The drug store powerhouse Walgreens announced in a press release on July 5 that it will buy 144 stores that are currently being operated under LaFrance Holdings. Walgreen Co. has settled with LaFrance for a $438 million dollar purchase in an effort to boost Walgreens' weak sales.
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\nThe deal is set to close in early September, giving Walgreens access to more coverage in the mid-South pharmaceutical sales market.<\/p>\n
"It will provide significant new pharmacy business for us in this region, while also enabling us to bring the Walgreens experience to many additional smaller communities where USA Drug has developed strong operational expertise" stated Walgreens president and CEO Greg Wasson.<\/p>\n
The Deerfield, Illinois-based company is trying to revamp its less-than-stellar sales through the purchase of a 45 percent stake in Alliance Boots, a leader of European pharmaceuticals, the Los Angeles Times reports. As of June 2012, Walgreens was the owner and operator of 8,359 stores across the United States, Guam and Puerto Rico, the newspaper notes. Walgreens saw sales dip to $5.6 billion, down from $6 billion in June 2011.<\/p>\n
As Walgreens expands, it may need new ways to track stock and sales across all of its locations. Inventory management software, such as the applications offered by Retail Pro, allows inventory-heavy stores to give customers the best purchasing experiences. <\/p>\n
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Walgreens is set to buy regional drug stores such as USA Drug, May’s Drug, Drug Warehouse and Med-X. Continue reading