Chain Drug Review back issues from August 1989:
Investigation of Grass takes new twists. (Martin Grass bribery trial)
Aug 14, 1989; ... Investigation of Grass takes new twists CLEVELAND--The continuing investigation of Rite Aid Corp. president Martin Grass has taken several new twists, leaving prosecutors, attorneys and Rite Aid itself up in the air as to what may happen next. Grass, the 35-year-old son ...
Nonrecurring costs curb results at Revco. (Revco D.S. Inc.)
Aug 14, 1989 ... Nonrecurring costs curb results at Revco TWINSBURG, Ohio--Revco D.S., buffeted by a series of nonrecurring charges and disruptions in its business last summer and fall, suffered a decline in operating profits as its net loss widened during its fiscal 1989, ended June 3. For the ...
Grass is assembling Haag staff. (Roger Grass; Haag Drug)
Aug 14, 1989 ... Grass is assembling Haag staff INDIANAPOLIS--With licensing paperwork holding up finalization of his deal for Haag Drug until mid-August, Price Right Discount Pharmacy president Roger Grass, offering equity participation, has been hard at work assembling a new staff to man the ...
Bristol-Myers, Squibb to merge.
Aug 14, 1989 ... Bristol-Myers, Squibb to merge NEW YORK--Bristol-Myers Co. and Squibb Corp. have agreed in principle to merge, thus creating the second-largest health care products manufacturer in the world, in a transaction valued at $11.5 billion. Under terms of the agreement, ...
Pamida is strengthening its pharmacy operations. (Pamida Inc.)
Aug 14, 1989 ... Pamida is strengthening its pharmacy operations OMAHA--At a time when most discounters are paring pharmacy operations, Pamida Inc. is strengthening its position, with plans to open four more pharmacy counters by mid-September. "We're very committed to our pharmacy ...
Chains test Rxs by fax in D.C. area. (telephone facsimile transmissions of prescriptions; District of Columbia)
Aug 14, 1989 ... Chains test Rxs by fax in D.C. area WASHINGTON--Telephone facsimile transmissions for prescriptions may be the wave of the future. But, judging by the initial reaction to their use by Fantle's Drug Stores, Giant Food, and other chains here, there are still a few bugs to be worked ...
Wal-Mart slates '90 for California entry. (3 stores to open in north central area)
Aug 14, 1989 ... Wal-Mart slates '90 for California entry BENTONVILLE, Ark.--Wal-Mart will be making its first entry into California starting in the spring of 1990, with three stores in the north central area of the state. The stores, complete with pharmacy departments, garden centers and snack ...
Smith's unveils maiden financial report. (Smith's Food & Drug Centers' first report as a public company)
Aug 14, 1989 ... Smith's unveils maiden financial report SALT LAKE CITY--Smith's Food & Drug Centers, reporting for the first time as a public company, rang up 30.1% and 26.7% increases in profits and sales, respectively, during its second quarter. Earnings for the operator of 93 ...
NDC agrees to purchase Condor; merger to form powerhouse. (National Data Corp., Condor Corp.)
Aug 14, 1989 ...Merger to form powerhouseNDC agrees to purchase Condor ATLANTA--National Data Corp. has agreed in principle to acquire Condor Corp., a merger that would form the largest provider of pharmacy automation systems in the U.S. Condor, an Alabama-based ...
Mfrs. introduce products to combat AIDS epidemic. (pharmaceutical manufacturers)
Aug 14, 1989 ... Mfrs. introduce products to combat AIDS epidemic WASHINGTON--Reacting to the dangers posed by the AIDS epidemic, pharmaceutical manufacturers have doubled the number of drugs and vaccines being developed to treat the deadly syndrome over the past two years. As of mid-July there ...
Eight more charged in SEC probe. (Securities and Exchange Commission investigation of insider trading at Revco D.S.)
