CAMP HILL, Pa. — Rite Aid Corp. said slim reimbursement rates, new generic drugs and the ongoing antitrust talks for the merger with Walgreens Boots Alliance (WBA) squeezed sales and earnings for its fiscal 2017 third quarter. Rite Aid said Thursday that for the third quarter ended Nov. 26, sales dipped 0.8% to $8.09 billion
NEW YORK — Walgreens Boots Alliance Inc. (WBA) and Rite Aid Corp. have entered into an agreement to sell 865 Rite Aid stores and certain assets related to store operations to Fred’s Inc. for $950 million. The all-cash transaction is subject to Federal Trade Commission approval, as well as the completion of the pending acquisition
DEERFIELD, Ill. — Walgreens Boots Alliance Inc. (WBA) and Rite Aid Corp. have lengthened the time frame for completing their planned $17.2 billion merger. The companies this month extended the deal’s end date to January 27 from October 27 and said they expect the transaction to close early next year. Under the agreement, WBA and
DEERFIELD, Ill., and CAMP HILL, Pa. — Walgreens Boots Alliance (WBA) and Rite Aid Corp. are expanding the time frame for completing their planned $17.2 billion merger deal. WBA and Rite Aid said Thursday that they have extended the end date for the agreement to Jan. 27, 2017, from Oct. 27, 2016, and expect the
CAMP HILL, Pa. — Despite an uptick in total sales, lower drug reimbursement rates and script count trimmed profits at Rite Aid Corp. for its fiscal 2017 second quarter. Rite Aid also said Thursday that it continues to expect its acquisition by Walgreens Boots Alliance (WBA) Inc., a $17.2 billion deal announced Oct. 27, to
DEERFIELD, Ill. — Walgreens Boots Alliance Inc. (WBA) has raised the number of stores it expects to sell or close to win government approval for its $17.2 billion purchase of Rite Aid Corp. WBA said this month that between 500 and 1,000 Walgreens and/or Rite Aid stores will most likely need to be divested to
DEERFIELD, Ill. — Walgreens Boots Alliance (WBA) said it’s working on store divestiture scenarios with the Federal Trade Commission to gain clearance for its $17.2 billion deal to acquire Rite Aid Corp. WBA said Thursday that it and Rite Aid “remain actively engaged” in talks with the FTC as the regulator reviews the acquisition, which
DEERFIELD, Ill. — Walgreens Boots Alliance (WBA) saw sales and adjusted net earnings rise in its fiscal 2016 third quarter, with adjusted earnings per share exceeding Wall Street’s consensus forecast. WBA said Wednesday that its pending acquisition of Rite Aid Corp. remains on track for completion in the second half of this year, and it
CAMP HILL, Pa. — When Rite Aid Corp. officially launched HealthSpot telehealth stations at 25 of its drug stores last July it was a sign of the company’s belief in “telehealth as a health care solution.” However, the kiosks were removed from the Rite Aid stores earlier this year after HealthSpot notified the drug chain
CAMP HILL, Pa. — Rite Aid Corp. cited pressure in pharmacy reimbursement as it reported a net loss and fell short of Wall Street’s earnings forecast for its fiscal 2017 first quarter. Meanwhile, overall retail sales and same-store sales edged up for the quarter, and the EnvisionRx pharmacy benefit management business, acquired about a year
SPARTANBURG, S.C. — June 1 marked the opening of Rite Aid Corp.’s first new distribution center in 16 years. The mammoth, state-of-the-art facility sits on 97 acres here, ideally located near Interstate 85 between Highways 9 and 221, providing the company easy access to these major transportation arteries and the more than 1,000 stores that
DEERFIELD, Ill. — Walgreens Boots Alliance Inc. (WBA) has realigned its senior management roles and responsibilities, as it lays the groundwork for the next phase of its evolution, which, pending Federal Trade Commission approval, will include the acquisition and integration of Rite Aid Corp. In an effort to streamline the management of the company’s global