News

Walgreens Boots Alliance will invigorate front-end performance of U.S. store base post-merger

BY Michael Johnsen

DEERFIELD, Ill. — Walgreens Boots Alliance will be emphasizing improved front-end margin contributions across its U.S. Walgreens store base once the merger is complete, mirroring the peformance of its U.K. store base Boots, in an effort to counter margin pressures from the pharmacy side of the business. 
 
"The pressure on the pharmacy is a global issue," Stefano Pessina, executive vice chairman Walgreens Boots Alliance, told analysts Wednesday morning. "Everywhere in the world the margins of the pharmacy are under pressure," he said. "Twenty years ago, Boots, as you know, was making its money on the pharmacy — so 75% of the profit of Boots was coming from the pharmacy. Today, 75% comes from the front of the store. Are the pharmacies losing money? Not at all. They are still very profitable in Boots because the margin has suffered, but of course they are selling much more, so they are still very profitable."
 
To combat restricting margins, Boots developed the front of the store into what it is today — one of the premier shopping experiences in the United Kingdom. 
 
"There's real opportunity in the front of our store," said Greg Wasson, president and CEO of Walgreens Boots Alliance."[Boots'] operating margins are significantly higher than what ours are, and that's primarily as a result of that front-end business. So we do think that there is opportunity to drive operating margin out of our front-end business," he said. "I feel confident with what we've been doing so far, the proof points we've seen that there's opportunity there. … If we look across the Pond to the Boots model, we have some similar opportunities at the front end of our store." 
 
"This is what will happen in the United States," Pessina said. "I can assure you that after the merger, we will have a step up in the margins of the front of the store. You will start to see it growing from next year on. … We have clear plans for it."
 

keyboard_arrow_downCOMMENTS

Leave a Reply

No comments found

TRENDING STORIES

News

Applegate cuts down on lunchbox prep with new kits

BY Ryan Chavis

BRIDGEWATER, N.J. — In an effort to save parents some much-needed time in the morning — and maybe a chance to sneak an extra cup of coffee — Applegate announced the debut of Half Time lunch kits. The kits are available at such retailers as Target, BJ's and Safeway, and contain three brands from the natural and organic channel: Applegate, Stonyfield and Annie's.

“With Half Time, parents don’t have to compromise between convenience and quality because we’re combining the three trusted natural and organic brands that are already in their refrigerators and pantries,” said Neil Leinwand, Applegate SVP marketing.

Applegate Half Time is available in three varieties: turkey & cheese, ham & cheese and bologna & cheese, all available for a suggested retail price of $4.99. Additionally, all kits include Applegate natural meats and cheese, Stonyfield YoKids Squeezers Strawberry Organic Lowfat Yogurt and Annie’s Homegrown Buttery Rich Crackers. Each kit also comes with either Annie’s Bunny Graham Friends or Annie’s Organic Berry Patch Fruit Snacks, the company said.

keyboard_arrow_downCOMMENTS

Leave a Reply

No comments found

TRENDING STORIES

News

UF College of Pharmacy revamps curriculum with a focus on team-based patient care education

BY Antoinette Alexander

GAINESVILLE, Fla. — The University of Florida College of Pharmacy has announced that it is reforming its doctor of pharmacy four-year educational program in an effort to prepare graduates to work in an environment where inter-professional team-based approaches to patient care are increasingly the norm.

The new curriculum is slated to begin in fall 2015 for all entering Pharm.D. students.

Building on its current Pharm.D. program, UF will integrate the fundamental basic sciences with clinical sciences, so that courses are taught within a clinical context. There also will be increased focus on on soft skills, according to UF College of Pharmacy Dean Julie A. Johnson.

“We have always provided a high caliber of pharmacy training, which is evident by the successes and national leadership exhibited by so many of our alumni today,” Johnson said. “But health care is changing rapidly, and there are new and increasing opportunities for pharmacists and our faculty. Students and alumni are embracing this curricular change, which will help ensure our students’ success when they enter practice.”

Led by Reginald Frye, a professor and chair of pharmacotherapy and translational research, the 15-member task force was asked to develop a curriculum for innovative pharmacy education with an integrated approach that seamlessly prepares graduates for new practice models while continuing the college’s involvement with new technology that advances learning. The task force evaluated current literature from all health professions, examined educational programs at other health science colleges at UF and peer colleges of pharmacy, and held faculty forums to gain input and promote discussion.

Working under the guidance of Diane Beck, an associate dean for curricular affairs and accreditation in the college, the task force proposed a new educational model that uses a body-systems approach so that students learn the context in which they will apply their knowledge in practice.
 
A cornerstone of the new curricular model is the development of a tandem co-curriculum that will provide students with the skills to enhance their interactions, job performance and career prospects. These skills focus on self-awareness, interpersonal communication, patient advocacy, leadership, entrepreneurship and an innovative mindset. The co-curriculum program will be developed to work collaboratively with pharmacy and other health disciplines' faculty to build a rich resource of student experiences to complement their classroom learning.
 

keyboard_arrow_downCOMMENTS

Leave a Reply

No comments found

TRENDING STORIES