I kind of skipped around some of the messages looking for news of how the meeting went but I didn't find any reports. If someone has already posted, would one of you be kind enough to give me a link. Bashers like Goldmanmoron and yank-negfeedback needn't bother, as I would like a version describing actual events and not gradeschool fiction.
Audio is provided, with a full video presentation due in about a week.
It started right off the bat with the Walmart ($4 prescriptions) and CVS (buying Caremark) issues and how they are about as effective as some of the other past "This will kill Walgreens!! Everybody Panic!!" attempts by outside factors that did absolutely nothing to sales.
Other key points of interest include:
Maine and Hawaii. Walgreens will now be in all 48 continuous states, with Hawaii (surprise to me) getting some stores as well.
Happy Harry's, the Delaware chain that Walgreens bought out, was a perfect deal. They were the leading drug store in market share in a state that Walgreens wasn't in. With the help of he owner, the transition has been going exceptionally smooth.
$1 Billion dollars of stock to bought back by Walgreens in 4 years. I'm sure that CVS would do the same with their company, however they would have to take out a loan to do so (my take on it).
Dave Bernauer will be the Chairman of the Board, while giving the day-to-day duties to Jeffery Rein (President and CEO).
500 New stores this year (I'm not sure of the actual number, but right around there).
Walgreen leads in market share in 120 major markets. Walgreens has never lost the top market share in a city once it has it. Never.
I know there was more, however I can't recall everything...Listen to the audio at the Walgreen web site or wait until the video portion is available. Do not take everything I say verbatim, check the facts to be sure. I basically did my best to recall what I heard and saw yesterday.
I very much appreciate the informative post. I knew about the Hawaii move. Longs Drug is the current fat cat over there and from what I hear; they have horrible service because there�s very little quality competition (just like any service from the government.)
I�ve also heard that Walgreens is on pace to far exceed the 7000 stores by 2010, by several hundred stores. We just need to hire more pharmacists. Recruitment is vital and interns are our salvation.
�$1 Billion dollars of stock to bought back by Walgreens in 4 years. I'm sure that CVS would do the same with their company, however they would have to take out a loan to do so (my take on it).�
Although I believe CVS is a formidable competitor, this statement clearly distinguishes us from them.
�Walgreen leads in market share in 120 major markets. Walgreens has never lost the top market share in a city once it has it. Never.