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Rite Aid, drugstore.com Restructure Partnership
September 09, 2008
Bellevue, Wash.-based drugstore.com inc. and Camp Hill, Pa.-based Rite Aid Corp. announced a restructured strategic relationship that includes the launch of a new Rite Aid online store for over-the counter (OTC) products and expands on the two companies' long-term relationship. Under the terms of the agreement, a new Rite Aid online OTC store offering a wide selection of products, including Rite Aid brand items, will be powered by drugstore.com and marketed by Rite Aid to its large customer base. Rite Aid's new online store is expected to launch later this year. As part of the new agreement, the LPU rights (prescriptions ordered online for pick up at a Rite Aid store) will be transferred to Rite Aid. In return, drugstore.com will receive a total of approximately $10 million in 10 monthly installments from Rite Aid. Going forward, drugstore.com will receive marketing services revenue for marketing Rite Aid's LPU offering on the drugstore.com site.
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DDI visited the new JCPenney department store at Manhattan Mall in New York and spoke with store manager Joe Cardamone.Click here for a video of that conversation paired with a walk-through tour of the new store. For more on the JCPenney store, look out for DDI's November/December issue mailing out at the end of November.
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