Aug 14, 1989 ... Eight more charged in SEC probe WASHINGTON--Eight more people have been charged with insider trading related to the 1986 leveraged buy-out of Revco, including a business partner of former Revco chairman Sidney Dworkin, the Securities and Exchange Commission has announced. ...
Walgreens hikes bottom line by 25% in third period.
Aug 14, 1989 ... Walgreens hikes bottom line by 25% in third period DEERFIELD, Ill.--Walgreen Co., aided by strong comparable-store and pharmacy sales, plus continuing efficiencies in expense control, pushed its bottom line up 25% during its third quarter, ended May 31. The operator of ...
Cash flow at Kroger soars in second qtr.
Aug 14, 1989 ... Cash flow at Kroger soars in second qtr. CINCINNATI--Reflecting strong sales and continuing cost disciplines throughout both Kroger's food and convenience stores, the company's flow from continuing units soared 29.1% in the second quarter, ended June 17. Operating cash flow from ...
Net income inches up for Bindley. (Bindley Western Industries)
Aug 14, 1989 ... Net income inches up for Bindley INDIANAPOLIS--Net income for Bindley Western Industries barely inched up despite a record sales performance during its second quarter, ended June 30. Sales for the leading drug wholesaler to drug chains reached $374 million, which is ...
RCOA sales rise 2.5% during fiscal year. (Retailing Corporation of America)
Aug 14, 1989 ... RCOA sales rise 2.5% during fiscal year MILWAUKEE--Beset by a number of nonrecurring expenses in its fourth quarter, Retailing Corporation of America plunged to a $2.5 million net loss during the fiscal year ended March 31, reversing a $1.71 million profit in fiscal 1988. ...
AADS best represents small and midsize chains. (Affiliated/Associated Drug Stores) (editorial)
Aug 14, 1989; ... AADS best represents small and midsize chains The most important meeting in the long history of the Affiliated Drug Stores and Associated Chain Drug Stores buying groups takes place in New York City next month, when the combined Affiliated/Associated group holds its first fall ...
Chain ties centralized, decentralized management. (American Drug Stores Special Report)
Aug 14, 1989 ... Chain ties centralized, decentralized management CDR Special Report--The boldest, most creative experiment in the chain drug industry in some considerable time is taking place in Oak Brook, Ill., and Anaheim, Calif., the two headquarters locations of American Drug Stores. There, ...
Aim is to intertwine units, communities. (American Drug Stores Special Report; includes related article)
Aug 14, 1989 ... Aim is to intertwine units, communities CDR Special Report--In order to relate its stores to its communities, American Drug Stores' management has taken five preliminary steps: * Changing the names of the chain's California and Las Vegas stores to Sav-on. * Establishing a buying ...
Store operations are traditional. (American Drug Stores Special Report)
Aug 14, 1989 ... Store operations are traditional CDR Special Report--American Drug Stores is the nation's No. 2 drug chain in sales, No. 10 in stores. The chain operates 665 drug stores in 27 states under both the Osco and Sav-on banners. Roughly two-thirds of that total bear the Osco ...
Fuglestad institutes corporate directives. (Tork Fuglestad; American Drug Stores Special Report)
Aug 14, 1989 ... Fuglestad institutes corporate directives CDR Special Report--As a regional vice president of American Drug Stores, Tork Fuglestad is responsible for seeing that corporate directives become reality at 143 stores throughout the central United States. "Our function at the regional ...
Merchandising tack is pragmatic, tailored. (American Drug Stores Special Report)
Aug 14, 1989 ... Merchandising tack is pragmatic, tailored CDR Special Report--American Drug Stores' merchandising strategy was creatively and succinctly summarized recently by Dominic Cavallo, the chain's senior vice president of marketing operations. "At one time," he says, "an Osco drug store ...
Grove vital to merchandising; oversees many functions. (Ron Grove; American Drug Stores Special Report)
Aug 14, 1989 ...Oversees many functionsGrove vital to merchandising CDR Special Report--Critical to the success of American Drug Stores' experiment in customized merchandising is Ron Grove, the chain's vice president of procurement. In that capacity, Grove, a 25-year American Drug ...
