Fred’s reports June sales
MEMPHIS, Tenn. Fred’s last week posted a 2% increase in sales for the five weeks ended July 3, reaching $178.3 million. Comparable-store sales for the month rose 1.7%, compared with an increase of 0.2% in the same period last year.
“June sales were ahead of the year-earlier period, … although they were slightly below our expectations,” stated Fred’s CEO Bruce Efird. “[However], we were pleased with the company’s overall performance and the improvement in sales mix resulting from our internal initiatives in June, driven by sales in ‘Core 5’ departments, the growth of prescription counts in our pharmacy department and customer traffic for the month,” he said. “The positive mix shift we are experiencing from ‘Core 5’ validates the importance of our strategic changes given the present economic environment.”
Through June, Fred’s opened one store, two express pharmacies, five additional pharmacies and refreshed 85 stores with its new Core 5 elements.
Fred’s Core 5 program is designed to highlight five strong trip-driving departments where Fred’s feels it has a marketable advantage over other small-box competitors — notably pharmacy, celebration and party, pet products, paper and chemical, and home products.
Roxane launches generic Amerge, Arimidex
COLUMBUS, Ohio Roxane Labs announced Thursday the launch of two new generic drugs.
The Columbus, Ohio-based generics subsidiary of German drug maker Boehringer Ingelheim, launched naratriptan tablets in the 1-mg and 2.5-mg strengths, and anastrozole tablets in the 1-mg strength.
Naratriptan tablets are used to treat acute migraine and are a generic version of GlaxoSmithKline’s Amerge, which had annual sales of around $60.2 million, according to IMS Health. Anastrozole is used to treat postmenopausal women with breast cancer and is a generic version of AstraZeneca’s Arimidex, which had annual sales of around $916.8 million.
Navarro Discount Pharmacies unveils revamped flagship store
MIAMI The largest Hispanic-owned pharmacy chain recently reopened its renovated flagship store.
Navarro Discount Pharmacies said the store — located on SW 8th Street in Miami — opened in 1961 as El Nacional Drug Store. Hundreds of customers attended the reopening, held June 24, along with City of Miami Mayor Tomas Regalado and the entire City of Miami Commission, local business owners and residents.
The renovation of the 10,000-sq.-ft. store includes a new merchandise layout, new colors, enhanced signage and such improved services for customers as a pediatric pharmacy for busy parents, free compounding pharmacy services, a free Diabetes Club for adults and children with diabetes and free prescription delivery for all customers.
Other stores in the Miami chain will undergo the same renovations and enhanced services, Navarro said.