Content about Edward Kelly

June 7, 2012

Rite Aid's same-store sales increased by 1.1% in May, a lower-than-expected increase that may be due to underlying economic and industry factors.

CAMP HILL, Pa. — Rite Aid's same-store sales increased by 1.1% in May, a lower-than-expected increase that may be due to underlying economic and industry factors.

The results for the five weeks ended June 2 included a 1.3% increase in front-end comps and a 1% increase in pharmacy sales over May 2011. Same-store prescription count increased 2.6%. Total drug store sales for the period increased 0.3% to nearly $2.5 billion, compared with $2.45 billion in May 2011.

March 19, 2012

Walgreens might be willing to acquire Rite Aid if it can't settle an ongoing contractual dispute with one of the country's largest pharmacy benefit managers, Walgreens' former CEO said in a conference call with investors Monday.

NEW YORK — Walgreens might be willing to acquire Rite Aid if it can't settle an ongoing contractual dispute with one of the country's largest pharmacy benefit managers, Walgreens' former CEO said in a conference call with investors Monday.

Interviewed by Credit Suisse analyst Edward Kelly, former Walgreens CEO Jeff Rein suggested that Walgreens' board "would have the stomach" to buy Rite Aid if it doesn't reach an agreement with Express Scripts, as buying Rite Aid's nearly 4,700 stores would give Walgreens considerable leverage against the PBM.

March 19, 2012

A miniature version of the spike in stock market activity that followed speculation about the prospects of a Walgreens-Rite Aid merger happened on Drug Store News' website as a quick writeup about the potential deal became the most-read story on the site. But for all the buzz that Credit Suisse analyst Edward Kelly created with his report, a Walgreens-Rite Aid merger appears pretty unlikely on closer inspection.

WHAT IT MEANS AND WHY IT'S IMPORTANT — A miniature version of the spike in stock market activity that followed speculation about the prospects of a Walgreens-Rite Aid merger happened on Drug Store News' website as a quick writeup about the potential deal became the most-read story on the site.

(THE NEWS: Reports: WAG-RAD merger speculation drives RAD stock to four-year high. For the full story, click here)

March 14, 2012

Shares of Rite Aid crossed the $2 mark Wednesday afternoon following analyst speculation about the prospects of a takeover by Walgreens, according to published reports.

NEW YORK — Shares of Rite Aid crossed the $2 mark Wednesday afternoon following analyst speculation about the prospects of a takeover by Walgreens, according to published reports.

October 13, 2011

Sales at Safeway are looking up thanks in large part to fuel gains, but the grocer's loyalty card program is expected to continue driving that sales momentum into next year as the company rolls out its Just for U digital marketing platform and explores health-and-wellness initiatives.

PLEASANTON, Calif. — Sales at Safeway are looking up thanks in large part to fuel gains, but the grocer's loyalty card program is expected to continue driving that sales momentum into next year as the company rolls out its Just for U digital marketing platform and explores health-and-wellness initiatives.

October 5, 2011

Walgreens on Wednesday reported September sales of $6 billion, an increase of 5.4%.

DEERFIELD, Ill. — Walgreens on Wednesday reported September sales of $6 billion, an increase of 5.4%. Sales in comparable stores increased 3.1%. The effect of calendar day shifts negatively impacted total comparable sales by 10 basis points.

August 29, 2011

By the time sales figures for August are tallied, last week's Hurricane Irene may have flooded more than the East Coast seaboard; she may have flooded pharmacy registers, too.

NEW YORK — By the time sales figures for August are tallied, last week's Hurricane Irene may have flooded more than the East Coast seaboard; she may have flooded pharmacy registers, too.

August 19, 2011

Express Scripts is readying for a pharmacy network without Walgreens, according to an analyst report published Thursday.

NEW YORK — Express Scripts is readying for a pharmacy network without Walgreens, according to an analyst report published Thursday.

Credit Suisse analyst Edward Kelly reported that Express Scripts issued a letter to clients on Monday encouraging those clients to begin pushing prescriptions to alternative pharmacies. "While this is the next logical step in this very public negotiation, it supports our view that a near-term resolution is unlikely and suggests that the possibility of no deal (while still low) is increasing," Kelly wrote.

March 3, 2011

February sales at Rite Aid increased 1% over the prior-year period, while the chain's front-end and pharmacy same-store sales increased 1.1% and 0.9%, respectively.

CAMP HILL, Pa. — February sales at Rite Aid increased 1% over the prior-year period, while the chain's front-end and pharmacy same-store sales increased 1.1% and 0.9%, respectively.

Total drug store sales for the five-week period increased 0.1% to about $2.44 billion, Rite Aid reported.

February 28, 2011

The flu may drive consumers to bed, but drug store sales are expected to benefit from an increase in flu activity, according to a Credit Suisse research note.

NEW YORK — The flu may drive consumers to bed, but drug store sales are expected to benefit from an increase in flu activity, according to a Credit Suisse research note.

Credit Suisse research analyst Edward Kelly on Monday noted that as Walgreens and Rite Aid would report their monthly sales on March 3, comparable pharmacy sales would be driven by increased flu activity.

January 4, 2011

Rite Aid brought the New Year in with a bang, recording monthly same-store sales increases across both the front end and back bench for the first time in almost two years.

CAMP HILL, Pa. — Rite Aid brought the New Year in with a bang, recording monthly same-store sales increases across both the front end and back bench for the first time in almost two years.

January 3, 2011

Credit Suisse analysts on Monday projected strong front-end sales and improved pharmacy comparisons for December.

NEW YORK — Credit Suisse analysts on Monday projected strong front-end sales and improved pharmacy comparisons for December.

“Industry front-end sales growth will accelerate in December on easier comparisons and increased promotional activity,” Credit Suisse research analyst Edward Kelly noted. “Sales last year were negatively impacted by low levels of seasonal inventory (especially at Walgreens) and unusually soft flu activity after an early start to the season,” he added.