retail news in context, analysis with attitude

• Supervalu said yesterday that “it would sell eight of its distribution centers to an undisclosed buyer for about $483 million following pressure from activist shareholders … The company said after it closes the sale, it will enter into lease agreements for each of the facilities for an initial term of 20 years with renewal options,” Reuters reports.

According to the story, “The company also said on Tuesday that it was pursuing the sale of its grocery store chain Shop ‘n Save in St. Louis and the chain’s retail operations along the East Coast. In March, Supervalu said it would sell 21 of its 38 Farm Fresh Food and Pharmacy stores for about $43 million in a bid to steer its resources away from the retail business and remake itself as a distributor.”

Supervalu said that its quarterly net income from continuing operations rose to $25 million, from $24 million in the year-ago period. Revenue rose 42 percent to $3.59 billion.


CNBC reports that “relatives of the musician Prince are suing both the pharmacy chain Walgreens and an Illinois hospital. A wrongful-death lawsuit filed in Cook County, Illinois, reportedly alleges that Trinity Medical Center failed to appropriately treat and investigate an initial overdose on April 15, 2016 that the singer survived … The lawsuit claims that following the first incident, Prince was not given proper counseling by Trinity Medical Center and that a doctor and pharmacist did not properly investigate the overdose.

“Six heirs to Prince's estate also used the lawsuit to accuse two pharmacists at Walgreens of giving the wrong prescription medicine to the singer.”

Prince's death in April 2016 has been attributed to “use of a counterfeit painkiller, laced with the powerful opiate fentanyl.” The story notes that ”the source of the pills has never been discovered and the prosecutor said he could not bring any criminal charges in connection with the rock star's death.”
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