Drug Store News articles from August 2003

Drug Store News archives from August 2003

Wal-Mart's executive vice president, people division, Cole Peterson, will be the keynote speaker during the American Health and Beauty Aids Institute Mid-Year Business Conference Industry Awards Luncheon on Sept. 11.(Newsbites)(Brief Article)
August 27, 2003... LAS VEGAS -- Wal-Mart's executive vice president, people division, Cole Peterson, will be the keynote speaker during the American Health and Beauty Aids Institute Mid-Year Business Conference Industry Awards Luncheon on Sept. 11. The event,...

After its breakup in July with ad agency TBWA\Chiat\Day, Kmart has selected Grey Global Group as its new leading ad agency.(Newsbites)(Brief Article)
August 27, 2003... TROY, Mich. -- After its breakup in July with ad agency TBWA\Chiat\Day, Kmart has selected Grey Global Group as its new leading ad agency. A new ad campaign will launch during the third quarter. Grey also serves as P&G's ad agency.

In an effort to educate more low-income seniors about its patients assistance program the LillyAnswers Card, Eli Lilly has joined the Pharmacy Care Alliance.(Newsbites)(Brief Article)
August 27, 2003... ALEXANDRIA, Va. -- In an effort to educate more low-income seniors about its patients assistance program the LillyAnswers Card, Eli Lilly has joined the Pharmacy Care Alliance. LillyAnswers enables low-income seniors to buy a 30-day supply of...

CVS has opened a 19,000-square-foot store in South Kingstown, R. I., nearly twice the size of the average CVS and is the company's largest store, according to published reports.(Newsbites)(Brief Article)
August 27, 2003... WOONSOCKET, R.I. -- CVS has opened a 19,000-square-foot store in South Kingstown, R. I., nearly twice the size of the average CVS and is the company's largest store, according to published reports. The store features a larger pharmacy...

During the awards banquet of its annual meeting in late July, the Pennsylvania Pharmacists Association presented the 2003 Annual Pharmacy Industry Award.(Newsbites)(award goes to Bruce Kneeland)(Brief Article)
August 27, 2003... PHOENIXVILLE, Pa. -- During the awards banquet of its annual meeting in late July, the Pennsylvania Pharmacists Association presented the 2003 Annual Pharmacy Industry Award to Bruce Kneeland of Pharmacy Connections.

Fuller urges industry to 'shock and awe' congress.(Craig Fuller addresses National Assocation of Chain Drug Stores Pharmacy and Technology Conference)(Brief Article)
August 27, 2003... PHILADELPHIA -- As chain pharmacy battles this year and next for industry-friendly legislation in areas like Medicare reform and drug importation, it will need its own version of a "shock and awe" campaign by pharmacy leaders in the halls of...

Walgreens to acquire 16 Hi-School Pharmacy stores.(Brief Article)
August 27, 2003... DEERFIELD, Ill. -- Looking to bolster its presence in the Northwest, Walgreens announced yesterday that it plans to acquire 16 Hi-School Pharmacy locations in Portland, Ore., and Vancouver, Wash. Terms of the deal were not disclosed. ...

Longs sees drop in second quarter EPS; plans new format.(Longs Drug Stores Corp.)(Brief Article)
August 27, 2003... WALNUT CREEK, Calif. -- Longs Drug Stores posted lower earnings for its second quarter and reported that 69 store managers, out of 463, left the chain as part of a voluntary separation program. The 464-store retailer reported earnings of...

Blackout expected to impact Duane Reade's third quarter.(Brief Article)
August 27, 2003... NEW YORK -- Manhattan's drug chain Duane Reade stated Friday that the recent blackout, which left 50 million people in the dark and forced many businesses to temporarily close up shop, is expected to result in a $700,000 charge, or 3 cents...

Despite soft second quarter, ShopKo remains optimistic.(ShopKo Stores Inc. reports second quarter financial results)(Brief Article)
August 27, 2003... GREEN BAY, Wis. -- ShopKo Stores last week posted soft second quarter sales results, but the company remains optimistic as it gears up for the debut of its free-standing drug store concept called ShopKo Express Rx. Total sales for the...

