Content about Duane Reade

WHAT IT MEANS AND WHY IT'S IMPORTANT — In recent years, Duane Reade has gone from simply being Manhattan's homegrown pharmacy chain to a truly innovative retailer with unique product offerings and marketing concepts that even the biggest retailers can learn from. And visionary merchant Joe Magnacca has received a lot of credit for the chain's transformation — as he should.

TORONTO — Retail pharmacy network Katz Group Canada has appointed Frank Scorpiniti as COO.

With more than 20 years of retail pharmacy experience, Scorpiniti previously was SVP pharmacy operations at Duane Reade. Prior to Duane Reade, he held positions of increasing responsibility at Longs Drug Stores.

DEERFIELD, Ill. — Walgreens on Tuesday reported March sales of $6.3 billion, an increase of 7.6%. Duane Reade stores, acquired in April 2010, contributed 280 basis points to the total sales increase for the month.

Total front-end sales increased 8.4% in March, including 470 basis points from Duane Reade stores. Despite the negative impact of this year’s later Easter, which falls on April 24 compared with April 4 last year, comparable-store front-end sales increased 1.6%. Customer traffic in comparable stores increased 0.8%, while basket size increased 0.8%.

NEW YORK — Duane Reade, which is owned by Walgreens, has extended its contract with DeVito/Verdi, the New York ad agency that assisted with its marketing metamorphosis.

"The street-smart ad campaign created by DeVito/Verdi certainly helped transform the Duane Reade brand," stated Paul Tiberio, SVP merchandising and marketing for Duane Reade. "We're looking forward to having the agency continue to give voice to this iconoclastic brand."

DEERFIELD, Ill. — With record second-quarter sales and earnings under its belt, a grasp on 20.1% of the retail prescription drug market and a sharpened focus on core assets, Walgreens' executives expressed optimism on future growth — despite such external challenges as a soft economy and continued pressure on Medicaid reimbursement — and reiterated the company's focus on core strategies.

WHAT IT MEANS AND WHY IT’S IMPORTANT — Joe Magnacca brings to bear a menagerie of merchandising savvy that will help Walgreens on its way to well. That savvy includes some "old world" retailing perspective by way of Canada’s Shoppers Drug Mart, where a focus on beauty and convenience is paramount. And his recent meteoric rise through the ranks of Duane Reade is testament to just how well he connected with the denizens of the most-populated city in the United States through enhanced merchandising and marketing.

DEERFIELD, Ill. — Walgreens on Thursday posted sales growth of 8.7% to $18.5 billion for its second quarter ended Feb. 28.

Comparable-store sales were up 4%, with a 4% increase across front-end same-store sales. Prescriptions filled grew by 4.5%; quarterly same-store pharmacy sales were not provided.

The CCR foundation has been laid. Now comes the next phase in Walgreens’ campaign to “enhance the customer experience.”


Customer Centric Retailing is rolling across the chain’s coast-to-coast store network like a tide. The effort — aimed at aligning Walgreens’ mix with what its customers really want from the stores; eliminating hundreds of redundant, slow-turning SKUs; and boosting front-end productivity — already has transformed more than 2,100 Walgreens stores. Another 3,400 are up for renovation by the end of this year.

EDGEWATER, N.J. — This month, expect to see performance pantyhose in the hosiery aisle at Duane Reade.

Glogover Hosiery said its Convertibles line, available in four sizes and in black and nude colors, touts the first-ever performance pantyhose with a seamless toe flap, giving its user more ways to wear the pantyhose, including a closed toe, open toe or at ankle-high length.

Convertibles by Glogover Hosiery will roll out in Duane Reade stores in New York and New Jersey for a suggested retail price of $9.99.

NEW YORK — In recent years, Duane Reade has gone from simply being Manhattan’s homegrown pharmacy chain to a truly innovative retailer with unique product offerings and marketing concepts that even the biggest retailers can learn from. And there’s no doubt that Joe Magnacca has been instrumental in the chain’s turnaround.


WHAT IT MEANS AND WHY IT’S IMPORTANT — Walgreens has talked plenty about its Customer Centric Retailing initiative since the overhaul of its store merchandising and marketing strategy kicked off two years ago. But the rejuvenation of Walgreens’ sprawling, coast-to-coast store network is just the tip of the CCR iceberg, company leaders said.

(THE NEWS: CCR is just the beginning, says Walgreens CEO. For the full story, click here)