February 16, 2017 by CDR Blog and Chain Drug Review
Abbott "Tad" Lipsky, Federal Trade Commission, Fred's, FTC Bureau of Competition, Maureen Ohlhausen, New York Post, Walgreens-Rite Aid deal, Walgreens-Rite Aid merger
CDR Blog
After being announced well over a year ago and endless speculation, it looks like the Federal Trade Commission is set to sign off on Walgreens Boots Alliance’s planned acquisition of Rite Aid Corp. The New York Post reported late Wednesday evening that WBA is bullish that it’s latest store divestiture proposal will sway the FTC
February 14, 2017 by Chain Drug Review
Fred's, Gregory Froton, Kimberley Felice-Dooley, Michael Bloom, Steve Wuebker
Business, Leading Headlines, Retail News
MEMPHIS, Tenn. — Fred’s Inc. has appointed senior vice presidents for general merchandise and consumables merchandising, including the hiring of a former CVS Health executive, and named a senior vice president to oversee its supply chain. The discount and pharmacy retailer said late Monday that Gregory Froton has joined the company as senior VP of
February 6, 2017 by Chain Drug Review
drug store marketplace, Federal Trade Commission, Fred's, Rite Aid, Rite Aid stores, Walgreens Boots Alliance, Walgreens-Rite Aid merger
Business, Leading Headlines, Retail News
MEMPHIS, Tenn. — Fred’s Inc. has amended a revolving credit facility in the event that it must acquire additional Rite Aid stores in connection with the pending Walgreens-Rite Aid merger. According to a filing with the Securities and Exchange Commission, Fred’s is increasing its revolving loan commitment to $225 million from $150 million. Among other
February 6, 2017 by Geoff Walden and Chain Drug Review
CVS Health, David Denton, Edith Ramirez, Federal Trade Commission, Fred's, Maureen Ohlhausen, Rite Aid, Stefano Pessina, Terrell McSweeny, Walgreens Boots Alliance, Walgreens-Rite Aid merger
2017, Issue 02-06-2017, Issues, News
WASHINGTON — The acquisition of Rite Aid Corp. by Walgreens Boots Alliance (WBA) Inc. remained unconsummated after WBA’s plan to divest 865 stores failed to erase antitrust regulators’ competitive concerns. When the Friday, January 27, deadline for completing the Walgreens-Rite Aid merger deal arrived, the Federal Trade Commission still hadn’t cleared the transaction, despite the
February 2, 2017 by Chain Drug Review
Fred's, Michael Bloom, Rite Aid, Walgreens Boots Alliance, Walgreens-Rite Aid merger
Business, Featured Articles, Leading Headlines, Retail News
MEMPHIS, Tenn. — Sales continued to slide at Fred’s Inc., as the discount and pharmacy retailer reported decreases for its fiscal 2016 fourth quarter and full year and January 2017. Fred’s said Thursday that January sales totaled $148.1 million, down 5.6% from $156.9 million a year earlier. Same-store sales for the month fell 4.8%, compared
January 31, 2017 by Chain Drug Review
Cerberus Capital Management, Federal Trade Commission, Fred's, Fred's Pharmacy, Rite Aid, Walgreens Boots Alliance, Walgreens-Rite Aid merger
Business, Featured Articles, Leading Headlines, Retail News
MEMPHIS, Tenn. — Fred’s Inc. has reaffirmed its $950 million deal to buy 865 Rite Aid stores to be divested for antitrust clearance of Walgreens Boots Alliance’s pending acquisition of Rite Aid Corp. Fred’s said late Monday that “the asset purchase agreement it entered into on Dec. 19, 2016, with Walgreens and Rite Aid remains
January 27, 2017 by CDR Blog and Chain Drug Review
Cerberus Capital Management, Federal Trade Commission, Fred's, Rite Aid, Walgreens, Walgreens Boots Alliance, Walgreens-Rite Aid merger
CDR Blog
As the clock winds down on today’s deal end date for the Walgreens-Rite Aid merger, a report of a new potential player has emerged. Citing anonymous sources, the New York Post reported Friday that private equity firm Cerberus Capital Management has expressed interest in the 865 Rite Aid stores that Walgreens Boots Alliance and Rite
