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Eckerd Corporation was an American pharmacy retail chain that was headquartered in Largo, Florida, [1] and toward the end of its life, in Warwick, Rhode Island. [2] At its peak, Eckerd was the second-largest pharmacy chain in the United States, with approximately 2,802 stores in 23 states as far west as Arizona.
In June 2007, a 109-year-old retail legacy came to an end. Rite-Aid Corporation completed its acquisition of Eckerd Pharmacy by purchasing Jean Coutu USA for $2.3 billion in cash plus $1 billion ...
Also shown was a location of Thrift Drug's nominal successor (through Eckerd) and fellow Pennsylvania pharmacy, Rite Aid. Due to Rite Aid's connection to Thrift Drug through Eckerd, Rite Aid, as well as CVS which also purchased many Eckerd stores, accept JCPenney credit cards despite having otherwise had no corporate affiliation with JCPenney.
The transaction was officially completed in June 2008. All Brooks and Eckerd locations were either rebranded as Rite Aid. To comply with FTC antitrust regulations, some Brooks/Eckerd locations within a mile of a Rite Aid store were sold to another pharmacy company, such as CVS/pharmacy or Walgreens, or were closed.
On August 23, 2006, The Wall Street Journal announced that Rite Aid would acquire the U.S. subsidiary of Quebec-based Jean Coutu Group, including 1,858 Eckerd Pharmacy and Brooks Pharmacy stores, for US$3.4 billion in cash and issuing stock, which would also give Jean Coutu a 32% equity stake in Rite Aid.
Indeed, the big drugstore chains are suffering—at least when it comes to the pharmacy services at the core of their companies. CVS and Walgreens are making less money on an annual basis from ...
The Eckerd chain, oldest of the major drugstore companies in the U.S., was founded by Jack's father, J. Milton Eckerd, in Erie, Pennsylvania, in 1898. After serving as a pilot in World War II , Jack Eckerd started a phenomenal expansion of the chain by buying three stores in Florida in 1952.
Employee at Harborcreek Walgreens says store will close in April. Three Rite Aid locations in central Erie have closed since October: 2715 Parade St., 1709 Liberty St. and 353 E. Sixth St.