Parent Wegmans to Close All Chase-Pitkin Stores
Rochester, N.Y., Unable to keep up in face of battering competition from The Home Depot and Lowe’s, all 14 Chase-Pitkin Home and Garden Centers, owned by Wegmans Food Markets and located throughout New York State, will be shuttered between March 2006 and sometime later in the year.
“Chase-Pitkin is simply not big enough to compete successfully and grow the business,” said chairman Robert B. Wegman.
Some of the 395 full-time and 1,253 part-time employees in the Rochester area will be employed by Wegmans, the company said.
Wegmans purchased Chase-Pitkin in 1974.
Family Dollar Announces 10 Million Share Repurchase
Matthews, N.C., Family Dollar Stores announced on Tuesday it has executed an overnight share repurchase transaction for the acquisition of 10 million shares, or approximately 6%, of the company’s outstanding common stock for an initial purchase price of $19.97 per share through Bank of America.
Walgreen Co. to Buy Infertility Specialty Pharmacy
Deerfield, Ill., Walgreens Health Services, the managed-care division of Walgreen Co., has agreed to acquire N.J.-based Schraft’s A Specialty Pharmacy LLC. The family-owned pharmacy is one of the nation’s leading providers of advanced fertility medications and services. Terms of the agreement were not disclosed. The acquisition is expected to close later this year, pending regulatory approval.
“We’re excited to reach this agreement with Schraft’s and look forward to making their services accessible to Walgreens pharmacy patients,” said Ron Weinert, VP of patient services, Walgreens Health Services.