Pharmaca raises $20 million in new financing
BOULDER, Colo. Pharmaca Integrative Pharmacy has raised $20 million in new financing to accelerate its expansion plans.
The 20-store chain based in Colorado raised the funds through Highland Capital Partners, the Highland Consumer Fund and Physic Ventures. The company plans to open 12 stores each year for the next several years.
“It’s exciting to have the continued support of Highland and Physic Ventures as we grow our integrative pharmacy concept to existing and new markets,” said Pharmaca chief executive officer Barry Perzow.
Pharmaca combines conventional prescriptions with all natural and holistic medicines. In addition to its three stores in Boulder, Colo., the chain has stores in California, Oregon, Washington and New Mexico.
Clarification: Goldman leaves CVS, Sansone to succeed him
WOONSOCKET, R.I. CVS Caremark has confirmed that Allan Goldman, vice president of general merchandise and consumables has left the company.
Succeeding Goldman at CVS is Judy Sansone, vice president of merchandising.
Drug Store News had previously reported that Goldman was joining Duane Reade. However, Goldman said he is not joining Duane Reade. It is unclear at this time where Goldman will land next as he could provide no further comment.
Goldman, who was crowned the winner of the general merchandise merchant of the year award at the 20th Annual Drug Store News REX Awards ceremony, was recruited by CVS in 2001. Before joining CVS, he was vice president of merchandising at PlanetRx.com.
From March 1995 to July 1998, Goldman served as senior vice president of marketing and merchandising for The Cosmetic Center, a retail cosmetic company. From June 1988 to February 1995, he served as vice president of merchandising for Rite Aid.
Walgreens to launch private label clothing line
Walgreens is expanding its private label offerings to include a clothing line, Casual Gear. As reported by The Chicago Tribune, the line will launch in April at most of Walgreens 6,000 stores.
The line will feature capris, sweat pants, vests and T-shirts that will retail between $7 and $15, reportedly.
Walgreens reported February sales of $4.9 billion, and increase of 14.5% from $4.3 billion for the same month in 2007. Sales in comparable-stores rose 8.3%, while comparable-store front-end sales increased 8.2%.