Does anyone know if the pharmacy business is for sale? It would make sense for them to spin it off or try to sell it to raise money. I know target sold their pharmacy business to CVS and now CVS operates all target pharmacies. I know there is a lot of money to be made in the division and for a lot of Kmart stores, is the only department that actually turns a profit. Any thoughts?
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Kmart and Rite Aid combined could double traffic--2 cars in the lot instead of one each!
No company is going to buy the pharmacies to put their name on it (i.e CVS in target). Customer traffic is consistently going down year over year (in all but the very few). Most Kmart stores that have Pharmacies are too damn big now for the current retail climate. If there is money to be made it is in selling the actual scripts and inventory to other pharmacy companies and closing the pharmacy (which they are already doing piece by piece) to make a quick cash for Sears. On the other hand they also have to give severance to pharmacy staff which can be expensive when pharmacists make the same if not more than the store manager. I think it depends on their strategy of how long they "need" to survive. If they don't get enough money from their restructering plan and need more cash they may just start massively closing the pharmacies. But if they have enough, then they may keep the pharmacies they cannot make enough money off of by closing open, so when they go into bankruptcy they could get out of severance packages for all those pharmacists. Some have been with the company a long time.
The pharmacy has saved our store in sales more times then I can count. I'm surprised eddy hasn't found a way to miss it up
haha. You know someone has thought about it in a board room at Hoffman lol
I love it. KMart - Rite Aid combo.
Not to mention who would even want their name on a sign in a KMart? MAYBE Rite-Aid and they are about to be purchased by Walgreens.
No value. Most of our customers in pharmacy are transfering their accounts because they are afraid we will close soon. There are consequences for the company as they continue to close stores: prescription transfers, no one want the credit card, SyW, or PA warrenties, gift cards, because they are afraid of closure of the store. I hear it every day
only thing that "might" have "some value" would be the customer list
but i really doubt it
No one wants to buy a pharmacy in a dying group- plus Kmart couldn't promise a cvs that they would keep the stores open