Schering-Plough to cut jobs.(Brief Article)
August 27, 2003... KENILWORTH, N.J. -- Schering-Plough's new chairman and chief executive officer Fred Hassan revealed Friday a restructuring plan that includes eliminating executive bonuses and cutting about 1,000 jobs. The company also stated that,...

Albertsons converts El Paso units to combo store format.(Brief Article)
August 27, 2003... TOLLESON, Ariz. -- Albertsons has completed dual branding initiatives at its eight stores in El Paso, creating essentially two stores under one roof. The combo stores, known as Albertsons-Savon, feature more than 10,000 new drug store items....

Rayovac to buy Remington.(Remington Products Co.)(Brief Article)
August 27, 2003... MADISON, Wis. -- Rayovac, the No. 3 battery maker in the United States, will acquire electric shavers and grooming products maker Remington Products Co. in a move to position itself as a more diversified consumer products company, said...

Wal-Mart is boosting its guidance for August's same-store sales to between 4 percent and 6 percent.(Financials)(Brief Article)
August 27, 2003... BENTONVILLE, Ark. -- Wal-Mart is boosting its guidance for August's same-store sales to between 4 percent and 6 percent. Previously, the discount retailer expected comp-store sales to range between 3 percent and 5 percent. Strongest...

ShopKo Stores has completed an amendment and a four-year extension of its $450 million senior secured revolving credit agreement.(Financials)(Brief Article)
August 27, 2003... GREEN BAY, Wis. -- ShopKo Stores has completed an amendment and a four-year extension of its $450 million senior secured revolving credit agreement. The financing carries improved terms, including a lower interest rate and increased advance...

Shares of Pfizer slipped 1.7 percent last Wednesday to close at $30.74 after Bayer AG and GlaxoSmithKline announced the FDA approval of Levitra.(Financials)(Brief Article)
August 27, 2003... NEW YORK -- Shares of Pfizer slipped 1.7 percent last Wednesday to close at $30.74 after Bayer AG and GlaxoSmithKline announced the FDA approval of Levitra, a treatment for erectile dysfunction, that will go head-tohead with Pfizer's Viagra.

Longs Drug Stores announced last week that its board of directors has declared a quarterly cash dividend on common shares of 14 cents per share.(Financials)(Brief Article)
August 27, 2003... WALNUT CREEK, Calif. -- Longs Drug Stores announced last week that its board of directors has declared a quarterly cash dividend on common shares of 14 cents per share payable Oct. 10 to shareholders of record at the close of business on...

The news that the recent blackout would negatively impact Duane Reade's third quarter results made little waves on Wall Street.(Financials)(Brief Article)
August 27, 2003... NEW YORK -- The news that the recent blackout would negatively impact Duane Reade's third quarter results made little waves on Wall Street as shares slipped only 1.5 percent to close at $17.40 on Friday, the day the news was released.

NACDS will join with the Agency for Healthcare Research and Quality, the FDA and health and pharmacy organizations for a pioneering conference here on pharmacy care.(Newsbites)(National Association of Chain Drug Stores)(Brief Article)
August 20, 2003... WASHINGTON -- NACDS will join with the Agency for Healthcare Research and Quality, the FDA and health and pharmacy organizations for a pioneering conference here on pharmacy care. The Sept. 19 event is called "Providing Quality...

Online health and beauty aid retailer drugstore.com has launched its new Natural Store, located at www.drugstore.com.(Newsbites)(Brief Article)
August 20, 2003... BELLEVUE, Wash. -- Online health and beauty aid retailer drugstore.com has launched its new Natural Store, located at www.drugstore.com. The Natural Store will provide shoppers with information and guidelines on how to live a healthier,...

In an effort to recognize Medicine Shoppe licensees and pharmacists who provide quality customer service, the company recently presented more than 140 Licensee Recognition Awards.(Newsbites)(Brief Article)
August 20, 2003... ST. LOUIS -- In an effort to recognize Medicine Shoppe licensees and pharmacists who provide quality customer service, the company recently presented more than 140 Licensee Recognition Awards. Winners received various prizes, depending on the...

Drug chains up and running despite blackout.
August 20, 2003... NEW YORK -- Last week's blackout, which paralyzed most of the Northeast and left millions of people in the dark, may have bruised the retail industry but several drug chains did their best to serve customers in need of water, flashlights,...

