Diplomat CEO Phil Hagerman to retire
Phil Hagerman, co-founder, chairman and chief executive officer of Diplomat Pharmacy Inc., the nation’s largest independent specialty pharmacy, plans to retire.
Retail News
CVS Health gives update on 2018 outlook
In an update for investors, CVS Health executives expressed confidence in its growth outlook and noted that the recently passed tax overhaul package should boost its cash flow by an estimated $1.2 billion.
Sales surge in 1Q at Walgreens Boots Alliance
Strong sales gains by the U.S. retail pharmacy division propelled Walgreens Boots Alliance (WBA) in its fiscal 2018 first quarter, which also saw the company exceed Wall Street’s earnings forecast. WBA said Thursday that, for the quarter ended Nov. 30, sales totaled $30.74 billion, up 7.
H-E-B’s Martin Otto wins leadership award
Even the best-run, most effective organizations can benefit from occasionally reconsidering their work in a new light. The National Association of Chain Drug Stores is a case in point.
Rite Aid edges above Wall Street’s forecast for 3Q
Rite Aid Corp. topped Wall Street’s earnings projections for its fiscal 2018 third quarter, in which the company proceeded with the transfer of stores under its $4.375 billion asset sale to Walgreens Boots Alliance (WBA). Rite Aid said late Wednesday that for the quarter ended Dec.
Kevin Hourican honored as top pharmacy exec
Kevin Hourican is a relative newcomer to community pharmacy, but that hasn’t prevented him from helping CVS Health live up to its positioning as a pharmacy innovation company.
Alex Gourlay named Retailer of the Year
To the casual observer, the dominant story line at Walgreens might appear to be the phased acquisition of 1,932 drug stores and related assets from Rite Aid Corp., and plans for their subsequent assimilation.
Lewis Drug opens new-concept store
Lewis Drug has opened a “next generation” store here designed to offer consumers the “highest level of convenience.” The 25,000-square-foot store, opened last month, is located at Minnesota Avenue and 37th Street and replaces the 27-year-old Southgate store just a few blocks away.
Diplomat wraps up acquisition of LDI
Diplomat Pharmacy Inc. has closed its $595 million acquisition of pharmacy benefit manager LDI Integrated Pharmacy Services. With the completion of the cash-and-stock deal, Diplomat also announced that it has obtained $800 million in senior secured credit facilities.
Fruth Pharmacy steps up fight against drug abuse
Sens. Joe Manchin (D.) and Shelley Moore Capito (R.) of West Virgina helped Lynne Fruth, president of Fruth Pharmacy, launch the Bridge of Hope Fund, aimed at fighting the drug abuse epidemic.
Holiday retail sales rise for drug chains
Chain drug store holiday sales bettered last year’s results, with total dollar volume rising more than 4%.
WBA scales back stake in China joint venture
Walgreens Boots Alliance (WBA) plans to reduce its interest in Guangzhou Pharmaceuticals Corp., a pharmaceutical wholesale joint venture in China. WBA said Friday that, under the agreement, it will sell a 30% stake in Guangzhou Pharmaceuticals to Guangzhou Baiyunshan Pharmaceutical Holdings.
Shoppers Drug Mart set to dispense medicinal cannabis
Shoppers Drug Mart is set to become a licensed dispenser of medicinal cannabis, pending approval from Health Canada, the Canadian government’s department of public health.
Albertsons sounds call for flu vaccination
Albertsons Cos. is highlighting no-appointment flu shots at its pharmacies in response to reports of heightened influenza activity in parts of the country.
CVS’ Helena Foulkes to speak at NRF ‘Big Show’
CVS Health’s Helena Foulkes has been tabbed as one of the keynote speakers at the National Retail Federation’s 2018 annual convention in Manhattan.
Walgreens uses intelligent automation in HR
Walgreens worked with IBM and automation specialist Blue Prism to implement digital workforce capabilities for its human resources function. IBM said Walgreens is now using robotic processing automation (RPA) software from Austin, Texas-based Blue Prism to support its HR function.