2 neighborhood Duane Reade locations are closing this week
After four years in business, the Duane Reade by Walgreens outpost on Avenue D at Houston (officially 310 E. Second St. for some reason) is closing today (Nov. 6) here in the retail space of the Adele residential complex.
In addition, the Duane Reade on First Avenue just north of 14th Street is also shutting down after today. DR relocated here from around the corner on 14th Street in 2013 … setting up their drug store right next door to a CVS.
In August, Walgreens announced that it was shutting 200 stores nationwide to slash costs by a $1.5 billion.
Some background via CBS:
Walgreens also acquired almost 2,000 Rite Aid stores in a $17.2 billion deal last year.
In June Walgreens reported a 24 percent decline in quarterly net income and predicted that annual earnings would be roughly flat with the prior year. Walgreens has been hit by challenges including reimbursement cuts and lower price increases for branded drugs.
According to published reports, there are 91 Duane Reade locations in NYC, down from 253 less than 10 years ago, when people figured a Duane Reade would be the new tenant in any newly vacated retail space.
Around here, you can still find a Duane Reade on Avenue B and Second Street, 10th Street and Third Avenue, Third Avenue and 14th Street, and Union Square.
Thanks to @artisanmatters for the Avenue D tip! And to dwg for the First Avenue scoop!