(Reuters) – The acquisition of Duane Reade by Walgreen Co (WAG.N) will not only make Walgreen the largest New York City drugstore chain, but will give it expertise in boosting its sales across the country.
Duane Reade, which agreed in February to be bought by the largest U.S. drug store operator, has seen significant sales growth from its strategy for remodeling its 258 stores.
That type of rise is just the medicine Walgreen needs after posting three months of disappointing sales, despite its own work to overhaul thousands of its stores.
Walgreen also will be able to use Duane Reade as an outlet for pushing its expansion of healthcare services to companies.
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