January 26, 2017 by Chain Drug Review
Fred's, Rite Aid, Stefano Pessina, Walgreens Boots Alliance, Walgreens-Rite Aid merger, WBA's annual shareholders meeting
Business, Featured Articles, Leading Headlines, Retail News
NEW YORK — Walgreens Boots Alliance (WBA) is still negotiating with the Federal Trade Commission to gain antitrust clearance for its $17 billion deal to acquire Rite Aid Corp., WBA executive vice chairman and chief executive officer Stefano Pessina said at the company’s annual shareholders meeting. “The FTC is doing its job. The process is
January 20, 2017 by CDR Blog and Chain Drug Review
Federal Trade Commission, Fred's, Rite Aid, Rite Aid shares, Walgreens, Walgreens Boots Alliance, Walgreens-Rite Aid merger
CDR Blog
Trading of Rite Aid shares was briefly halted on the New York Stock Exchange on Friday when the stock price sank following published reports that the Federal Trade Commission is iffy about antitrust concessions for approval of the Walgreens-Rite Aid merger. Rite Aid shares suspended trading after dropping 18% but resumed minutes later, TheStreet.com reported.
January 6, 2017 by Chain Drug Review
Fred's, Michael Bloom
Business, Leading Headlines, Retail News
MEMPHIS, Tenn. — Fred’s Inc. saw revenue and same-store sales decrease in December. The discount store and pharmacy chain said that for the five weeks ended Dec. 31, sales totaled $222.9 million, down 3.9% from $232 million a year earlier. For the month, same-store sales fell 3.4% versus a gain of 2.4% in the prior-year period.
January 5, 2017 by Chain Drug Review
Fred's, Rite Aid, Stefano Pessina, Walgreens Boots Alliance, Walgreens-Rite Aid merger, WBA
Business, Featured Articles, Leading Headlines, Retail News
DEERFIELD, Ill. — Walgreens Boots Alliance (WBA) edged past Wall Street’s adjusted earnings per share forecast in its fiscal 2017 first quarter despite declined sales and net income. WBA also reported Thursday that it’s still working to finalize its $17 billion deal to acquire Rite Aid Corp. and continues to expect to complete the transaction
January 2, 2017 by Greg Jacobson and Chain Drug Review
Alex Gourlay, Brian Tanquilut, Fred's, Jefferies LLC, Rite Aid, Stefano Pessina, Walgreens Boots Alliance, Walgreens-Rite Aid merger
2017, Issue 01-02-2017, Issues, News
NEW YORK — Walgreens Boots Alliance Inc. (WBA) and Rite Aid Corp. have agreed to sell 865 Rite Aid stores and related assets to Fred’s Inc. for $950 million in cash. The deal is subject to approval by the Federal Trade Commission as well as approval and completion of the pending WBA acquisition of Rite
January 2, 2017 by Jeffrey Woldt and Chain Drug Review
Fred's, Jeffrey Woldt, John Standley, Ken Martindale, Mike Bloom, Rite Aid, sale of the Rite Aid stores to Fred’s, Stefano Pessina, Walgreens Boots Alliance, Walgreens-Rite Aid merger
2017, Issue 01-02-2017, Issues, Opinion
The agreement struck last month for the sale of 865 Rite Aid Corp. drug stores to Fred’s Inc. is a momentous development for those companies, as well as Walgreens Boots Alliance, which after 14 months is still working to finalize the acquisition of Rite Aid. The $950 million all-cash deal will bring Fred’s stores and
January 2, 2017 by David Pinto and Chain Drug Review
Albertsons, chain drug industry, chain drug retailing, CVS, David Pinto, Fred's, mass retailing business, Rite Aid, Target, Walgreens Boots Alliance, Walmart
2017, Issue 01-02-2017, Issues, Opinion
The new year is finally here. On balance, 2016 was a year best forgotten. Very few events of a positive nature will be remembered. On the other hand, many unsettling moments would best be reviewed at another time — if at all. As 2017 dawns, several important questions remain to be resolved, a few of