The iconic Duane Reade will be no more in New York City. It is going by the wayside like Woolworth, Caldor, and many others before it.
Walgreens announced today that it is buying Duane Reade. The deal is valued at over $1 billion dollars, including debt. According to Market Watch, the deal should be completed by August 31.
Walgreens is the largest drugstore within the United States while Duane Reade is the largest drugstore in New York. For the time being, it appears that the purchase will not change the names of either drugstore. Walgreens also claims that it will not immediately fire any upper management but has not taken a stance on lower level employees.
Duane Reade, with approximately 70 stores in New York City metro area, will extend Walgreens reach but the question is will it be good for consumers like you and I?
Weigh In! What do you think?
{ 6 comments… add one }
I always choose Duane Reade over Walgreens simply because I shop at Duane Reade way more often.
Funny too, because Walgreens bought out my neighborhood pharmacy that was there for eons.. (SilverRod) on Church Avenue and Mcdonald in Brooklyn.
(Side thought) …Although, Walgreens does have the cash bucks you can use on your following purchases… I can see myself making the switch if this deal went through…
-Rachel
I will be disappointed to say goodbye to Duane Reade as I’m a frequent shopper.
However I recently learned that CVS offers many of the same products for a better price. 😉
Wow! That is some big news! However, I do love Walgreens!
You took me back when you mentioned Woolworth! We used to go back to school shopping there! I for one love Walgreens. Except that I go for one or two actual drugstore items and after perusing through the store I end up spending at least $40. And there are some great holiday decorations and gifts that you can buy there. Duane Reade is ok. Maybe it’s the now Western NY’er talking but I love me some Walgreens. To me Duane Reade and Walgreens is like comparing Wegman’ s and Shop Rite.
so sad for them as I am for any business that’s not doing well but Walgreens is a good place to shop. Still, Duane Reade impresses me more!
I used to shop at Woolworth and Caldor! My favorite was Duane Reade but when I started comparing some of the prices between both Walgreens had better prices. Although I try very hard to go to Target!