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Walgreens buying Duane Reade stores

"...The deal, which requires regulatory approval, would include all 257 Duane Reade stores, along with the corporate office and two distribution centers. Most of those stores are in Manhattan, where Walgreen currently has 13 stores...

...Walgreen said Duane Reade stores will keep their name after the deal closes, and it will decide over time on how to combine the two brands.

...Walgreen suggested it could get new ideas from Duane Reade.

...Walgreen also praised Duane Reade's FlexRewards customer loyalty program, its private label products, and its "store within a store" Look Boutique section, where cosmetics and skin care products are sold in an area that looks more like a department store than a drug store.

...The company will fund the buyout with existing cash and expects the deal to close by Aug. 31, the end of its current fiscal year...."

flexrewards is duane reade's new rewards card that gives you in-store discounts, awards points for your spending, and bonus points on specific weekly items.
    ♥ for every 500 flexrewards points earned you receive a $5 reward. if 500 points = $5, then 1 point = $.01

    ♥ earn 2 flexrewards points for every dollar you spend (2%, like cvs quarterly rewards)

    ♥ earn additional points by purchasing specially marked bonus points items every week

    ♥ your points never expire, and are completely electronic (no paper coupons). FlexRewards can be redeemed on any everyday or sale priced items, excluding prescriptions, alcohol, tobacco, sales tax, lottery tickets, gift cards, money orders, prepaid phones, phone cards, postage stamps and Metro Cards. You must make a minimum purchase of $5 (before sales tax) to use your FlexRewards points.

see also:
wags card coming to testing areas in spring

my sources:
Walgreen to buy NYC drugstore operator Duane Reade