Fred’s has completed the previously announced sale of certain assets of EntrustRx, its specialty pharmacy unit, to a subsidiary of CVS Health Corporation.
Fiscal year fourth quarter net sales at Fred’s were up slightly as comparable store sales were down.
Walgreens and Rite Aid have terminated their merger agreement. The decision to terminate the merger agreement follows feedback on the merger’s prospects received from the Federal Trade Commission, Rite Aid said. Rite Aid added that the potential FTC objection led the company to believe that the parties would not have obtained the commission’s clearance to complete the merger.