Think of it as PMS for Walgreens hemorrhaging metrics in the upcoming quarter. First there were "clinics", Then there was "home infusion." Now the new strategic $B shareholder-value adventure is DR!
All up, there/s about $3 B in S/H value spent to buy... "what... ya gotta be kiddin'... you spent how much for that?"
In-store clinics... home infusion... Duane Reade... the future of Walgreens? Nice! The future obviously is one of abject failure for shareholders. Eh?
There are NO growth metrics in the sickly NYC residential, retail market to rescue DR's $60 M profit loss, even once their debt is paid down.
It is, sadly, just another Happy Harry's tale of great expectations and promises from management of future benefits, only to be met by disgraceful metrics. And a sagging S/P, and rewards of extreme measure achieved only by Deerfield execs at the expense of everyone else.
Two years from now the epitaph of the Duane Reade "buy" will likely be phrased: " There's a way... American Investors Got Screw@d"...
I made another trip to my local WalMart today to get the rest of my prescription that was partial-filled last week. First I had to navigate the refuse strewn parking lot, walk over 300 yards to the front door and try and get by an extremely overweight greeter by the name of Yankbert! Yankbert was propped up in the front of the store, apparently asleep, leaning against a row of shopping carts and giving off the usual odor associated with being a huge pile of pig bleep. His smock was covered with an assortment of stains that I assume was food or drink and there was a fat stream of jelly running down the front of his shirt, the remains from a previous doughnut. A little old grandmother tried to take a shopping cart from the row of carts that Yankbert was leaning against while dozing and the removal caused him to topple over backwards with a loud crash and when Yankbert hit the floor was almost seismic, the whole store shook! I managed to get around the huge, smelly pile of Yankbert that lay on the floor and made my way to the pharmacy only to find out that the pharmacist had gone on his lunch break!! 38 minutes later when he finally came back he told me that they were once again out of my pills. I had had enough and transferred ALL of my prescriptions to the Walgreens a block away. I skipped the rain check frustration for all of their missing ad items and headed out and as I made my way through the front door I noticed that three or four managers were trying to get Yankbert back on his feet with little success. I won't miss the filthy bathrooms of WalMart and I won't miss their foul smelling and corpulent greeter named Yankbert either!