Walgreens completes Kerr Drug asset acquisition
Deerfield, Ill. – Walgreen Co. has completed its acquisition of certain assets of Kerr Drug’s retail drugstores and specialty pharmacy business. Financial terms of the agreement were not disclosed.
In fiscal year 2012, Kerr Drug’s retail drugstores and specialty pharmacy business recorded total sales of $381 million. As previously announced in September, the acquisition is an asset transaction and includes Kerr Drug’s retail drugstores, specialty pharmacy business and a distribution center. Kerr Drug retained ownership of its long-term care pharmacy business.
Kroger to invest $150 million in Dallas expansion
Dallas — During the next 24 months, Kroger will invest $150 million in North Texas to build five new Marketplace stores and to expand three locations, along with opening multiple fuel centers and remodeling existing properties. The growth initiative will create more than 1,700 full- and part-time career opportunities that offer competitive pay, healthcare plans, retirement options, product discounts and other incentives.
New stores will include Marketplace locations in Forney, Bartonville, North Richland Hills, Lewisville, and Granbury; as well as expanded stores in Flower Mound (22,000 new square feet and a fuel center), Irving (37,000 new square feet and an expanded fuel center), and Rockwall (17,000 new square feet). All new and expanded stores are expected to be completed no later than 2015.
"Kroger is a company that is focused on smart, strategic growth and providing a highly-satisfied customer shopping experience. Dallas is a market that continues to attract new residents and retailers because of its economic strength and stability," says Bill Breetz, president of Kroger Southwest. "We’ve operated here since 1958. In that period, we’ve grown our footprint to 85 stores and 43 fuel centers. We’ve successfully reached this point by closely monitoring the unique needs of this market and evolving to meet the requests of our customers."
Home Depot attempts to rectify racist tweet
Atlanta – The Home Depot is taking steps to make amends for a racist tweet it sent from its official account on Nov. 7. The tweet, a promotion aligned with ESPN college football coverage, showed a photo of two African-Americans playing the drums along with a person wearing a gorilla mask and the caption: “Which drummer is not like the others?”
Home Depot quickly pulled the tweet, but not before it was widely circulated on the Web and covered by several major news agencies. The retailer took to Twitter the evening of Nov. 7 to apologize.
“We have zero tolerance for anything so stupid and offensive,” says a tweet posted to the official Home Depot Twitter account at approximately 7 p.m. ET on Nov. 7. “Deeply sorry. We terminated agency and individual who posted it.”
Home Depot has also publicly stated it is reviewing its social media policies to determine how this tweet was authorized and to make sure no similar messages are ever released again.