Content about Investment

October 23, 2012

Cerberus Capital Management, which owns Albertsons LLC, may be looking to reunite the stores as it has reportedly emerged as a possible suitor to acquire all or part of Supervalu, according to published reports.

NEW YORK — Cerberus Capital Management, which owns Albertsons LLC, may be looking to reunite the stores as it has reportedly emerged as a possible suitor to acquire all or part of Supervalu, according to published reports. 

Cerberus is reportedly seeking $4 billion to $5 billion in debt financing from banks and is looking at investing equity of $800 million to $900 million, a person familiar with the matter reportedly said, although the source cautioned that the figures could change, according to reports.

October 23, 2012

A survey released by Chase Paymentech, a subsidiary of JPMorgan Chase & Co., found that online companies are expecting the 2012 holiday shopping season to be better than last year.

Dallas -- A survey released Tuesday by Chase Paymentech, a subsidiary of JPMorgan Chase & Co., found that online companies are expecting the 2012 holiday shopping season to be better than last year.

According to the Chase Paymentech eHoliday Shopping Monitor, 59% of e-commerce companies surveyed expect better sales volume this season than in 2011, while almost half (47%) expect it to be better than pre-recession levels in 2007.

October 18, 2012

Target is enticing shoppers this holiday season with new initiatives, including price match, exclusive gift offerings and shoppable advertisements.

MINNEAPOLIS — Target is enticing shoppers this holiday season with new initiatives, including price match, exclusive gift offerings and shoppable advertisements.

“Target’s holiday plans are built around an outstanding shopping experience, exclusive merchandise and competitive prices,” said Gregg Steinhafel, Target Chairman, president and CEO. “Our guests will be able to shop with confidence this holiday season knowing that we are intensely focused on providing them the right merchandise at the right price.”

September 28, 2012

In support of Shoppers Drug Mart’s ongoing commitment to women’s health, the company and its associate-owners have announced that the 11th annual Tree of Life campaign will run from Sept. 29 to Oct. 26.

TORONTO — In support of Shoppers Drug Mart’s ongoing commitment to women’s health, the company and its associate-owners have announced that the 11th annual Tree of Life campaign will run from Sept. 29 to Oct. 26.

The national four-week campaign has raised more than $17 million dollars in the past, with the projected goal of $2.3 million this year to help fund local women’s charities across Canada.

September 25, 2012

In June, Walgreens announced a two-step investment in a strategic partnership with Alliance Boots, to acquire a 45% equity stake in the privately held company for $6.7 billion in cash and stock in the first step with the option to acquire the other 55% approximately three years down the road at what is today being projected to be another $9.5 billion price tag in cash and stock. 


In June, Walgreens announced a two-step investment in a strategic partnership with Alliance Boots, to acquire a 45% equity stake in the privately held company for $6.7 billion in cash and stock in the first step with the option to acquire the other 55% approximately three years down the road at what is today being projected to be another $9.5 billion price tag in cash and stock. 


September 25, 2012

With an army of 26,000-plus beauty advisers, the expansion of the LOOK Boutique concept, the expertise from its online beauty engine Beauty.com and the Walgreens-Alliance Boots transaction, Walgreens is giving the U.S. mass market beauty world a makeover like no other. 


With an army of 26,000-plus beauty advisers, the expansion of the LOOK Boutique concept, the expertise from its online beauty engine Beauty.com and the Walgreens-Alliance Boots transaction, Walgreens is giving the U.S. mass market beauty world a makeover like no other. 


Going back even as little as a few years ago, Walgreens wasn’t exactly making waves in the beauty industry, as its beauty department was quite typical of that found within a traditional U.S. drug store. How times have changed.


September 25, 2012

As the largest single purchaser of prescription drugs in the world, with a global pharmaceutical wholesale operation to match, in-house manufacturing capabilities in over-the-counter health and wellness and generic drugs, Walgreens-Alliance Boots will have a whole lot more influence on the pharmacy side of its business.


Much has been written already about Walgreens’ epic, two-step acquisition of Alliance Boots that in the end could be valued at $16 billion. As the largest single purchaser of prescription drugs in the world, with a global pharmaceutical wholesale operation to match, in-house manufacturing capabilities in over-the-counter health and wellness and generic drugs, Walgreens-Alliance Boots will have a whole lot more influence on the pharmacy side of its business.


September 19, 2012

Revlon’s board has declared a regular dividend of approximately 16.5 cents per share on the Series A Preferred Stock for the period from July 9 through Oct. 8.

