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Analysts size up new WBA-Rite Aid deal

Analysts size up new WBA-Rite Aid deal

NEW YORK — The impending closure of Walgreens Boots Alliance’s purchase of nearly 2,000 Rite Aid stores will clear the fog around both companies since their terminated merger deal and enable them to move ahead, Wall Street analysts say. WBA and Rite Aid yesterday announced that the Federal Trade Commission approved a downsized agreement in

Report: WBA to fine-tune Rite Aid store deal

Report: WBA to fine-tune Rite Aid store deal

NEW YORK — Walgreens Boots Alliance (WBA) reportedly is modifying its agreement to buy 2,186 stores from Rite Aid Corp. to gain Federal Trade Commission approval for the deal, reached upon the termination of their planned merger. Bloomberg reported early Monday that WBA is winding down talks with the FTC and could soon unveil an

CVS to deploy health-and-wellness vending machines

CVS to deploy health-and-wellness vending machines

WOONSOCKET, R.I. — Over the coming weeks, CVS Pharmacy plans to roll out automated vending machines selling “better-for-you” snacks, personal care items and over-the-counter health products in high-traffic public venues. CVS said Thursday that the first 25 CVS Pharmacy vending machines will be deployed in New England and New York through the end of October.

Fred’s appoints new chairman, posts 2Q net loss

Fred’s appoints new chairman, posts 2Q net loss

MEMPHIS, Tenn. — Fred’s Inc. has named recently added board member Heath Freeman, president and founding member of Alden Global Capital LLC, as chairman. Also on Wednesday, Fred‘s reported a net loss for its fiscal 2017 second quarter. Adjusted earnings per share (EPS) were in line with Wall Street’s forecast. Freeman, who joined the Fred’s

Walmart ups Hurricane Harvey aid to $20 million

Walmart ups Hurricane Harvey aid to $20 million

HOUSTON — In response to the devastation in the Texas Gulf Coast region, Walmart and the Walmart Foundation are donating up to $20 million to support Hurricane Harvey relief efforts. Walmart said Wednesday evening that its support includes $10 million for American Red Cross shelters and $2 million for the Hurricane Harvey Relief Fund at

Rite Aid adopts ECRM’s RangeMe platform

Rite Aid adopts ECRM’s RangeMe platform

SAN FRANCISCO — Rite Aid Corp. is enlisting the RangeMe online product discovery and buying platform for a major initiative to scale its product innovation efforts. San Francisco-based RangeMe, recently acquired by Efficient Collaborative Retail Marketing (ECRM), said Tuesday that its platform will enable Rite Aid’s category buying teams to source trending, consumer-ready products faster and more

Walmart, Kroger part of major food safety project

Walmart, Kroger part of major food safety project

ARMONK, N.Y. — Walmart and Kroger Co., two of the nation’s biggest retailers, are participating in a major blockchain collaboration with IBM Corp. and food companies to bolster consumer confidence in the global food system. IBM said Tuesday that is working with the consortium — also including Dole, Driscoll’s, Golden State Foods, McCormick and Co.,

WBA, Rite Aid to reset waiting period for store deal

WBA, Rite Aid to reset waiting period for store deal

NEW YORK — Walgreens Boots Alliance Inc. and Rite Aid Corp. are rescheduling the waiting period for a downsized store sale agreement reached upon the termination of their planned merger. According filings with the Securities and Exchange Commission yesterday, WBA and Rite Aid agreed to withdraw their initial Hart-Scott-Rodino (HSR) Antitrust Improvements Act notification and

McKesson Canada names president of Rexall

McKesson Canada names president of Rexall

MISSISSAUGA, Ontario — Sobeys Inc. executive Beth Newlands Campbell is joining McKesson Canada as president of Rexall Drugstore. McKesson Canada said Friday that Newlands Campbell, most recently president of the Atlantic/Ontario business unit at Sobeys, is slated to start in her new post at Rexall on Aug. 8. As Rexall’s president, Newlands Campbell will lead

Rite Aid looks ahead to stronger store base

Rite Aid looks ahead to stronger store base

CAMP HILL, Pa. — Rite Aid Corp. has provided a more detailed picture of its store base after the expected closing of its deal to sell nearly half its stores to Walgreens Boots Alliance (WBA). In a filing with the Securities and Exchange Commission, Rite Aid said it would have 2,336 stores following the sale

Walgreens Boots Alliance sees solid 3Q results

Walgreens Boots Alliance sees solid 3Q results

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

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