June 25, 2002 |
Walgreen Co.'s third-quarter earnings rose 21% as the largest U.S. drugstore chain added stores and filled more prescriptions. Net income increased to $259 million, or 25 cents a share, from $213.4 million, or 21 cents, a year earlier, Walgreen said. Sales in the quarter ended May 31 rose 17% to $7.4 billion. Walgreen has taken customers from CVS Corp. and Rite Aid Corp., which are struggling to absorb acquisitions, analysts and investors said. The shares of Deerfield, Ill.
September 24, 2004 |
Rite Aid Corp., the No. 3 U.S. drugstore chain, reported an unexpected second-quarter profit of $9.83 million as inventory costs and interest expenses declined. The company broke even on a per-share basis compared with a loss of $10.6 million, or 4 cents, a year earlier, Camp Hill, Pa.-based Rite Aid said. Sales rose 1.8% to $4.12 billion. Shares of Rite Aid, which trails Walgreen Co. and CVS Corp. in sales, fell 18 cents to $3.58 on the NYSE.
September 19, 2000 |
The nation's largest drugstore chain said Monday that it has completed its acquisition of Bergen Brunswig Corp.'s Stadtlander Pharmacy unit for $124 million. The sale of the Pittsburgh unit of CVS Corp. in Woonsocket, R.I., removes the second of two units that have dragged down the earnings of Bergen, an Orange-based distributor of drugs and medical products. Bergen recently sold its PharMerica unit, a supplier of pharmacy services to nursing homes.
August 19, 2008 |
Longs Drug Stores Corp. recommended in a regulatory filing that shareholders approve its $2.7-billion purchase by CVS Caremark Corp. even as activist investor Bill Ackman hired a firm to explore getting a higher price.
March 26, 2012 |
Drugstore operator CVS Caremark Corp. is planning to close all 25 of its upscale Beauty 360 stores and accompanying website as it looks to expand other cosmetic offerings. Twenty-three of those shops are located in California, including four Southland stores in Manhattan Beach, Rolling Hills Estates, Yorba Linda and Mission Viejo. All stores will be shuttered by May 19, the company said. Originally billed as a makeup destination for the "time-starved woman," Beauty 360 was conceived in 2008 as a high-end shop that carried more prestigious brands than the average CVS drugstore and offered spa-like services such as hand massages and express facials.
September 6, 2001 |
A unit of GlaxoSmithKline, the No. 2 drug maker, has alleged in a lawsuit that smaller rival Accumed Inc. has infringed its patent on Beano, a dietary supplement that helps prevent gas. Glaxo's Jersey City, N.J.-based Block Drug Co. alleges that Accumed sells food enzyme tablets that violate Block's 1995 patent on Beano, an anti-flatulence enzyme also known as alpha-galactosidase. CVS Corp. and Eckerd Corp.
April 1, 2000 |
Eleven of the world's leading food, drug and discount chains, including U.S. giants Safeway Inc. and Kmart Corp., unveiled a Web-based exchange to share information and cut costs in one more example of the Internet's huge impact on global business. Combined, the retailers operate more than 30,000 stores with combined 1999 revenues of $300 billion. The group includes U.S. industry giants Albertson's Inc., Target Corp. and drugstore chain CVS Corp.