LYCOS RETRIEVER 
Shopko Stores: Pharmacies
built 630 days ago
Having reduced its debt significantly, refined its internal business practices, and weathered a lingering recession, ShopKo planned to resume investment in growth and rejuvenation in 2004. A key focus of the expansion would be on what insiders called "retail health," namely pharmacies and optical shops. This business center constituted more than one-fourth of the ShopKo division's revenues and 16 percent of Pamida's sales by 2003. The corporation hoped to capitalize on this strength not only by growing the number of pharmacies in Pamida stores, but ... by testing new stand-alone drug stores featuring optical departments. As CEO Duncan told Laura Heller of DSN Retailing Today in 2003, "There are not too many industries growing at the rate that drug stores have in the last 5 to 10 years. And long term, it's projected to grow at 11% to 14% a year for many years to come."
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The ShopKo Stores, Inc. Pharmacy Student Loan Program provides qualified students, in pursuit of a Pharmacy degree, financial assistance. ShopKo will loan a student a designated amount of money to apply directly to the cost of the student's education in an accredited pharmacy program. In order to receive a ShopKo Pharmacy Student Loan, a student must meet the following criteria:
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"We are pleased to report earnings that were flat compared with last year, despite disappointing sales at the ShopKo division," said ShopKo President and CEO Sam Duncan. "Pamida posted its third consecutive quarter of positive comp sales as customers frequent our convenient pharmacies and embrace our 'Hometown Values' offering."
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That year, ShopKo ... sold the ProVantage pharmacy benefit manager operation to pharmaceutical giant Merck for an estimated $222 million. The corporation capped a decade of steadily rising revenues with record sales of $3.9 billion and earnings of $102.2 million that year.
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