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Fred’s

Report: FTC seeks more info on WBA-Rite Aid deal

Report: FTC seeks more info on WBA-Rite Aid deal

Walgreens Boots Alliance and Rite Aid last week said they’ve complied with the Federal Trade Commission’s second request for information on their merger deal. But it appears the FTC still wants to know more. The New York Post reported Tuesday that the FTC has issued civil investigative demands (CIDs) to Walgreens vendors and competitors to

Sales decline at Fred’s Pharmacy

Sales decline at Fred’s Pharmacy

MEMPHIS, Tenn. — Fred’s Pharmacy reported declined sales for April and its fiscal 2017 first quarter, though seasonal business lifted same-store sales for the month. Fred’s said Thursday that sales for the four weeks ended April 29 totaled $159.1 million, down 3% from $163.9 million a year earlier. April same-store sales edged up 1.2% year

Fred’s names two new board members

Fred’s names two new board members

MEMPHIS, Tenn. — Fred’s Inc. has appointed two new board members as part of an agreement with hedge fund Alden Global Capital LLC, the discount and pharmacy chain’s largest shareholder. Fred’s said Monday that Steven Rossi, chief executive officer of Digital First Media, and Timothy Barton, founder and former CEO of Freightquote.com, have been named

Outlook: New landscape for drug chains?

Outlook: New landscape for drug chains?

NEW YORK — Entering the second quarter of 2017, the chain drug industry was awaiting answers to a couple of big, lingering questions. First, what will the chain drug landscape look like? A significant change in the field of players is likely in store pending antitrust clearance of Walgreens Boots Alliance Inc.’s (WBA’s) deal to

WBA’s Pessina still bullish about Rite Aid acquisition

WBA’s Pessina still bullish about Rite Aid acquisition

NEW YORK — Walgreens Boots Alliance Inc. (WBA) executive vice chairman and chief executive officer Stefano Pessina has expressed confidence that the company’s planned merger with Rite Aid Corp. will be approved by the end of July. “I am still optimistic that we will bring this deal to a successful conclusion, but there is no

Fred’s ends fiscal year with net loss, lower sales

Fred’s ends fiscal year with net loss, lower sales

MEMPHIS, Tenn. — Fred’s Inc. reported declined sales and net losses for its 2016 fourth quarter and fiscal year as it awaits regulatory approval to buy up to 1,200 drug stores in connection with the Walgreens-Rite Aid merger. Fred’s said Thursday that sales for the fourth quarter ended Jan. 28, 2017, fell 4.5% to $529.7

Investment community antsy over Walgreens-Rite Aid

Investment community antsy over Walgreens-Rite Aid

Like everyone else waiting for the wrap-up of the Walgreens-Rite Aid merger, investment pundit Jim Cramer of TheStreet.com and CNBC’s “Mad Money” is getting impatient over the plodding antitrust review negotiations. Now approaching its 18th month, Walgreens Boots Alliance’s planned acquisition of Rite Aid has a deal end date of July 31, as per an

WBA readies new proposal for FTC

DEERFIELD, Ill. — Walgreens Boots Alliance Inc. (WBA) is reportedly prepared to sell additional stores and other assets to Fred’s Inc. in an effort to win Federal Trade Commission approval for its merger with Rite Aid Corp. WBA, which had initially agreed to sell 865 Rite Aid stores to Fred’s, is planning to raise that

Fred’s appoints retail veterans to its board

MEMPHIS — Fred’s Inc. recently announced three new members — industry veterans Christopher Bodine, Peter Bocian and Mike Bloom — to its board of directors. At the same time, the company announced the retirement of Michael Hayes, John Eisenman and Jerry Shore from the board. During his 24-year tenure at CVS Caremark Corp., Bodine held

FTC pressed to decide on WBA-Rite Aid deal

FTC pressed to decide on WBA-Rite Aid deal

Walgreens Boots Alliance has gone ahead and set a deadline for the Federal Trade Commission to approve its deal to acquire Rite Aid Corp. According to the New York Post, WBA has “certified compliance” in its application, meaning that it has provided the FTC with the information needed to determine if the Walgreens-Rite Aid merger

WBA reportedly ups ante for Rite Aid deal approval

WBA reportedly ups ante for Rite Aid deal approval

The latest scuttlebutt on the Walgreens-Rite Aid merger: Walgreens Boots Alliance looks to be divesting even more stores and other assets to Fred’s. Citing anonymous sources, Bloomberg reported Tuesday that WBA is “nearing an agreement” to raise the number of stores to sell to Fred’s as well as include distribution centers, software and staff. No

Report: WBA may push FTC on Rite Aid deal decision

Report: WBA may push FTC on Rite Aid deal decision

It has been over 14 months and two deal date extensions since the announcement of Walgreens Boots Alliance’s agreement to acquire Rite Aid Corp. Now WBA may act to push the Federal Trade Commission to come to a decision. The New York Post reported that WBA may claim that it has “certified compliance” in its

Fred’s revamps its board of directors

Fred’s revamps its board of directors

MEMPHIS, Tenn. — Fred’s Inc. has overhauled its board of directors, including the appointment of chief executive officer Michael Bloom and retail industry veterans Christopher Bodine and Peter Bocian as members. Fred’s said Tuesday that Bloom, Bodine and Bocian join the board effective immediately. Former Fred’s CEOs Jerry Shore and Michael Hayes and longtime director