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Duane Reade

(Private)  
Retail
5,000 - 10,000 employees  |  
Overview
Founded in 1960, Duane Reade is the largest drug store chain in the metropolitan New York City area, offering a wide variety of prescription and over-the-counter drugs, health and beauty care items, cosmetics, greeting cards, photo supplies and photofinishing. Duane Reade’s aggressive and targeted store opening program has expanded the chain from 67 stores at the end of 1997 to 255 stores at the end of 2004. The Company recorded fiscal 2004 sales of $1.4 billion.

Duane Reade began as one store on Broadway between Duane and Reade Streets in Manhattan, and has expanded to occupy the leading market share position in the area. The New York market presents unique opportunities for growth as it is less penetrated by large drug store chains and mass merchants and managed care is growing more rapidly than in other more mature markets. These factors plus the natural barriers to entry of high rent costs, the lack of available standardized store configurations and metro market distribution logistics favor a retailer who is equipped to address these constraints. Duane Reade is uniquely positioned to do so and the Company’s low-cost, high-efficiency operating model and targeted real estate selection strategy have enabled it to thrive in what many national retail chains consider to be a challenging regional market.

Duane Reade utilizes superior operating and merchandising initiatives to drive industry-leading store productivity levels. The Company relies heavily on technology to increase efficiencies, as evidenced by its computer-assisted ordering and replenishment systems as well as its distribution systems. Duane Reade also maximizes non-pharmacy sales growth by offering a wide variety of products in its high margin front-end categories. Finally, the Company remains a cutting-edge innovator in the industry, being the first drug store chain to introduce a central fill pharmacy function as well as a customer loyalty card program.

On July 30, 2004, Duane Reade was acquired by Oak Hill Capital Partners LP, a private equity firm with investments in over 40 other companies. The acquisition was achieved through a purchase of all of the outstanding shares of Duane Reade’s common stock, combined with a reissuance of the Company’s public debt . While Duane Reade is now considered to be “privately-held,” the daily store operations remain largely unchanged, allowing management the opportunity to focus on initiatives designed to improve overall performance and enhance the Company’s already dominant metro area market share
Career Opportunities
Duane Reade Holdings,Inc Strengthens Senior Management Team

  • Company Edtablishes Focused Leadership for Pharmacy and Store Operations
  • Jerry Ray Appointed to New Position of SVP, Pharmacy Operations
  • Charles Newsom Appointed to New Postions of SVP and Store Operations
  • David D'Arezzo Appointed to New Position of SVP and Cheif Marketing Officer
  • Robert Storch Rejoins Company in New Positions of VP.Pharmacy Marketing and Benefit Managent Services
  • Enhanced Management Team Aligned to Execute of Six Point Strategic Plan Announced Today


    New York, New York, March 21,2006-Duane Reade Holdings,Inc today announced that it has strengthend its senior management team to provide additional expertise, ovetsight, and resources as the Company implements its Strategic initatives. In addition, the Company announced separetley today Duane Reade Full Potential, a six point straegic plan to transform the bsiness and improve performance, and reported financial results for the forth quarter and full yaer ended December 31, 2005
  • Products
    Duane Reade also maximizes non-pharmacy sales growth by offering a wide variety of products in its high margin front-end categories. Finally, the Company remains a cutting-edge innovator in the industry, being the first drug store chain to introduce a central fill pharmacy function as well as a customer loyalty card program.
    Contact
    center>Duane Reade Inc.
    440 Ninth Ave
    New York, NY 10001
    Tel: (212) 273-5700


    Investor Relations
    Cara O'Brien / Lauren Levine
    Financial Dynamics
    New York, NY 10168-5199
    Tel: (212)850-5600