. The Rite Aid Corp. retail clinic subsidiary said Tuesday that at the new RediClinic.com, patients can make an appointment with one click, customize their RediClinic experience,
MEMPHIS, Tenn. — Fred’s Pharmacy posted a fiscal 2017 first-quarter net loss, stemming largely from charges related to store closings and its planned purchase of at least 865 Rite Aid stores. Fred’s said Tuesday that for the first quarter ended April 29, the company had a net loss of $36.5 million, or 98 cents per
DEERFIELD, Ill. — Walgreens Boots Alliance Inc. (WBA) has taken action to force the hand of federal regulators deciding whether to approve its pending acquisition of Rite Aid Corp. WBA and Rite Aid last month notified the Federal Trade Commission that they have complied with the agency’s second request for information on the deal. While
A new video from Rite Aid emphasizes the importance of staying up to date on recommended vaccinations, including the pneumonia vaccine. In the clip, a Rite Aid certified immunizing pharmacist notes that seniors are at a higher risk of catching pneumonia, which afflicts about 900,000 Americans annually, and the chain provides the shot at its
MEMPHIS, Tenn. — Fred’s Pharmacy saw same-store sales edge up in May, though store closings led to a year-over-year revenue decline for the month. Fred’s said Thursday that sales for the four weeks ended May 27 totaled $160.1 million, down 3.1% from $165.2 million a year earlier. The company attributed the sales decrease to the closure