Independent Rx groups sue PBMs over antitrust charges.(prescription benefit managers Medco Health Solutions, AdvancePCS face class action lawsuits from National Community Pharmacists Association, Pharmacy Freedom Fund)(Brief Article)
August 20, 2003... PHILADELPHIA -- The nation's top two prescription benefit managers are violating antitrust laws and harming some 140 million Americans and the community pharmacy industry, two independent pharmacy groups are charging. In separate class...

Walgreens targets hispanic shoppers with new Web site.(Brief Article)
August 20, 2003... DEERFIELD, Ill. -- Today a growing number of retailers are looking for innovative ways to target the Hispanic community. Among the latest to make such a move is Walgreens, which announced yesterday a new Hispanic Web site. The drug chain...

Judge denies Albertson's request to exit Fleming deal.(Brief Article)
August 20, 2003... WILMINGTON, Del. -- The judge overseeing the bankruptcy case of grocery wholesaler Fleming Cos. denied Albertson's request to escape supply contracts with Fleming, according to a Dow Jones report. Only 40 of Albertson's 2,300-plus stores...

Rite aid trial pushed to Sept. 29.(for Franklin Brown)(Brief Article)
August 20, 2003... HARRISBURG, Pa. -- Trial proceedings for Franklin Brown, Rite Aid's ex-chief counsel and the only former Rite Aid executive charged with securities fraud not to plea bargain his case, have been postponed one week to Sept. 29. The...

AstraZeneca gets green light for highly anticipated Crestor.(Brief Article)
August 20, 2003... WILMINGTON, Del. -- AstraZeneca last week received FDA approval for the much anticipated blockbuster Crestor. Crestor has been projected to reach $3 billion in sales in the first two years, according to analysts, joining what is currently...

Feds propose stricter prescription payment rules.(Brief Article)
August 20, 2003... WASHINGTON -- New, tougher payment guidelines for doctors who dispense and administer the few medicines covered by Medicare may be in the works. The proposed guidelines, announced by the Centers for Medicare & Medicaid Services last...

To celebrate the distribution of 270 million shares of Medco Health stock and the company's spinoff from Merck & Co., Medco Health chief executive officer David Snow yesterday rang the bell to open trading on the New York Stock Exchange.(Financials)(Brief Article)
August 20, 2003... NEW YORK -- To celebrate the distribution of 270 million shares of Medco Health stock and the company's spinoff from Merck & Co., Medco Health chief executive officer David Snow yesterday rang the bell to open trading on the New York Stock...

Shares of AstraZeneca fell 1.6 percent to close at $41 yesterday after Novartis revealed that its generics unit Sandoz is launching a generic form of AstraZeneca's Prilosec in the United States.(Financials)(Brief Article)
August 20, 2003... BASEL, Switzerland -- Shares of AstraZeneca fell 1.6 percent to close at $41 yesterday after Novartis revealed that its generics unit Sandoz is launching a generic form of AstraZeneca's Prilosec in the United States. Shares of Novartis...

Target Corp. reported Thursday that second-quarter sales rose 9.1 percent to $10.98 billion, driven by 11.3 percent sales gains at its Target Stores division.(Financials)(Brief Article)
August 20, 2003... MINNEAPOLIS -- Target Corp. reported Thursday that second-quarter sales rose 9.1 percent to $10.98 billion, driven by 11.3 percent sales gains at its Target Stores division. Total same-store sales rose 1.5 percent. Earnings were $358 million,...

Marks & Spencer Group is no longer in discussions to sell its North American supermarket business Kings Super Markets.(Financials)(Brief Article)
August 20, 2003... LONDON -- Marks & Spencer Group is no longer in discussions to sell its North American supermarket business Kings Super Markets. The news came just weeks after Gristede's Foods revealed that it would make a second attempt to buy Kings for...

Wal-Mart.(Financials)(releases same-store sales data for August)(Brief Article)
August 20, 2003... BENTONVILLE, Ark. -- Wal-Mart stated Monday that U.S. same-store sales are tracking at the high end of the 3 percent to 5 percent range for the August period.

