More Retailers Aid Hurricane Harvey Victims
More retailers are coming to the aid of Southeast Texas and Louisiana as residents of the region work to recover from Hurricane Harvey.
More retailers are coming to the aid of Southeast Texas and Louisiana as residents of the region work to recover from Hurricane Harvey.
As Walgreens Boots progresses on its new plan to acquire 2,186 Rite Aid stores, the company reported net earnings and sales gains in its third quarter.
Walgreens and Rite Aid have terminated their merger agreement. The decision to terminate the merger agreement follows feedback on the merger’s prospects received from the Federal Trade Commission, Rite Aid said. Rite Aid added that the potential FTC objection led the company to believe that the parties would not have obtained the commission’s clearance to complete the merger.
As the retailers continue to pursue their merger deal, Walgreens Boots Alliance and Rite Aid Corp. have certified substantial compliance with the “Request for Additional Information” issued by the United States Federal Trade Commission.
Fred’s Inc. had added two new board members as the company awaits a decision from the Federal Trade Commission on its acquisition of 865 Rite Aid locations.
Fred’s reported a net loss in both its fourth quarter and fiscal year and continued to await the approval of Walgreens’ purchase of Rite Aid and the retailer’s related purchase of 865 Rite Aid stores.
Walgreens posted second quarter results in line with its expectations while the company expressed optimism that its pending acquisition of Rite Aid will be approved in July.
Walgreens Boots Alliance is partnering with communications services firm WPP and selected a team of WPP agencies to develop a comprehensive marketing strategy for its retail and wholesale businesses as well as its health and beauty product brands.
Rite Aid posted a soft third quarter following the news that it would sell 865 stores to Fred’s to pave the way for its merger with Walgreens.
Walgreens boosted its fourth quarter results, as the company continues to prepare to divest stores to pave the way for its acquisition of Rite Aid.