Drug chains are leading key arenas. (market share; American Drug Stores Special Report)
Aug 14, 1989 ... Drug chains are leading key arenas CDR Special Report--Reflecting its stature as the industry's second-highest-volume drug chain, American Drug Stores is a leader in a number of markets across the country. On the West Coast Sav-on places second in both the nation's ...
Technology altering photography arena. (American Drug Stores Special Report)
Aug 14, 1989 ... Technology altering photography arena CDR Special Report--Technological advances continue to change the competitive picture for drug chains that operate off-site photofinishing labs. First came mini-labs with their offers of one-hour service. Now there are electronic cameras that ...
Boyd oversees Rx operations. (Dick Boyd, V.P. of pharmacy; American Drug Stores Special Report)
Aug 14, 1989 ... Boyd oversees Rx operations CDR Special Report--American Drug Stores pharmacies, senior vice president of pharmacy operations Dick Boyd likes to point out, fill more prescriptions than all but one U.S. drug chain. Yet the chain's pharmacy operation gets very little recognition. ...
Role of Rx is discussed by Hoscheit. (Donald Hoscheit on pharmacy; American Drug Stores Special Report)
Aug 14, 1989 ... Role of Rx is discussed by Hoscheit CDR Special Report--With prescriptions accounting for 20% of all American Drug Stores sales, it's clear that pharmacy is an important part of the chain's business. Vice president of pharmacy operations Donald Hoscheit says it is, in fact, the ...
Warehouses support outlets. (American Drug Stores Special Report)
Aug 14, 1989 ... Warehouses support outlets CDR Special Report--The main purpose of having a warehouse system is to support stores better, says American Drug Stores vice president of distribution Arlyn White. "With some product lines," he says, "you can purchase the items more economically in ...
Human resources focuses on labor crunch. (American Drug Stores Special Report)
Aug 14, 1989 ... Human resources focuses on labor crunch CDR Special Report--While much of American Drug Stores' organization must concern itself with the regional variations in customer tastes and brand preferences, Pat Johnston has to be more concerned with regional labor markets. As vice ...
Shrinkage is target of program. (American Drug Stores Special Report)
Aug 14, 1989 ... Shrinkage is target of program CDR Special Report--One of the projects that vice president of loss prevention Ronald Green is proudest of is an in-store awareness program designed to help young employees "just say no to theft." The program, to be held in each American ...
Computer applications varied. (American Drug Stores Special Report)
Aug 14, 1989 ... Computer applications varied CDR Special Report--Computer systems and related technology are tools with a variety of useful applications for a modern drug chain, says vice president of systems John Dyer. Potential uses include helping the company cope with the labor shortage, ...
Four divisions make American Stores tick. (American Drug Stores Special Report)
Aug 14, 1989 ... Four divisions make American Stores tick CDR Special Report--American Drug Stores is an integral part of an approximately $20 billion supermarket, drug and combination store retailer that is at once America's largest and most diversified supermarket-based retailer. ...
Daring experiment to return chain to its customers. (American Drug Stores Special Report)
Aug 14, 1989 ... Daring experiment to return chain to its customers CDR Special Report--Dick Scott is fond of saying that American Drug Stores is already in the 1990s. If so, it is already a much different decade for the 665-store chain than the 1980s has been. It is different because it has ...
Teen fragrance market braces for round of activity: Revlon and MEM introducing brands.
Aug 14, 1989; ...Revlon and MEM introducing brandsTeen fragrance market braces for round of activity The teen fragrance segment is slated for a new round of product activity, it seems, with Revlon Inc. and MEM Co. introducing brands. Revlon's entry is Electric Youth by ...
New York area sees outburst of pharmacy activity.
