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Drugstore.com Becomes Exclusive Internet Provider Of GNC Products

This article was originally published in The Tan Sheet

Executive Summary

Drugstore.com will become the exclusive online source for General Nutrition Centers branded products following a strategic alliance between the Internet retailer, GNC and the drug chain Rite Aid.

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Rite Aid

Same-store, front-end sales grew 8.5% in fiscal second quarter ended Aug. 26, spurred by lower prices on key items, weekly advertising circulars and expanded product categories, drug chain announces Oct. 10. Front-end sales, which constituted 41% of total sales for the quarter, are expected to further improve due to enhanced supplier relationships, Rite Aid maintains. The chain posted net sales of $3.44 bil. for the quarter but incurred a net loss of $456.5 mil. Of that total, $77.2 mil. was related to the decline in drugstore.com's common stock, with additional losses of $12.5 mil. and $24.1 mil. representing Rite Aid's share of the e-commerce site's losses in the second quarter and first half, respectively. Rite Aid acquired a 25.3% share in drugstore.com in June 1999 (1"The Tan Sheet" June 28, 1999, p. 7)

Rite Aid

Same-store, front-end sales grew 8.5% in fiscal second quarter ended Aug. 26, spurred by lower prices on key items, weekly advertising circulars and expanded product categories, drug chain announces Oct. 10. Front-end sales, which constituted 41% of total sales for the quarter, are expected to further improve due to enhanced supplier relationships, Rite Aid maintains. The chain posted net sales of $3.44 bil. for the quarter but incurred a net loss of $456.5 mil. Of that total, $77.2 mil. was related to the decline in drugstore.com's common stock, with additional losses of $12.5 mil. and $24.1 mil. representing Rite Aid's share of the e-commerce site's losses in the second quarter and first half, respectively. Rite Aid acquired a 25.3% share in drugstore.com in June 1999 (1"The Tan Sheet" June 28, 1999, p. 7)

Rite Aid

Same-store, front-end sales grew 8.5% in fiscal second quarter ended Aug. 26, spurred by lower prices on key items, weekly advertising circulars and expanded product categories, drug chain announces Oct. 10. Front-end sales, which constituted 41% of total sales for the quarter, are expected to further improve due to enhanced supplier relationships, Rite Aid maintains. The chain posted net sales of $3.44 bil. for the quarter but incurred a net loss of $456.5 mil. Of that total, $77.2 mil. was related to the decline in drugstore.com's common stock, with additional losses of $12.5 mil. and $24.1 mil. representing Rite Aid's share of the e-commerce site's losses in the second quarter and first half, respectively. Rite Aid acquired a 25.3% share in drugstore.com in June 1999 (1"The Tan Sheet" June 28, 1999, p. 7)

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