Ex-Rite Aid CEO Named President of Walgreens

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Ex-Rite Aid CEO Named President of Walgreens

Post by Alpha8472 »

https://www.supermarketnews.com/executi ... -president

Perhaps this will change Walgreens for the better. Rite Aid was doing quite well before the various attempted mergers.
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Re: Ex-Rite Aid CEO Named President of Walgreens

Post by storewanderer »

I have mixed feelings but the fact of the matter is under this guy RAD became slightly profitable, share price up to $10 when the first Walgreens deal was announced, wellness store format was developed, and the company seemed to be running quite well under him until he started with the desperate attempts to sell the company or enter into a merger.
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Re: Ex-Rite Aid CEO Named President of Walgreens

Post by buckguy »

He appears to have had a mixed record, at best and was fired along with a couple other executives. Two failed (and probably expensive) mergers and despite investing in the stores and negotiating better agreements with suppliers and a major benefit plan, sales have been flat overall. One of their few new stores (now a Walgreen) was near me--nice store with no customers and 2 CVS locations within a few blocks. At least he managed to off load the former Eckerd stores in the Southeast, which still had no customers even after Rite Aid replaced a lot of them. One observer described the recent jump in Rite Aid stock as a possible "dead cat bounce".
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Re: Ex-Rite Aid CEO Named President of Walgreens

Post by veteran+ »

These companies keep on recycling executive dotards.............lol

Walgreens will not do well with this newest import.
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Re: Ex-Rite Aid CEO Named President of Walgreens

Post by storewanderer »

veteran+ wrote: September 6th, 2020, 9:10 am These companies keep on recycling executive dotards.............lol

Walgreens will not do well with this newest import.
There aren't many executives left with experience in "managing national drug store chain." So I can see why Walgreens hired him... but actually before the whole thing with the Walgreens merger this guy was quite well respected within Rite Aid. Moreso than any of the past management was... however much that says.

Sort of like the problem with the department store chains. All the mergers, lousy labor practices at the store level that foster constant turnover so good talent does not stick around and ultimately move above store level as would happen in a healthy organization, and you have a problem where few people are left who understand the business and know how to run the business from an upper management level as everyone who knew what they were doing has long retired.
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Re: Ex-Rite Aid CEO Named President of Walgreens

Post by veteran+ »

Yep :-)

But well run to me (Rite Aid) is not acceptable as a consumer.

I have been to many Rite Aids in many States and find the same things that annoy me.

Very high prices comparing to Walgreens and CVS. Indifferent, uninformed and rude employees. Long lines with no back up. Ridiculous lines at the Pharmacy.

On the positive? Usually nice large stores that are clean and well merchandised.
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Re: Ex-Rite Aid CEO Named President of Walgreens

Post by storewanderer »

May want to check the pricing again- CVS pricing is 10-20% higher across the board on many items. CVS has recently done a lot of price increases. Unless you play the coupon/Extra Bucks/CRT machine in which case you can do very well at CVS. But you may end up with more toothpaste than some CVS Stores even have on their shelves right now. I have noticed Walgreens and Rite Aid have very similar shelf pricing lately across the board...

I just haven't seen the staffing issues at Rite Aid. Maybe it is different in SoCal... The NorCal Stores which I'd describe as medium-high volume I've been to are generally well staffed. Some seasonal issues around Tahoe but that is every business at Tahoe. Employees are friendly and there isn't much employee turnover (union wages). The ones I've been to in other regions have so few customers that the minimal amount of staffing present is enough to handle a store that only has a few people inside at once.
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Re: Ex-Rite Aid CEO Named President of Walgreens

Post by TW-Upstate NY »

storewanderer wrote: September 6th, 2020, 10:52 am All the mergers, lousy labor practices at the store level that foster constant turnover so good talent does not stick around and ultimately move above store level as would happen in a healthy organization, and you have a problem where few people are left who understand the business and know how to run the business from an upper management level as everyone who knew what they were doing has long retired.

Excellent point and how true! You know it took a while but "dumbing down" has finally reached the top levels of management. This is where the "race to the bottom" ultimately leads.
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Re: Ex-Rite Aid CEO Named President of Walgreens

Post by veteran+ »

storewanderer wrote: September 7th, 2020, 12:29 pm May want to check the pricing again- CVS pricing is 10-20% higher across the board on many items. CVS has recently done a lot of price increases. Unless you play the coupon/Extra Bucks/CRT machine in which case you can do very well at CVS. But you may end up with more toothpaste than some CVS Stores even have on their shelves right now. I have noticed Walgreens and Rite Aid have very similar shelf pricing lately across the board...

I just haven't seen the staffing issues at Rite Aid. Maybe it is different in SoCal... The NorCal Stores which I'd describe as medium-high volume I've been to are generally well staffed. Some seasonal issues around Tahoe but that is every business at Tahoe. Employees are friendly and there isn't much employee turnover (union wages). The ones I've been to in other regions have so few customers that the minimal amount of staffing present is enough to handle a store that only has a few people inside at once.
In San Diego the prices were the highest as of April of this year. CVS was second highest and DIRTY.

In Los Angeles the employees are beyond bad (Rite Aid). The stores look very good.
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Re: Ex-Rite Aid CEO Named President of Walgreens

Post by TW-Upstate NY »

They can be absolutely tone deaf on sale pricing too. In this week's ad, they're offering an item 2/$8.00 but you have to buy two to get the sale price. If you only want one, you pay regular price of $6.49. CVS and Walgreen's also have the same item on sale this week (listed as 2 for whatever their prices were-I'm too lazy to check right now but you get the idea) but unlike Rite Aid you can buy just one and get the sale price. What if the customer only wanted one or could only AFFORD to buy one. Oh, and regular price at a local Wal-Mart for the same item-$3.98. Again, this is what happens when you merge and consolidate an industry to the max. I can remember when I lived in Pa. the strong regionals there were Thrift Drug and Rea and Derrick. Those two were all about price on general merchandise. And then there was Fay's Drugs here where I live now. My Mother did most of her dry grocery shopping there the prices were so good. All of those banners are gone now-and this is what we're left with.
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