Aug 14, 1989 ... New York area sees outburst of pharmacy activity ELMONT, N.Y.--The scheduled reopening of a Waldbaum outlet here and the recent debut of a King Kullen unit, also on Long Island, underscore the heightening chain pharmacy activity in the New York City area over the past year. As ...
Dart seeks protection under Chapter 11. (Dart Drug Stores Inc.)
Aug 28, 1989 ... Dart seeks protection under Chapter 11 LANDOVER, Md.--In what the chain views as its latest step toward a financial turnaround, Dart Drug Stores Inc. has filed a petition for financial relief under Chapter 11 of the Federal Bankruptcy Act. With its August 8 filing in ...
F&M charts aggressive course. (F&M Distributors gets new financing)
Aug 28, 1989 ... F&M charts aggressive course WARREN, Mich.--Armed with some $90 million worth of new financing, F&M Distributors has set itself on an expansion that could see it operating some 150 stores within the next three years. The growth plan, which will more than double the ...
Urquhart is at the helm of Wellby. (Margaret Urquhart; Wellby Super Drug Stores)
Aug 28, 1989 ... Urquhart is at the helm of Wellby SCARBOROUGH, Me.--When Margaret Urquhart talks about becoming the president of Wellby Super Drug Stores (the first woman to head a major drug chain) she remembers when she was one of two women store managers. Today some 50% of Wellby store ...
Rite Aid's indictment evokes key questions. (Ohio bribery case)
Aug 28, 1989 ... Rite Aid's indictment evokes key questions CLEVELAND--Although Rite Aid and president Martin Grass have been indicted by a Cuyahoga County grand jury for allegedly bribing a state-appointed pharmacy board member to resign, many legal and administrative questions remain unanswered ....
Revco may transcend Chapter 11. (Revco D.S. Inc.)
Aug 28, 1989 ... Revco may transcend Chapter 11 TWINSBURG, Ohio--While many pieces of the puzzle would apparently have to fall into place, Revco D.S. executive vice president and chief financial officer Gregory Raven suggests the company could emerge from the aegis of Chapter 11 bankruptcy ...
Chain sales climb for July.
Aug 28, 1989 ... Chain sales climb for July CDR Roundup--Sales warmed up slightly for the nation's drug chains in July, with volume climbing to $3.6 billion. That total was 11.1% higher than sales posted in the same month in 1988 and represented a slight improvement from the 10.9% ...
Pharmacy meeting to air legislative, labor issues. (National Association of Chain Drug Stores' 32nd Pharmaceutical Conference)
Aug 28, 1989 ... Pharmacy meeting to air legislative, labor issues WASHINGTON--The National Association of Chain Drug Stores is expecting an excellent turnout for its 32nd Pharmaceutical Conference, the chain drug industry's premier pharmacy meeting. For the more than 1,000 people ...
Revco is divesting Insta-Care; returns to core business. (Insta-Care Pharmacy Services; Revco D.S. Inc.)
Aug 28, 1989 ...Returns to core businessRevco is divesting Insta-Care TWINSBURG, Ohio--With the impending sale of its institutional health care business, Revco D.S., which was once a highly diversified company, will soon return to its retailing roots and function strictly as an ...
Analysts differ over McKesson intentions for PCS. (McKesson Corp.'s 86% interest in PCS Inc.)
Aug 28, 1989 ... Analysts differ over McKesson intentions for PCS SAN FRANCISCO--Recent rumblings from McKesson Corp. concerning whether it will add to or sell off its 86% interest in PCS Inc. have analysts wondering about the drug wholesaler's intentions. Wall Streeters who follow ...
N.Y.C. area hosts first Drug Emporium unit. (Union City, New Jersey store)
Aug 28, 1989 ... N.Y.C. area hosts first Drug Emporium unit UNION CITY, N.J.--The ethnic mix that makes up this city was clearly evident at the grand opening of the first Drug Emporium in the greater New York City area, here in mid-August. Located at one of the busiest intersections in the ...
