FINANCE

Walgreens to acquire Rx business from Snyder’s Drug in Minnesota

BY CSA STAFF

Deerfield, Ill. Walgreens has agreed to acquire the pharmacy business and certain other assets of 25 company-owned Snyder’s Drug Stores in Minnesota.

Walgreens will acquire and continue to operate certain locations and anticipates staffing most of these store positions with Snyder’s employees. At other locations, Walgreens will purchase the prescription files and transfer them to nearby Walgreens pharmacies. Patients whose prescriptions are being transferred will be notified by letter once the transaction has been completed later this month.

After the transaction is completed, Snyder’s expects to cease operations of its company-owned stores. The acquisition is subject to certain customary terms and conditions. Financial terms of the transaction were not disclosed.

“We appreciate our customers’ many years of loyalty and patronage,” said Snyder’s president Neal Wahlman. “We determined that Snyder’s patients and customers could best be served by a large national player like Walgreens. In most cases, Walgreens had nearby pharmacies which will facilitate a smooth transition.”

Snyder’s has been in business for over 80 years. In addition to operating stores in Minnesota, the chain operates stores in Michigan, Illinois and Iowa.

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Nintendo game to feature Beyonce designs

BY CSA STAFF

REDMOND, Wash. Nintendo has partnered with Beyonce Knowles to give fans of its “Style Savvy” game for Nintendo DS and Nintendo DSi access to new designs from the entertainer’s Dereon clothing line co-created with her mother, designer Tina Knowles. As managers of their own virtual boutiques, players can incorporate these chic Dereon fashions as they create one-of-a-kind looks for their in-game clientele, Nintendo reported.

“‘Style Savvy’ is all about creativity and fashion, both of which are really important to me,” says Beyonce. “I love that I get to become a stylist and take over my own boutique, and it’s so much fun to see some of my Dereon designs added to the mix.”

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Sears names new head of retail services

BY CSA STAFF

HOFFMAN ESTATES, Ill. Sears Holdings announced that James Haworth will join the company as EVP and president of retail services succeeding Kevin Holt who will be leaving the company to pursue other opportunities. Haworth will be responsible for the oversight, leadership and strategic growth of retail services for all Kmart and Sears stores. He will serve as a member of the internal holding company business unit board of directors as well.

Haworth most recently served as chairman, president and CEO for Chia Tai Enterprises International Limited & CP Lotus, an investment holding company principally engaged in the operation of one-stop shopping centers within China. In 2005, he founded Business Decisions Inc., a consulting firm specializing in strategic product marketing for the retail, merchandising and supply chain industries. Previous to Business Decisions Inc., Haworth spent 20 years with Walmart Stores, in roles of increasing responsibility including EVP operations for Sam’s Club and EVP and COO of Walmart Stores.

“We’re very pleased that Jim is joining our executive team,” said Bruce Johnson, interim CEO and president of Sears Holdings. “He brings a wealth of global retail experience, demonstrated success in retail operations, merchandising and strategic planning along with a great understanding of how to create lasting relationships with customers. We thank Kevin for his contributions to the company and wish him well in all future endeavors.”

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