Price Chopper acquires Fairway Pharmacy in Montrose, PA
SCHENECTADY, N.Y. — Price Chopper Supermarkets announced Tuesday that it had acquired the Montrose, PA-based Fairway Pharmacy. Until a new pharmacy is constructed inside Montrose’s Price Chopper location, operations will continue out of the acquired location. The Fairway team has joined Price Chopper, including owner Jerry Prusack, who will continue as the pharmacist at the acquired location.
“We are delighted to welcome Jerry and the Fairway team to the Price Chopper family,” Kathy Bryant, VP Pharmacy for Price Chopper, said. “We look forward to building upon the foundation of trusted and convenient pharmacy care that they have long provided to the Montrose community, while expanding and enhancing the patient services that are offered.”
As a result of the acquisition, Fairway customers now have access to Price Chopper’s savings programs and services like Fuel AdvantEdge rewards, free prenatal and children’s vitamins and free diabetes medications and diabetic supplies. The pharmacy’s hours have also expanded and Price Chopper is offering customers $25 off a new or transferred prescription until Nov. 7.
“We look forward to continuing to provide the high level of care that our patients have come to expect from us, and believe that the addition of support from Price Chopper’s highly regarded pharmacy division will increase our ability to serve the community,” Prusack said. “The construction of a brand new pharmacy inside the Price Chopper Supermarket marks a significant investment in our community that will provide our customers with the added convenience of one-stop shopping.”
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The Idea: Kip Tindell, CEO and Chairman of The Container Store, founded the company in 1978 with $35k, and a set of brave ideals. This retailer of "empty boxes" was profitable on day one and has enjoyed a historical average compounded growth rate of 21%. Equally important, it's been named one of the Best Places to Work in the U.S. 15 years in a row, debuting at #1 the first year they applied in 2000. What has been their secret? They hire the best talent with amazingly high expectations.
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The Container Store story is not a sexy business, nor is it the type of industry that seems ripe to steal tomorrow’s business school leaders. The organization makes containers and organizers for homes, offices or anyone looking to store things. But the company is vibrant, attracts great employees, pays higher than most service industries and is worth dissecting.
The organization pays their employees 50%-100% more than the average retailer and prides themselves on their team’s productivity, while only having a 10% annual turnover. How do they do all of this?
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