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Thursday, February 18, 2021

double-sold
How much of a jolt is yesterday’s announced $1.08-billion sale of local pharmacy chain Duane Reade to Walgreen to New Yorkers?

Well, not that much, really. True, Duane Reades are one of those far-too-ubiquitous cornerstore fixtures in Manhattan, right there with bank branches and Starbucks. And I suppose there’s some provincial pride in having a locally-sprouted business always within footsteps — even when those footsteps take you between competing corners on Broadway, as the photo above illustrates.

But at the end of the day, it’s just another retailer, and so it doesn’t engender all that much sentimentality among the locals. And it’s not like New Yorkers will “lose” those Duane Reade signs, as Walgreen intends to keep the brand alive after acquisition (although I’m betting that within five years, that’s go out the window, and those 257 stores will be transformed into generic ol’ Walgreens). The main plus side is that people living on Duane and Reade Streets will, at some point, not get their packages erroneously delivered to some random drugstore.

by Costa Tsiokos, Thu 02/18/2010 08:48 AM
Category: Business, New Yorkin'
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