The FDA had yet to approve AstraZeneca's potential blockbuster Crestor at press time yesterday.(Newsbites)(Brief Article)
August 13, 2003... WILMINGTON, Del. -- The FDA had yet to approve AstraZeneca's potential blockbuster Crestor at press time yesterday. It was generally expected, however, that the FDA would approve the cholesterol drug based on a unanimous recommendation from...

Revlon has tapped another Coca-Cola executive to join its team, bringing the total to six.(Newsbites)(firm hires Thomas McGuire as executive vice president, chief financial officer)(Brief Article)
August 13, 2003... NEW YORK -- Revlon has tapped another Coca-Cola executive to join its team, bringing the total to six. Thomas McGuire, an 18-year Coca-Cola veteran, has joined Revlon as executive vice president and chief financial officer. His positions held...

AmerisourceBergen has launched its new AutoMed Efficiency Pharmacy R800, a store-level vial-filling automation system.(Newsbites)(Brief Article)
August 13, 2003... VALLEY FORGE, Pa. -- AmerisourceBergen has launched its new AutoMed Efficiency Pharmacy R800, a store-level vial-filling automation system. Designed to meet the needs of fast-paced retail and outpatient pharmacies averaging 200 to 800...

Spartan Stores, which also operates 21 The Pharm deep discount drug stores, has elected three new board members.(Newsbites)(Brief Article)
August 13, 2003... GRAND RAPIDS, Mich. -- Spartan Stores, which also operates 21 The Pharm deep discount drug stores, has elected three new board members and has appointed Spartan Stores president and chief executive officer Craig Sturken as chairman of the...

Longs Drug Stores was recognized last week by Schering-Plough for its exceptional support behind the Claritin OTC launch.(Newsbites)(Brief Article)
August 13, 2003... WALNUT CREEK, Calif. -- Longs Drug Stores was recognized last week by Schering-Plough for its exceptional support behind the Claritin OTC launch, naming the chain Claritin's best-in-class retailer for the California market.

Eckerd takes steps to battle 'disappointing' sales trend.(Brief Article)
August 13, 2003... CLEARWATER, Fla. -- Eckerd's trend of sluggish sales continued into its second quarter as sales inched up 2.3 percent to $3.66 billion and LIFO operating profit fell 26 percent to $54 million. The results, referred to by management as...

As Medicare reform effort stalls, federal Rx card gains steam.(Brief Article)
August 13, 2003... WASHINGTON -- Members of the House and Senate Conference Committee on Medicare reform have agreed in principal to support the rollout of a Medicare prescription drug discount card as negotiations on a broader drug benefit bill appear to have...

Pharmacy sales lead July results for Eckerd and Longs.(Brief Article)
August 13, 2003... NEW YORK -- Pharmacy sales at Eckerd and Longs Drug Stores led the way during July, helping to offset a decrease at the front end. Eckerd's pharmacy same-store sales increased 2.9 percent during July, while front-end sales slipped 5.8...

Supermarket Rxs drive traffic with in-store health programs.(according to survey from Food and Marketing Institute)(Brief Article)
August 13, 2003... WASHINGTON -- Increasing numbers of supermarket pharmacies are launching in-store health programs in hopes of becoming a whole health solution for shoppers, according to a recent survey by the Food and Marketing Institute. Based on the...

Pfizer becomes latest drug maker to take on Canadian pharmacies.(Brief Article)
August 13, 2003... NEW YORK -- Pfizer last week joined the ranks of GlaxoSmithKline, AstraZeneca and Wyeth in efforts to curb imports of branded pharmaceuticals from Canadian pharmacy operations. According to published reports, the pharmaceutical company...

Snyder's continues to expand, brews new urban retail theme.(Snyder's Drug Stores Inc.)(Brief Article)
August 13, 2003... MINNETONKA, Minn. -- Snyder's Drug Stores continues to flex its expansion muscle, staging a grand reopening of its Norristown, Pa., Drug Emporium and taking the wraps off a unique, urban-oriented Snyder's store in downtown Minneapolis. ...

FDA's new generic drug rules scheduled to take effect Aug. 18.(Brief Article)
August 13, 2003... WASHINGTON -- The FDA's new rules to speed generic drugs more quickly to market are set to take effect Aug. 18. The regulations, first published in June, will limit the number of automatic 30-month stays on loss of patent protection that...

