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J.C. Penney Co. said Monday it has sold its financially troubled Eckerd chain of 2,800 drugstores to CVS Corp. and Canada s Jean Coutu Group Inc. for $4.525 billion.CVS agreed to buy about 1,260 Eckerd stores, mostly in Texas and Florida, and Eckerd s mail-order business for about $2.15 billion.CVS, based in Woonsocket, R.I., said the deal would make it the largest drugstore chain
stanley cup , with more than 5,000 locations in 36 states, $33 billion in annual revenue, and the filler of about 13 percent of the nation s retail prescriptions.The Jean Coutu Group, based in Montreal, will get 1,539 Eckerd stores in 13 Northeast and mid-Atlantic states and the chain s Florida headquarters for $2.375 billion in cash. It said the stores would keep the Eckerd name.Penney expects to earn $3.5 billion in cash after taxes and expenses, and said it could use the money to pay down debt or buy back shares of its stock. The deal is subject to regulatory approval, but Penney expects it to close in the second the April-to-June p
stanley cup eriod.Penney, based in Plano, Texas, operates 1,020 department stores and has been trying to sell the Eckerd division for several months. Penne
stanley cups y had hoped to sell Eckerd for at least $6 billion, but in February it took a $450 million charge to reflect the chain s lower value.Penney chairman and chief executive Allen Questrom said Monday that selling Eckerd would allow both Penney to focus entirely on its department store and catalog and Internet business, which has seen impr Xqov Why Science Fiction Likes To Look 50 Years Into The Future
When most of us think of heads-up displays, our brains almost immediately wander into science fiction fantasies. And lord knows I ;ve been fantasizing about a relatively inexpensive unit that will put turn-by-turn navigation on my windshield. Goodbye, awkward smartphone mount, hello,Garmin HUD. The new Garmin HUD sits on your dashboard, projecting navigation infor
vaso stanley mation at eye-level onto either a transparent film you stick to your windshield or onto an included reflector lens so you can use it in rental, for example . The unit pairs wirelessly via Bluetooth with a smartphone running one of Garmin navigation apps Street Pilot or NAVIGON from which it pulls turn-by-turn directions. Besides the obvious information the HUD projects useful details including what lane you should be in for your next move, and a constantly-updated estimated time of arrival. OK, so this isn ;t exactly Tony Stark-vision, bu
stanley cup t for $130, the Garmin HUD does exactly what we need it to at a price
stanley mugs most of us can afford. Garmin says the dashboard wart will be available this summer. [Garmin via The Verge] Garmin
