Tuesday, April 19, 2011

NYC Vintage Image Of The Day: Walgreens, 1948

Founded in 1901 in Chicago, Walgreens is now the largest drugstore chain in the U.S., operating 8,169 stores in all 50 states. Little did I know that Walgreens had olden-day presence in New York, per this Midtown 1948 photo. Several years ago, stores again starting popping up in Manhattan, including a four-level Times Square flagship store.

Meanwhile, in February 2010, Walgreens bought New York's biggest local drugstore chain, Duane Reade, for $1.075 billion. WG was wise enough to keep the name of NYC's beloved retailer, though by the beginning of 2011, prices at DR had escalated dramatically and former bargain sale prices became a thing of the past. It smells suspicious to me, as if Walgreens is forcing customers to its marquee, with a cunning plan to eventually convert Duane Reade to Walgreens. We shall see.