July sales performances.(includes ranking of top nine retailers by pharmacy sales)(Brief Article)(Illustration)
August 13, 2003... July sales performances Total monthly % increase Same-store $ sales over sales Company in billions last year % increase ...

Ahold, which earlier this year revealed accounting irregularities at its U.S. Foodservice unit.(Financials)(supermarket chain will delay fiscal 2002 financial statements)(Brief Article)
August 13, 2003... ZAANDAM, Netherlands -- Ahold, which earlier this year revealed accounting irregularities at its U.S. Foodservice unit, apparently needs more time to make accounting adjustments to its fiscal year 2002 financial statements as a result of the...

Bristol-Myers Squibb received a warning letter last week from the FDA concerning exaggerations made in the company's Pravachol ads, according to published reports.(Financials)(Brief Article)
August 13, 2003... WASHINGTON -- Bristol-Myers Squibb received a warning letter last week from the FDA concerning exaggerations made in the company's Pravachol ads, according to published reports. In separate news, BMS disclosed in a recent regulatory filing...

Wal-Mart stated Monday in its weekly sales update that back-to-school sales are "off to a good start" as comparable-store sales track within the 3 percent to 5 percent range for the August period.(Financials)(Brief Article)
August 13, 2003... BENTONVILLE, Ark. -- Wal-Mart stated Monday in its weekly sales update that back-to-school sales are "off to a good start" as comparable-store sales track within the 3 percent to 5 percent range for the August period. The strongest categories...

Safeway plans to file a counterclaim against Yucaipa, which filed a losing bid for Safeway's Dominick's chain.(Financials)(Brief Article)
August 13, 2003... PLEASANTON, Fla. -- Safeway plans to file a counterclaim against Yucaipa, which filed a losing bid for Safeway's Dominick's chain. Yucaipa had slapped Safeway with a suit for allegedly using Yucaipa and its union connections to facilitate a...

The NACDS announced last Wednesday new dates for the 2004 Marketplace Conference.(Newsbites)
August 6, 2003... ALEXANDRIA, Va. -- The NACDS announced last Wednesday new dates for the 2004 Marketplace Conference. The event, initially scheduled for Father's Day weekend, will now be held in San Diego on Monday, June 21 to Thursday, June 24.

Albertsons has tapped ex-Dell executive J. Sean McKinless to serve as its senior procurement executive.(Newsbites)(Brief Article)
August 6, 2003... BOISE, Idaho -- Albertsons has tapped ex-Dell executive J. Sean McKinless to serve as its senior procurement executive. As group vice president of procurement, McKinless will assume responsibility for creating a sourcing operation while...

Longs Drug Stores has appointed Phyllis Proffer as director of investor and public relations, reporting to Steven McCann, senior vice president, chief financial officer and treasurer.(Newsbites)(Brief Article)
August 6, 2003... WALNUT CREEK, Calif. -- Longs Drug Stores has appointed Phyllis Proffer as director of investor and public relations, reporting to Steven McCann, senior vice president, chief financial officer and treasurer. Most recently, Proffer was vice...

Kmart is hoping to win-over its Hispanic shoppers by debuting today its new exclusive Thalia label.(Newsbites)(Brief Article)
August 6, 2003... TROY, Mich. -- Kmart is hoping to win-over its Hispanic shoppers by debuting today its new exclusive Thalia label, a collection of branded women's apparel, accessories and footwear inspired by Latin entertainer Thalia.

Duane Reade has teamed up with Astoria Federal Savings and the Long Island Radio Group.(Newsbites)(Brief Article)
August 6, 2003... NEW YORK -- Duane Reade has teamed up with Astoria Federal Savings and the Long Island Radio Group to kick off Astoria Federal's 5th Annual Kids Tools for School collection drive throughout Nassau, Suffolk, Brooklyn, Queens and Westchester to...

Gross margin improvements drive strong 2Q at CVS.(Brief Article)
August 6, 2003... WOONSOCKET, R.I. -- Driven by steadily improving gross margins, CVS finished its second quarter with earnings of roughly 49 cents a share, an increase for CVS, chairman, president and chief executive officer Tom Ryan explained to analysts...