NEW YORK — Revlon’s board has declared a regular dividend of approximately 16.5 cents per share on the Series A Preferred Stock for the period from July 9 through Oct. 8.

This regular dividend is payable on Oct. 8 to holders of record of the Series A Preferred Stock at the close of business on Sept. 28.

September 18, 2012

Valeant Pharmaceuticals CFO Howard Schiller has been appointed to the drug maker's board of directors.

MONTREAL — Valeant Pharmaceuticals CFO Howard Schiller has been appointed to the drug maker's board of directors.

Schiller joined Valeant as EVP and CFO in December 2011, following a 24-year career at Goldman Sachs. Schiller also serves on the New York board of Teach for America and on the board of the Cancer Research Institute. In addition, he also is on the business advisory council of the University of Chicago Law School.

September 11, 2012

Walgreens on Monday announced that it has priced an underwritten public offering of senior notes.

DEERFIELD, Ill. — Walgreens on Monday announced that it has priced an underwritten public offering of senior notes, the net proceeds from which will be used to repay — in full — money that was borrowed to fund the cash consideration in its acquisition of a 45% stake in Alliance Boots and for general corporate purposes, including its previously announced USA Drug acquisition.

The senior notes consist of:

  • $550 million of floating rate notes due 2014;

  • $750 million of 1% notes due 2015;

September 7, 2012

Royal Bank of Canada and Canadian pharmacy retailer Shoppers Drug Mart have introduced a new cobranded RBC Shoppers Optimum MasterCard.

TORONTO — Royal Bank of Canada and Canadian pharmacy retailer Shoppers Drug Mart have introduced a new cobranded RBC Shoppers Optimum MasterCard. In conjunction with the launch, RBC announced its intention to acquire the existing Shoppers Optimum MasterCard credit card portfolio.
 

September 6, 2012

Safeway will package $150 million in real healthcare savings into an overall wellness strategy to be implemented over the course of 2013, the grocer's chairman and CEO Steve Burd told analysts Thursday morning at the Goldman Sachs 19th Annual Global Retailing Conference.

NEW YORK — Safeway will package $150 million in real healthcare savings into an overall wellness strategy to be implemented over the course of 2013, the grocer's chairman and CEO Steve Burd told analysts Thursday morning at the Goldman Sachs 19th Annual Global Retailing Conference. 

August 30, 2012

Canadian pharmacy retailer Shoppers Drug Mart announced on Thursday that the Supreme Court of Canada has granted its application for leave to appeal to Ontario’s ban on private-label generic drugs.

TORONTO — Canadian pharmacy retailer Shoppers Drug Mart announced on Thursday that the Supreme Court of Canada has granted its application for leave to appeal to Ontario’s ban on private-label generic drugs.

“The company respects the decision of the Supreme Court of Canada and is pleased with the outcome,” the retailer stated. A hearing date has not yet been set, and no further details were provided.

According to Reuters, Canada’s Katz Group also has been granted leave to challenge the ban.

August 9, 2012

Shoppers Drug Mart is celebrating its 50th anniversary in September, and in a lead up to the landmark anniversary, the chain is inviting Canadians to join the party by submitting their own Shoppers Drug Mart moments via the interactive "50 Fabulous Years" digital hub that will launch on Aug. 13.

TORONTO — Shoppers Drug Mart is celebrating its 50th anniversary in September, and in a lead up to the landmark anniversary, the chain is inviting Canadians to join the party by submitting their own Shoppers Drug Mart moments via the interactive "50 Fabulous Years" digital hub that will launch on Aug. 13.

August 8, 2012

The former Cromdale Hotel in Edmonton is being demolished to make way for the construction of a new Shoppers Drug Mart on the property, the Canadian retailer recently announced.

ALBERTA — The former Cromdale Hotel in Edmonton is being demolished to make way for the construction of a new Shoppers Drug Mart on the property, the Canadian retailer recently announced.

The demolition is expected to take just more than a month, and construction of the new store will begin in September.

August 2, 2012

Walgreens and Alliance Boots on Thursday announced the completion of Walgreens' initial investment in the strategic partnership following receipt of all required regulatory approvals.

DEERFIELD, Ill. — Walgreens and Alliance Boots on Thursday announced the completion of Walgreens' initial investment in the strategic partnership following receipt of all required regulatory approvals. 

The Walgreens investment consists of approximately $4 billion in cash and 83.4 million shares of Walgreens common stock in exchange for a 45% equity stake in Alliance Boots. Walgreens has the option to proceed to a full combination in approximately three years’ time by acquiring the remaining 55% of Alliance Boots.