Bid for B.A.T. is facing obstacles; Imasco awaits outcome. (Sir James Goldsmith takeover of B.A.T. Industries PLC)
Aug 28, 1989 ...Imasco awaits outcomeBid for B.A.T is facing obstacles LONDON--Sir James Goldsmith has gotten the ball rolling in his attempt to take over B.A.T Industries PLC, but whether or not he will be successful and how this could impact Imasco Ltd. is still unclear. The ...
Phar-Mor is entering Missouri.
Aug 28, 1989 ... Phar-Mor is entering Missouri ST. LOUIS--Phar-Mor is poised to enter Missouri, with construction already under way on two of the 10 units it plans for this area. The discount store chain is also searching for two sites in Kansas City. The Missouri stores are part of the ...
Upbeat performance recorded by Peoples in the second period. (Peoples Drug Stores Inc.)
Aug 28, 1989 ... Upbeat performance recorded by Peoples in the second period ALEXANDRIA, Va.--As Peoples Drug Stores prepared to sever the last group of stores that had been weighing down its profit margins, Montreal-based parent Imasco Ltd. released another encouraging report on the chain's ...
Wellby makes solid sales gain; Hannaford net up 51%. (Wellby Super Drug Stores; Hannaford Brothers Co.)
Aug 28, 1989 ...Hannaford net up 51%Wellby makes solid sales gain SCARBOROUGH, Me.--Wellby Super Drug Stores, reporting substantial gains in same-store and overall sales, apparently did its part to help parent Hannaford Bros. ring up a huge earnings advance during its second ...
Thrifty net slumps 8% in 2nd qtr.
Aug 28, 1989 ... Thrifty net slumps 8% in 2nd qtr. LOS ANGELES--Blaming price competition, Thrifty Corp. reported that operating earnings slumped by 8.3% during its second fiscal quarter, despite a 48.2% acquisition-induced jump in sales volume. The Pacific Enterprises retail subsidiary ...
Medicine Shoppe posts 23% advance in income. (Medicine Shoppe International Inc.)
Aug 28, 1989 ... Medicine Shoppe posts 23% advance in income ST. LOUIS--Although revenue growth temporarily slowed from the 20%-plus level attained earlier in the fiscal year, Medicine Shoppe International nonetheless posted a 22.8% advance in third quarter net income to $1.94 million from $1.58 ...
SDM delivers double-digit growth to parent Imasco. (Shoppers Drug Mart division)
Aug 28, 1989 ... SDM delivers double-digit growth to parent Imasco WILLOWDALE, Ontario--The Shoppers Drug Mart division of Imasco Ltd. delivered to its parent another quarter of double-digit growth in operating profits and retail sales. For the three months ended June 30 Canada's largest drug ...
The meal replacement program. (sponsored by Thompson Medical Co.) (panel discussion)
Aug 28, 1989 ... The Meal Replacement Market A Panel Discussion Sponsored By Thompson Medical Co.Against the reemergence of the meal replacement category as a major retail sales producer, Thompson Medical Co., marketer of the Slim-Fast meal replacement brand and the nation's leading ...
Wall Street rally pushes chain drug stocks forward.
Aug 28, 1989 ... Wall Street rally pushes chain drug stocks forward NEW YORK--Chain drug stocks, carried upward by Wall Street's 1989 summer bull market, zoomed to all-time highs during July. In July Chain Drug Review's chain drug stock index, containing the 11 publicly held drug stocks, soared by ...
McKesson reports flat earnings; drug unit's results solid.
Aug 28, 1989 ...Drug unit's results solidMcKesson reports flat earnings SAN FRANCISCO--McKesson Corp., facing a tough comparison with an extremely profitable year-earlier period and a decline in operating performance in three of its five major holdings, reported flat earnings from ...
Enrollment up in fewer HMOs. (includes related articles)
Aug 28, 1989 ... Enrollment up in fewer HMOs The number of organizations that are in operation or are now under development is dropping KANSAS CITY--While the number of health maintenance organizations operating and under development is dropping, nationwide enrollment in such plans ...
