Content about Revco

April 12, 2013

Rite Aid benefits from customer loyalty, investment

Rite Aid reported a $123.1 million profit for fourth quarter 2013 and $118.1 million for the fiscal year - its first profitable year since 2007 - amid greater generic drug penetration and retention of at least three-quarters of the customers who switched over to the chain during the dispute between Walgreens and pharmacy benefit manager Express Scripts, among other factors.

In other words, the factors that helped fuel the nearly $62 million profit the company reported in third quarter 2013 have continued to hold, which means the 4,623-store chain has put itself on track for strong future growth, which will no doubt be helped along by the debt refinancing the company finished in February.

Rite Aid reported a $123.1 million profit for fourth quarter 2013 and $118.1 million for the fiscal year — its first profitable year since 2007 — amid greater generic drug penetration and retention of at least three-quarters of the customers who switched over to the chain during the dispute between Walgreens and pharmacy benefit manager Express Scripts, among other factors.

November 8, 2012

CVS/pharmacy expands role of two field executives, 37-year retail veteran announces retirement

CVS/pharmacy on Thursday expanded the role of two retail field executives as SVP operations Dennis Palmer, a 37-year retail veteran, announced his retirement.

WOONSOCKET, R.I. — CVS/pharmacy on Thursday expanded the role of two retail field executives as SVP operations Dennis Palmer, a 37-year retail veteran, announced his retirement.

Effective Nov. 5, Hanley Wheeler, SVP operations has assumed responsibility of CVS/pharmacy’s Western and Southwestern markets while continuing to have responsibility for the company’s retail operations in its Midwest and Southeast markets.

March 8, 2012

Where are the ‘integration sweet spots’ for your brand?

“How does that help me sell more cases, pallets and truckloads?” That’s a question I have been asked repeatedly, particularly as the world of retail pharmacy has evolved to play a larger role in health care. With that, the business that we cover in Drug Store News has become incredibly more complicated. 

“How does that help me sell more cases, pallets and truckloads?” That’s a question I have been asked repeatedly, particularly as the world of retail pharmacy has evolved to play a larger role in health care. With that, the business that we cover in Drug Store News has become incredibly more complicated. 

March 5, 2012

Rite Aid category manager wins National Confectioners Association award

A Rite Aid category manager has won a top award from a trade association representing candy makers.

CAMP HILL, Pa. — A Rite Aid category manager has won a top award from a trade association representing candy makers.

Rite Aid said Monday that Val Stansfield had received the 2012 Confectionary Leadership Award from the National Confectioners Association. The award is given to people who demonstrate "exemplary leadership behaviors in business planning and collaboration," the company said. Stansfield was 1-of-3 recipients at the NCA's State of the Industry Conference last week in Miami.

October 11, 2011

Merlo takes the helm

CVS Caremark’s annual meeting of shareholders in May was of special importance as it marked the official retirement of former chairman and CEO Tom Ryan, who left the growing company in the hands of a strong, capable new leader — Larry Merlo. 

“I’m passing [the company over] to a great leader, one whom I respect and who knows this business. Larry will take this company to great heights,” Ryan told shareholders in May. 

October 11, 2011

Trailblazer embarks on new chapter

Over the years, CVS Caremark has grown from a go-getting New England-based regional player to a nearly $100 billion pharmacy healthcare giant known for its vertically integrated pharmacy-PBM model via the 2007 acquisition of Caremark, its highly successful loyalty card program and its innovative beauty concepts. 

October 3, 2011

Industry veteran Warren Jeffery to retire

Katz Group Canada on Monday announced the planned retirement Oct. 31 of Warren Jeffery, chief development officer and interim chief merchandising officer.

EDMONTON, Alberta — Katz Group Canada on Monday announced the planned retirement Oct. 31 of Warren Jeffery, chief development officer and interim chief merchandising officer.

“We thank Warren for his contributions and his leadership,” stated Andy Giancamilli, CEO of Katz Group Canada. “Warren has been at the helm of key organizational initiatives that have driven innovation in pharmacy care and improved medication compliance and has set a solid foundation for future organizational growth. We wish him all the best in his retirement.”

April 25, 2011

CVS aims for growth behind new leader

With a new leader at the helm, a robust management team in place and an unwavering focus on driving medication adherence and reducing healthcare costs, CVS Caremark remains squarely on the growth path and continues to play an increasingly important role in U.S. health care with its far-reaching store network and arsenal of products and services. 

March 1, 2011

Merlo officially takes helm at CVS

As previously announced and widely reported, March 1 marks the day that Larry Merlo officially assumes the role of CEO of CVS Caremark.

WOONSOCKET, R.I. — As previously announced and widely reported, March 1 marks the day that Larry Merlo officially assumes the role of CEO of CVS Caremark. Merlo, who now serves as president and CEO, succeeds Tom Ryan, who remains nonexecutive chairman until his retirement at the company's annual meeting of shareholders in May.

Upon Ryan's retirement as chairman in May, the company intends to elect CVS Caremark board member David Dorman as the next nonexecutive chairman at the 2011 annual meeting. Dorman has been on the CVS Caremark board of directors since 2006.

February 4, 2011

Merlo shows why he's boss

A new chapter officially is under way for CVS Caremark, and it comes as little surprise that the Larry Merlo era has begun with a reminder of the core principles that put him in the captain's seat to begin with — flawless execution, cross-functional thinking and management, and enhancing value.

WHAT IT MEANS AND WHY IT'S IMPORTANT — A new chapter officially is under way for CVS Caremark, and it comes as little surprise that the Larry Merlo era has begun with a reminder of the core principles that put him in the captain's seat to begin with — flawless execution, cross-functional thinking and management, and enhancing value.

(THE NEWS: Merlo puts stamp on his leadership in fourth-quarter earnings call. For the full story, click here)

January 28, 2011

Merlo's talent will help CVS grow

The news that Larry Merlo is taking the helm at CVS Caremark was expected, but that doesn't take away from its significance.

WHAT IT MEANS AND WHY IT'S IMPORTANT — The news that Larry Merlo is taking the helm at CVS Caremark was expected, but that doesn't take away from its significance.

(THE NEWS: Merlo to assume CEO role at CVS Caremark. For the full story, click here)

Since beginning his career in chain pharmacy in 1978 with People's Drug (which CVS acquired in 1990), Merlo has become an operations guru who wrote the book on successfully integrating acquisitions.

March 3, 2010

Rite Aid reports drop in monthly sales

Rite Aid reported weak sales for the month of February....

February 9, 2010

Retail pharmacy vet Keough joins LearnSomething

Retail pharmacy vet Phil Keough has joined LearnSomething, a provider of e-learning products and services...

April 2, 2009

Walgreens visionary Vern Brunner loses cancer battle

It was easy to like Vern Brunner....

It was easy to like Vern Brunner.