Value Card is special anniversary present for Kinney shoppers.(Kinney Drugs introduces customer loyalty program)(Brief Article)
August 6, 2003... GOUVERNEUR, N.Y. -- Kinney Drugs marked its 100th year in the drug store business last week with the unveiling of the Kinney Value Card, its new customer loyalty program. Kinney began enrolling customers July 28, signing up some 20,000...

Prescription drug card proposal snags Medicare debate.(Brief Article)
August 6, 2003... WASHINGTON -- The Bush administration's plan for a federally subsidized drug discount card administered by PBMs is back in the news, and it has reportedly snagged progress on a Medicare drug benefit bill for seniors. The discount card...

Pharmacy sales fuel growth at drug chains during July.(Rite Aid, CVS, Walgreens)(Brief Article)
August 6, 2003... NEW YORK -- Three leading drug chains announced this week solid July sales results, thanks largely to strong gains in pharmacy. At Rite Aid, pharmacy sales led the way as comparable-store sales rose 7.4 percent. Same-store sales increased...

Spartan Stores 'delighted' with success of drug stores.(The Pharm)(Brief Article)
August 6, 2003... GRAND RAPIDS, Mich. -- Spartan Stores president and chief executive officer Craig Sturken is "delighted" with the current position of The Pharm deep discount drug stores it snapped up with its 2000 acquisition of Seaway Food Town. "The...

Asda unveils new Rx format.(Brief Article)
August 6, 2003... LONDON -- Following the news that the Department of Trade and Industry unveiled new measures to ease the restrictions on the number of pharmacies operating in any area, Asda announced that it is piloting a new "shop floor" pharmacy that could...

Four drug chains to participate in POP advertising study.(Point-of-Purchase)(Brief Article)
August 6, 2003... WASHINGTON -- Four leading drug chains have agreed to participate in a first-of-its-kind study where Point-of-Purchasing Advertising International will measure how in-store advertising and placement of product displays influence sales in drug...

Fred's shuffles exec team.(Brief Article)
August 6, 2003... MEMPHIS, Tenn. -- Fred's, which operates more than 400 general merchandise stores, of which about half have pharmacies, announced last week a string of executive moves. Charles Brunjes, ex-senior vice president of store operations, has...

New products--namely Mach3-Turbo, Passion Venus, Sensor3 razors and the CrossAction Power battery toothbrushes--helped drive Gillette's second quarter 11 percent sales gain and 15 percent boost in net income.(Financials)(Brief Article)
August 6, 2003... BOSTON -- New products--namely Mach3-Turbo, Passion Venus, Sensor3 razors and the CrossAction Power battery toothbrushes--helped drive Gillette's second quarter 11 percent sales gain and 15 percent boost in net income. Gillette said it will...

With Special Olympics athletes from 15 states and more than 1,400 ShopKo suppliers, associates and friends in attendance.(Financials)(Brief Article)
August 6, 2003... GREEN BAY, Wis. -- With Special Olympics athletes from 15 states and more than 1,400 ShopKo suppliers, associates and friends in attendance, ShopKo president and chief executive officer Sam Duncan on Monday presented a check for $2.02 million...

In announcing its second quarter results, Revlon stated that, according to ACNielsen, the color cosmetics category fell 1.3 percent during the quarter, while consumption of the Revlon and Almay brands combined advanced 2.9 percent.(Financials)(Brief Article)
August 6, 2003... NEW YORK -- In announcing its second quarter results, Revlon stated that, according to ACNielsen, the color cosmetics category fell 1.3 percent during the quarter, while consumption of the Revlon and Almay brands combined advanced 2.9...

Smith's Food & Drug Stores, a division of Kroger, announced yesterday that it raised $145,000 in partnership with suppliers through Smith's first annual "Primary Focus Golf Tournament" held July 31.(Financials)(Brief Article)
August 6, 2003... SALT LAKE CITY -- Smith's Food & Drug Stores, a division of Kroger, announced yesterday that it raised $145,000 in partnership with suppliers through Smith's first annual "Primary Focus Golf Tournament" held July 31. All of the money raised...