Rubs are a growing analgesics segment. (includes related article)
Aug 28, 1989 ... Rubs are a growing analgesics segment CDR Roundup--Crossover in the external analgesics category makes it difficult to evaluate the performance of certain segments, such as sports rubs. However, reports from manufacturers and the influx of new products show that these products ...
HCFA hears the preproposal plan. (Health Care Financing Administration to award claims processing contracts; Retail Pharmacy )
Aug 28, 1989 ... HCFA Hears the Preproposal Plan WASHINGTON--If all goes as scheduled, the Health Care Financing Administration will award its Medicare claims processing contracts early next year, according to that agency's final request for proposals. At HCFA's "preproposal" conference ...
Old guard changes. (retirement of drug store executives; Retail Pharmacy)
Aug 28, 1989; ... Old Guard Changes The upcoming (August 27 to August 30) National Association of Chain Drug Stores Pharmaceutical Conference in Washington, D.C., is the last such event that Stan Kohn will attend as vice president of professional relations for SuperRx Drugs. Kohn will retire before ...
The industry is behind Fantle's reorganization 100%. (Dart Drug Chapter 11 announcement) (editorial)
Aug 28, 1989; ... The industry is behind Fantle's reorganization 100% No chain drug industry figure is more admired or better liked than Bud Fantle, the chief executive officer at Fantle's Drug. So the reaction to the announcement earlier this month that Fantle's was seeking protection under ...
Mergers to profit retailers. (pharmaceutical company mergers; Retail Pharmacy)
Aug 28, 1989; ... Mergers To Profit Retailers NEW YORK--The pharmaceutical industry's recent mergers should spell good news for consumers, and for the chain drug retailers, with the likelihood that innovative drugs for tough, hard-to-treat diseases will be developed and marketed more quickly. ...
FDA revokes the ANDAs it granted to Par and ATI. (Food and Drug Administration revokes abbreviated new drug application approvals; Par Pharmaceutical; American Therapeutics Inc.; Retail Pharmacy)
Aug 28, 1989 ... FDA Revokes the ANDAs It Granted to Par and ATI WASHINGTON--The Food and Drug Administration, in the first of what may be a series of such moves, has revoked previously sanctioned, abbreviated new drug application approvals granted to Par Pharmaceutical and American Therapeutics ...
Revco targets change to be customers' friend for life. ("A Friend for Life" corporate theme; Retail Pharmacy)
Aug 28, 1989 ... Revco Targets Change to Be Customers' Friend for Life Introduces human element with a neighborhood image TWINSBURG, Ohio--Revco D.S. has instituted major changes in its pharmacy division to bring it under the umbrella of its new corporate theme, A Friend for Life. ...
Pharmacists are key to reorganization. (Revco D.S. reorganization; includes related articles; Retail Pharmacy)
Aug 28, 1989 ... Pharmacists Are Key To Reorganization TWINSBURG, Ohio--The keys for the refocusing of Revco D.S.' pharmacy business are the pharmacists. "They're the cornerstone of our efforts," explains Revco vice president of pharmacy marketing Dante Barone. "If pharmacists can't interface ...
ANDA changes seem imminent. (abbreviated new drug applications; Retail Pharmacy)
Aug 28, 1989 ... ANDA Changes Seem Imminent NEW YORK--Generic drug companies may find it more difficult to get their products to market in the 1990s if there is a revamp of the Food and Drug Administration approval process for abbreviated new drug applications, according to analysts and trade ...
Generics firms fear effects of scandals. (FDA bribery scandal; Retail Pharmacy)
Aug 28, 1989 ... Generics Firms Fear Effects of Scandals NEW YORK--The FDA bribery scandal has generic drug manufacturers worried about losing potential revenues. They want it behind them quickly, so as not to impose upon the expected windfall they should derive from some of the best-selling brand ...