Supervalu on Thursday announced a number of dramatic measures to stabilize its business — reduction in capital spending, suspension of the company's dividend, even the exploration of possible strategic alternatives — in conjunction with its declining first-quarter earnings results.
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.
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.
Walgreens on Thursday reported an approximate 150 basis-point negative impact on prescriptions filled based on prescription transfers, and other trend analysis of prescriptions managed by Express Scripts, as the chain posted its first monthly earnings statement following the discontinuation of Walgreens' relationship with Express Scripts.
Retailers will report weak December front-end sales growth across the drug channel as continued inflation likely was offset by the slow start to the flu season and disappointing overall traffic and volume growth, Credit Suisse research analyst Ed Kelly suggested in a note published Tuesday.
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.
Trips are up, but baskets are down, Kroger reported Friday morning, along with positive second-quarter results. Gas sales also are up with the decline in fuel prices, which is an item Kroger continues to use as a stickiness factor with its loyalty card program.
Walgreens’ stock was trading up 30 cents to $43.03 on the New York Stock Exchange mid-morning on Wednesday thanks to favorable same-store sales growth of 4.8% for the month of June versus an analyst consensus estimate of 2.8%.
Credit Suisse on Wednesday initiated coverage of General Nutrition Centers, the specialty retailer of supplement and nutritional products and partner with Rite Aid in a store-within-a-store program across more than 1,000 drug store locations.