July 31, 2012

Shareholders of Paragon Pharmacies have approved the sale of 19 retail pharmacies and three central fill pharmacies to Shoppers Drug Mart.

KELOWNA, British Columbia — Shareholders of Paragon Pharmacies have approved the sale of 19 retail pharmacies and three central fill pharmacies to Shoppers Drug Mart.

The transaction is expected to close Aug. 1.

As previously reported by Drug Store News, the purchase price was recently revised from about $75 million to $73.5 million following a due diligence review by Shoppers that included a review of Paragon's store operating income.

July 30, 2012

Incorporated into the new store formats currently being rolled out by both Walgreens and Rite Aid is a new store associate position with the primary function of proactively engaging customers in the OTC aisle. Walgreens calls them Health Guides; Rite Aid calls them Wellness Ambassadors.

Incorporated into the new store formats currently being rolled out by both Walgreens and Rite Aid is a new store associate position with the primary function of proactively engaging customers in the OTC aisle. Walgreens calls them Health Guides; Rite Aid calls them Wellness Ambassadors.

May 9, 2012

Almost 100 million Americans use social media to shop, according to a new survey.

CHICAGO — Almost 100 million Americans use social media to shop, according to a new survey.

Agency network Leo Burnett Worldwide and its marketing services arm, Arc Worldwide, released results of the "SocialShop" study Wednesday showing that 95 million Americans, or 42% of Americans, are shopping through social media, while almost 73% of people are using social media more than a year ago.

May 4, 2012

Generic drug maker Watson Pharmaceuticals has appointed Lisa DeFrancesco as its VP global investor relations, the company said Friday.

PARSIPPANY, N.J. — Generic drug maker Watson Pharmaceuticals has appointed Lisa DeFrancesco as its VP global investor relations, the company said Friday.

Succeeding Patricia Eisenhaur, who will leave the company on June 1, DeFrancesco will report directly to chief communications officer Charles Mayr. She will be responsible for investor relations programs and serve as the company's principal spokeswoman and point of contact with the analyst and investment community.

April 26, 2012

Canadian pharmacy retailer Shoppers Drug Mart announced on Thursday a boost in first-quarter sales and earnings, driven, in part, by gains at the front end.

TORONTO — Canadian pharmacy retailer Shoppers Drug Mart announced on Thursday a boost in first-quarter sales and earnings, driven, in part, by gains at the front end.

April 23, 2012

The National Association of Chain Drug Stores has elected new officers for the coming year.

PALM BEACH, Fla. — The National Association of Chain Drug Stores has elected new officers for the coming year.

For the 2012-2013 term, NACDS chairman Bob Loeffler, who also serves as chief administrative officer of H-E-B, will be succeeded by Walgreens president and CEO Greg Wasson. Thrifty White Pharmacy president and CEO Bob Narveson was elected as vice chairman, while Rite Aid president and CEO John Standley was appointed as treasurer, as well as a member of NACDS' executive committee. Wasson, Narveson and Standley will serve one-year terms.

April 13, 2012

The key to smelling success in the fragrance category is to unlock the segment — literally. Yet, finding ways to successfully enhance the shopping experience through sampling always has been a bit tricky for mass market retailers.

The key to smelling success in the fragrance category is to unlock the segment — literally. Yet, finding ways to successfully enhance the shopping experience through sampling always has been a bit tricky for mass market retailers. The answer, however, may just lie within the upscale beauty department at Duane Reade’s flagship store at 40 Wall St. in New York City.


April 9, 2012

Safeway on Monday evening promoted Robert Edwards to president of the company. Edwards had served as Safeway's EVP and CFO since 2004.

PLEASANTON, Calif. — Safeway on Monday evening promoted Robert Edwards to president of the company. Edwards had served as Safeway's EVP and CFO since 2004.

March 23, 2012

Former Walgreens' CEO Jeff Rein said profit pressure might cause Walgreens to think differently about acquisitions than it did in the past.

WHAT IT MEANS AND WHY IT'S IMPORTANT — Former Walgreens' CEO Jeff Rein said profit pressure might cause Walgreens to think differently about acquisitions than it did in the past. The loss of Express Scripts patients (who are incidentally taking their prescriptions to the nearest Walgreens competitor), coupled with a significant generic wave through 2012 — moreso in the back half of the year — potentially could keep Walgreens from posting a profit through fiscal 2012. "Walgreens is in a real poor position here," Rein said.