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Finance & Capital Management

  • Walgreens cancels deal to buy Rite Aid

    Walgreens Boots Alliance has announced a new Rite Aid deal, effectively ending its nearly two-year quest to acquire the Camp Hill, Pa.-based drug store chain. The divestiture agreement with Fred's Pharmacy, whereby Fred's would buy 865 stores, is also terminated.  

  • Report: Staples to be split into three units

    Sycamore Partners has a plan for its newest retail acquisition, Staples.   The private equity firm, which purchased the office supply giant for $6.9 billion on Wednesday, plans to divide the chain into three separately financed units: U.S. retail; Canadian retail; and corporate-supply businesses, reported The Wall Street Journal reported. The three units will all remain under the same corporate umbrella.  

  • Analyst: New deal is ‘good compromise’ for Walgreens, Rite Aid — if FTC allows it

    The news that Walgreens is to scrap its $9.4 billion merger with Rite Aid is unsurprising. The glacial pace of the Federal Trade Commission investigation and increasing signals that the federal government would disallow the merger have forced a rethink.  

  • How one South Dakota mall continues to thrive

    Its Macy’s and J.C. Penney’s continue to do business. In-line stores close, but new tenants quickly assume their spaces. Shoppers continue to arrive from as far as 75 miles away.   The Empire Mall in Sioux Falls isn’t exactly bucking trends. It’s merely an example of a core precept of retail which states that malls will survive where jobs and rooftops are rising, according to a report in the local Argus Leader.   

  • Staples acquired in blockbuster deal

    The nation's largest office supply retailer is returning to private ownership.   Private equity firm Sycamore Partners has acquired Staples for $10.25 per share for cash. The deal is valued at about $6.9 billion.      

  • Fred's Pharmacy adopts poison pill ahead of merger deadline

    Fred’s Pharmacy is taking action to protect itself as the deadline for the Federal Trade Commission’s decision on Walgreens Boot Alliance’s proposed acquisition of Rite Aid merger draws closer.  

  • Convenience store chain in big expansion move

    QuikTrip Corp. is expanding into two new markets.   The convenience-store chain plans to open a total of 100 stores in the San Antonio and Austin (Texas) areas. Construction is expected to begin this winter, with the first locations scheduled to open in the summer of 2018.   The expansion marks QuikTrip's first new market entry in six years. In 2011, the company launched its Carolinas division, adding 75 stores in Charlotte, North Carolina and Greenville, South Carolina.   

  • Upcoming gift-card change could have bottom-line impact

    An accounting change could give a big boost to retailers' earnings.   The new Financial Accounting Standards Board, or FASB, revenue-recognition rule (ASC 606) goes into effect for public companies in 2018. One of the major implications of the new rule involves how the unredeemed dollar portion of company-issued gift cards, called breakage revenue, is recognized, according to a report by MarketWatch. The change will impact everyone who issues gift cards, including both online and offline retailers.    
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