Industry News

Rite Aid finally opened in downtown Allentown on Thursday morning, and Bessie Hunter was there "shopping hard." After all, she and the fellow residents of nearby Center Square Apartments, a senior housing complex on Seventh Street, have been waiting for a pharmacy downtown for more than four years, which is when Rite Aid's longtime Hamilton Street store was razed to make way for PPL Center. "It's convenient, and it's in walking distance," said Hunter, who had been..."/>
Finally, Rite Aid opens in downtown Allentown [The Morning Call (Allentown, Pa.)]
Sears Holdings Corp. will close its store at Eden Prairie Center in November, the company said Thursday. The closing is part of a series of actions the Chicago-based retailer is taking to cut expenses and transform its asset base. The announcement came on the same day Sears reported a sales decline and net loss in the May-to-July quarter."/>
Sears, amid more red ink, says it will close Eden Prairie store [Star Tribune (Minneapolis)]
Almost ready [Desert Dispatch, Barstow, Calif.]
Dollar Tree executives say the discount chain that merged with Family Dollar a year ago sold nearly $5 billion worth of goods in the second quarter, earning a profit of $170.2 million. In the three months ending July 30, the Chesapeake-based retailer reported earning 72 cents per share compared with a loss of 46 cents per share a year ago when it racked up costs associated with its $9.2 billion merger. Dollar Tree's shopping square footage also grew during the quarter by 10.4..."/>
Dollar Tree, Family Dollar combined sales nearly top $5 billion last quarter [The Virginian-Pilot]
WALGREENS BOOTS ALLIANCE BUYS ANOTHER USD 1.19 BN OF AMERISOURCEBERGEN SHARES VIA WARRANTS EXERCISE US-based drug retailing chain Walgreens Boots Alliance, Inc. has exercised these warrants and purchased 22,696,912 shares of US-based pharmaceutical sourcing and distribution services company AmerisourceBergen common stock for an aggregate payment of approximately USD 1.19 bn using cash..."/>
M and A Navigator: Deal pipeline –26 August
Federal-Mogul foundry, which the Lawrence Group is redoing as stores, offices and a food hall. Steve Smith, the Lawrence Group's chief executive, announced the work Thursday and added that Bull Moose Industries will take "a significant ownership interest" in what has grown to as large as a $340 million redevelopment of the 14- acre site."/>
Work begins on $340 million Midtown redevelopment that will include stores, offices and food hall [St. Louis Post-Dispatch]
Esports company sets up shop in Orlando [Orlando Sentinel]
Starbucks has asked a Chicago court to dismiss a lawsuit that accuses it of misrepresenting the sizes of its cold drinks, a week after a similar case was tossed in California. The federal lawsuit in Chicago was first filed in May, but a new plaintiff was named last week. Thursday was the deadline to file a dismissal motion."/>
Starbucks asks court to dismiss iced drink lawsuit in Chicago [Chicago Tribune]
ITT Educational Services Inc., the parent company of the ITT Tech for-profit college chain, from enrolling new students using federal financial aid. The company also will face increased financial oversight."/>
BRIEF: New ITT Tech students no longer eligible for federal financial aid [South Bend Tribune, Ind.]

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