RETAIL NEWS

Rite Aid a go-to shop for everything this Valentine’s Day

BY Michael Johnsen

Rite Aid is helping Cupids everywhere this Valentine’s Day by offering a wide assortment of gifts, cards and giftwrap to celebrate the season.

Nothing says Valentine’s Day like a heart-shaped box of chocolates, and Rite Aid shelves are lined with a large assortment of boxed chocolate hearts in all shapes from favorites such as Dove, Ferrero Rocher, Russell Stover and Whitman’s. Little sweethearts will swoon over boxed chocolate and mini-plush gifts featuring Snoopy, hedge hogs and teddy bears. And fill the candy dish seasonal treats like Hershey Kisses, M&M’s and classic conversation hearts and bite-d chocolates from Ghirardelli and Lindt.

Whatever you’re trying to say Feb. 14, Rite Aid has a card for this Valentine’s Day. And Rite Aid features kits with stickers or candy and favorite designs like Paw Patrol, Guardians of the Galaxy, My Little Pony and Cars.

Seasonal plush items include animated spinners, dancing animals and a 51-inch giant plush teddy bear with and embroidered heart. Or, pick up a Valentine’s Day themed puppy, bear, hippo, frog or monkey, available in a variety of colors and s. Novelty gifts include love coupon books, coffee mugs and tumblers make the perfect addition to any gift.

Rite Aid also has fragrances on hand, including brands like Calvin Klein, Vera Wang or Juicy Couture for women and Burberry, David Beckham or Dolce & Gabbana for men.

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Rite Aid store transfers pass halfway mark

BY DSN STAFF

The Rite Aid-Walgreens transition is on track to be completed by spring.

Camp Hill, Pa.-based Rite Aid has successfully transferred 1,114 stores to Walgreens Boots Alliance and has received cash proceeds of $2.424 billion, which the company continues to use to reduce debt. The drug store chain said it expects to finish the transfer by spring.

“As we work to complete this process, we remain focused on opportunities to build our business while delivering a great experience to our customers and patients and driving value for our shareholders,” Rite Aid chairman and CEO John Standley said.

Now that the halfway point is passed, Rite Aid has gained 10-year access to the Walgreens Boots Alliance Development generics purchasing organization, which Rite Aid president and COO Kermit Crawford told the J.P. Morgan Healthcare Conference in January would play a big role in keeping the chain competitive.

“This is huge,” Crawford said. “One of the concerns we’ve heard is ‘You’re a smaller company, are you going to be able to buy as well?’ This gives us the confidence that we will be able to buy our generic purchasing at a very competitive rate.”

Walgreens purchased a total of 1,932 stores, three distribution centers and related inventory from Rite Aid for $4.375 billion in cash.

Most of the stores being sold to Walgreens are in the southeastern U.S., leaving Rite Aid with the majority of its stores on the East and West coasts.

In addition to allowing Rite Aid to reduce its debt, the sale and ongoing transition of stores bolstered the chain’s profits for the third quarter. Net income rose to $81.03 million, in the quarter ended Dec. 2, from $15.01 million.

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Kevin Hourican
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Hourican to lead CVS Pharmacy during search for Foulkes’ successor

BY David Salazar

CVS Health’s retail division will be helmed by a longtime company hand as it searches for a replacement president. The company on Thursday said that Kevin Hourican would be at the helm of CVS Pharmacy while the company looks internally and externally to find a successor for former president Helena Foulkes, who is the incoming CEO of Hudson’s Bay.

Hourican is currently CVS Health’s executive vice president of retail pharmacy and supply chain, a role he moved into nearly two years ago after four years as senior vice president of field operations and supply chain. He joined CVS Health in 2012 from Macy’s, where he was a senior vice president.

While the search to fill the president role on a permanent basis takes place, Hourican will report to CVS Health executive vice president and COO Jon Roberts.

Hourican recently participated in DSN’s Industry Issues Summit, where he participated in a panel discussion on how to overcome barriers to patient-facing care.

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