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DSN, CVS breakfast an opportunity to share focus
PALM BEACH, Fla. — The Drug Store News Group on Sunday co-hosted a breakfast with CVS Caremark to celebrate DSN’s March 12 “Category of One” issue. Larry Merlo, CVS Caremark president and CEO, shared with attendees CVS’ focus on leveraging personalization opportunities, through both marketing and assortment, to engender loyalty. Suppliers also were introduced to new CVS/pharmacy president Mark Cosby.
For pictures of the event, click here.
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Jean Coutu Group reduces stake in Rite Aid
LONGUEUIL, Quebec -- The Jean Coutu Group has sold 56 million of its approximately 234.4 million shares in Rite Aid, the company said Friday.
The Canadian retailing group said the $83.6 million, $1.51-per-share sale, which amounts to a nearly 24% reduction in the number of Rite Aid shares the company owns, would reduce its stake in Camp Hill, Pa.-based Rite Aid to 19.85%. The Jean Coutu group still owns about 178.4 million shares in the 4,667-store chain.