With their arrival in early 2008, the new leaders of Dollar General began a massive but methodical transformation of the chain’s critical merchandising and marketing functions. The goal: to tighten up and rationalize a store presentation and product mix that had drifted and lost focus, while boosting turns, shelf productivity and profitability.
When Kohlberg, Kravis and Roberts approached the much-heralded chain drug store and supermarket veteran Rick Dreiling to run Dollar General some seven years ago, the move signaled the investment firm’s determination to return its huge but somewhat floundering retail holding to fiscal health and public ownership as quickly as possible.
CVS Caremark’s MinuteClinic on Thursday officially announced the opening of its first walk-in medical clinic in Hawaii at the Longs Drug store on South King Street in Honolulu near the University of Hawaii, Manoa.
CVS Caremark announced on Friday that it has agreed to a $20 million civil penalty to resolve a previously disclosed investigation by the Securities and Exchange Commission into 2009 public disclosures made by the company, securities transactions and certain aspects of the purchase accounting adjustment related to the October 2008 Longs Drug Stores acquisition.
CVS Caremark has announced that it has reached a civil settlement with the United States Department of Justice regarding its investigation into certain business practices of a subsidiary of Longs Drug Stores, which began prior to the acquisition of Longs by CVS Caremark in October 2008.
Altierre, a provider of ultra low-power wireless solutions for retailers, has announced that retail industry veteran and former Longs Drug Stores CEO Steve Roath has joined the company’s board of directors.
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.
With 3,300 members, the Independent Pharmacy Cooperative is the largest of the independent pharmacy organizations. And, early this year, the organization made it clear that it was not ready to rest on its laurels but was seeking to enhance its services and grow even larger by bringing in a new CEO with a long history of success in retail pharmacy.