Fred’s Pharmacy
In May 2018, Fred’s Pharmacy reported that its gross sales for the previous fiscal year dropped 4.3 percent and its bottom-line loss reached $139.3 million. Fred’s tried to establish 1,000 stores around the U.S., increasing its number from 600 stores, but the plans fell through. RetailDive reported that extra spaces for stores were available for the taking. The said spaces were available and Walgreens tried to negotiate a deal with Rite Aid but it didn’t work out.
Fred’s Pharmacy
In February 2018, Fred’s CFO left the company, placing a former media executive as the replacement. Fred’s put “Plan B” into place, going up for sale. It sold CVS, its specialty pharmacy, for $40 million. A big maternity company also experienced some executive shakeups when things didn’t go well for them.
Destination Maternity
RetailDrive said Destination Maternity has a big presence in the maternity apparel industry, having over 1,000 stores. The CEO of Destination Maternity left the company one quarter last year when the gross sales dropped more than 7 percent. Having been on its second interim CEO, the company got Berkeley Research Group to help it recover.
Destination Maternity
The company guessed that their broken relationship with Kohl’s was the cause of its problems. In the fiscal year in 2017, its total year over year sales fell 6.4 percent which sums up to $406.2 million. However, there is hope for this company yet – it had a 40 percent rise in its e-commerce comps. Ascena, another company on this list, may have better chances.
