2016 Retail Outlook: Pharmacy’s reach to expand
getting the most out of its continued movement away from a dispensing foundation toward a
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Drug chains end 2015 with modest sales gains
Drug stores outpaced other mass retailers in December sales, even with modest increases in total and same-store sales for the month. Total drug store sales in December were up 4% compared with the same month last year, according to research by Chain Drug Review publisher Racher Press.
Walmart Express small-format stores to be shut
Walmart plans to close all of its Walmart Express small-format stores in the United States as part of a move to shut 269 stores worldwide. The retail giant said Friday that, after a review of the nearly 11,600 stores in its global portfolio, it aims to close 269 stores, including 154 U.S.
McKesson, CVS sign new pact for Target Rx
McKesson Corp. announced a new distribution pact with CVS Health for Target pharmacies in updating its earnings outlook for fiscal 2016 and providing preliminary guidance for fiscal 2017.
Walgreens enlists partner for Chicagoland clinics
Walgreens is turning over the operation of 56 Healthcare Clinics at stores in the greater Chicagoland area to Advocate Health Care, the largest health system in Illinois. The drug chain said Monday that Advocate will lease the space to operate the clinics in the Walgreens stores.
Jean Coutu retail sales inch up in 3Q
Jean Coutu Group’s retail store network eked out total and same-store sales gains for the fiscal 2016 third quarter. On the corporate side, Jean Coutu also reported upticks in revenue, net profit and earnings per share for the quarter, which ended Nov. 28.
WBA starts off fiscal 2016 on strong note
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.
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Walmart recognized for innovation in pharmacy
Walmart has had a long history of making health care more accessible and affordable. From the launch of $4 generics in 2006 to the recent introduction of Walmart Care Clinics, which promise to have the same kind of impact on pricing in that sector as the earlier program did in pharmacy, the
CVS’ Judy Sansone is Merchant of Year
Over the course of the past decade, CVS Health has undergone profound changes, transforming itself from a traditional drug store operator into a health care innovation company.
Pessina, Rite Aid team named Retailers of Year
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.
Holiday retail sales edge up in 2015
Drug chains were not immune to the shift in holiday shopping away from brick-and-mortar retailing. Holiday retail sales growth barely exceeded 4%, down from last season’s 4.4% advance and well off the 5.
Lawmakers see pharmacists as linchpin for MTM
A bipartisan coalition of congressmen is urging the participation of retail pharmacists in a new initiative to improve the use of medication therapy management (MTM) in Medicare. The National Association of Chain Drug Stores said Wednesday that 44 members of the U.S.
WBA makes financing move for Rite Aid acquisition
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.
Rite Aid 3Q earnings meet Wall Street’s forecast
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.
CVS Health’s Merlo: ‘No one is better positioned’
At its annual Analyst Day event here, CVS Health updated its earnings guidance for 2016 and reiterated its five-year targets.