CAMP HILL, Pa. — Comparable-store sales continued to edge down at Rite Aid Corp. in February, but the drug chain reported sales gains for its 2016 fiscal year. Rite Aid said Thursday that for the five weeks ended Feb. 27, same-store sales in its retail pharmacy segment dipped 0.8% year over year. That followed comp-store
CAMP HILL, Pa. — Rite Aid Corp. stockholders voted overwhelmingly this month to approve the company’s $17.2 billion acquisition by Walgreens Boots Alliance Inc. (WBA). Some 97% of the votes cast at a special meeting of stockholders were in favor of the deal. A quorum of 72% of Rite Aid’s total outstanding shares of common
NEW YORK — Stefano Pessina likes what he sees after Walgreens Boots Alliance (WBA) finished its first full year as a unified company. WBA’s executive vice chairman and chief executive officer told shareholders at its annual meeting here that the company expects its deal to acquire Rite Aid Corp. and its partnership with Valeant Pharmaceuticals
CAMP HILL, Pa. — Rite Aid Corp. stockholders have voted overwhelmingly to approve the company’s $17.2 billion deal to be acquired by Walgreens Boots Alliance Inc. Approximately 97% of the votes cast at a special meeting of stockholders on Thursday were in favor of the deal. A quorum of 72% of Rite Aid’s total outstanding
NEW YORK — Walgreens Boots Alliance’s deal to acquire Rite Aid and partnership with Valeant Pharmaceuticals will build on WBA’s strong start in its first full year as a unified company, executive vice chairman and CEO Stefano Pessina said here at the annual shareholders meeting. “I am happy to say that we are on track
The new year has begun inauspiciously for chain drug retailing, an industry that is still trying to assess the results of the just completed Christmas selling season. By all accounts, December was a month of no great accomplishments, even if it was not the disaster some observers predicted. Now it’s on to 2016, and the
DEERFIELD, Ill. — Walgreens Boots Alliance (WBA) topped Wall Street’s earnings projections for its fiscal 2016 first quarter. WBA said Thursday that for the first quarter ended Nov. 30, 2015, adjusted net earnings attributable to Walgreens Boots Alliance were $1.13 billion, or $1.03 per diluted share, compared with $749 million, or 78 cents per diluted
DEERFIELD, Ill. — When asked what motivates him, Stefano Pessina, the driving force behind the creation of Walgreens Boots Alliance (WBA), says simply, “I like to build things.” The understated elegance of the response typifies the man, but it underplays the magnitude of his achievement. A savvy dealmaker, Pessina, who has a degree in nuclear
For 2015, the editors of Chain Drug Review have chosen to give the publication’s annual Retailer of the Year honors to two chain drug retail industry leaders: Stefano Pessina, executive vice chairman and CEO of Walgreens Boots Alliance Inc., and the management team at Rite Aid Corp., led by chairman and CEO John Standley. Pessina’s
CAMP HILL, Pa. — Rite Aid Corp. stockholders will vote next month on the company’s merger with Walgreens Boots Alliance (WBA). Rite Aid has scheduled a February 4 special stockholders meeting for the balloting. Stockholders as of the close of business on December 18 will be eligible to vote. Rite Aid and WBA also announced
In many significant ways, the chain drug store business looks very different at the start of 2016 than it did a year ago. Walgreens Boots Alliance, which emerged from a two-step merger process at the close of 2014, spent the past 12 months rationalizing operations in the United States and developing synergies with its retail
DEERFIELD, Ill. — Walgreens Boots Alliance (WBA) Inc. has completed $12.8 billion in term loan facilities as part of the financing for its $17.2 billion deal to acquire Rite Aid Corp. WBA said Monday that the transactions include the placement of $5 billion of term loan facilities — split between two tranches of $2.5 billion
CAMP HILL, Pa. — Rite Aid Corp. posted fiscal 2016 third-quarter adjusted earnings in line with Wall Street estimates and announced a special shareholders meeting to vote on its $17.2 billion deal to be acquired by Walgreens Boots Alliance Inc. Rite Aid said Thursday that for the third quarter ended Nov. 28, net income totaled
DEERFIELD, Ill., and CAMP HILL, Pa. —The Federal Trade Commission has requested additional information from Walgreens Boots Alliance (WBA) Inc. and Rite Aid Corp. regarding WBA’s proposed acquisition of Rite Aid. WBA and Rite Aid said Friday that the second request for information, made under the notification requirements of the Hart-Scott-Rodino Antitrust Improvements Act, extends
