When Walgreens opened its 7,000th storefront right here in Sheepshead Bay, many residents were elated to see the national chain making a push into our area. Similar anticipation surrounds the opening of their Bragg Street and Avenue U location, slated for March.
But few would’ve guessed that just months later a business deal might lead to the closing of several area locations of pharmacy chains.
It was announced this morning that Walgreens purchased the New York City-based Duane Reade franchise for $1.1 billion.
For Sheepshead Bay, the deal means a handful of redundant locations may be closed. The turn of events could leave dozens of Sheepshead Bay residents unemployed, and will leave several large commercial lots empty during an economic recession.
The map below shows the current locations of Walgreens and Duane Reade storefronts in the Sheepshead Bay/Brighton Beach/Marine Park/Midwood area. Walgreens has nine locations (including the unopened Bragg Street store) marked in blue. Duane Reade has ten locations marked in green.
View Sheepshead Bay Walgreens & Duane Reades in a larger map
While the Brighton Beach and southern portion of Sheepshead Bay appear to be clear of duplicity, areas to the north have quite a few overlapping spots – including the newly-built Bragg Street Walgreens.
On Kings Highway, Duane Reade faces off with Walgreens on opposite corners of the same intersection, and there are two more Duane Reades just blocks away. On Avenue J, they’re also placed across the street from each other.
On Avenue U, Walgreens competes with Duane Reade near the Q train station, as well as between Nostrand Avenue and Gerritsen Avenue, and again near Kings Plaza.
Walgreens has not said whether they’ll be closing redundant locations, but it’s safe to assume that at least some will close.
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maybe it will happen but they are not going to close a business they just purchased. they are also not going to use a location across the street to open another walgreens. they made the deal because DR is a profitable company and there is not much reason for them to close locations right now. DR has some of the highest sales per square foot of any retail business. if stores continue to do well they wont close them even though they are in close proximity to each other. other stores that are not so close will change names and continue to do business.
oh and as as far as mom and pop stores its not going to bother anyone in these areas. look at brighton beach ave and sheepshead bays retail areas there are mom and pop pharmacies everywhere and they are busy. do they make a million bucks no but they do well.
Duane Reade had a virtual monopoly in Manhattan. Lots of stores, many one or two blocks from each other. Walgreen's does seem to be trying a similar strategy in other places.
If the Duane Reade branches show a profit they will keep them. This strategy may work for them out here. Duane Reade did try a similar approach in the boroughs ten or so years ago, but they were already losing their credibility with many consumers by then.
Whisky Tango Foxtrot! You didn't make a nifty map like that for my Chase post!
I heard on 1010WINS that all the locations will retain the Duane Read name, if Chase didn't close any branches I doubt they will.
No such thing as Anti-Trust laws that are respected today. It's a laissez-faire economy we live in now where the rich live off the backs and lives of the rank and file, where huge bonuses go to those who ax the most employees thus raising the price of company stock and where the rest of us are left out in the cold. I guess action will finally be taken when Tent Cities start springing up in Central Park, Marine Park and in the driveways and parking lots of these big chains.
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When Chase took over Wamu, they eventually removed the name and logos from those usurped branches. I can't see the fiction going over where the Duane Reade name remains on storefronts so close to its former competitor now owner.
http://www.nytimes.com/2010/02/18/nyregion/18re...
The NYTimes has been stealing my ideas for years
Apparently Duane-Reade is still innovating. They just started selling sushi.
http://gothamist.com/2010/02/18/duane_reade_sus...
[...] When Walgreens bought up the New York City-based Duane Reade chain in February, the growing corporate giant said there were no immediate plans to close any of the branches. But we knew better, and publicly worried that the number of stores that competed with their new sister branches would cause the company to shutter lo…. [...]
[...] like our prediction about Walgreens and Duane Reade closings around Southern Brooklyn is coming true even faster than we thought it would. A Kings Highway Duane Reade store closed just [...]