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Walgreen to take on New York City; Deep-pocketed chain pursues big sites; enough room for everyone?(News)
Crain's New York Business, July, 2004 by Kramer, Louise
Byline: louise kramer The competition is about to heat up in New York's already crowded drugstore business. Walgreen Co., the nation's largest and best-performing drugstore chain, is targeting New York, one of the few large U.S. markets where it doesn't already dominate or have a major presence.
The $32.5 billion company- with 4,414 Walgreens stores in 44 states and Puerto Rico, but merely three in Manhattan-has inked a deal for a fourth location, on the Upper East Side, and is actively pursuing deals for more sites. "We are putting a new emphasis on Manhattan,'' a Walgreen spokesman says. "It is a huge market that we don't have a large presence in right now.'' He declined to specify the number of stores that the Deerfield, Ill.-based retailer envisions...
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