UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d)
of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported) January 4, 1994
ECKERD CORPORATION
(Exact name of registrant as specified in its charter)
DELAWARE 1-4844 13-3302437
(State or Other (Commission (I.R.S. Employer
Jurisdiction of File No.) Identification No.)
Incorporation)
8333 Bryan Dairy Road, Largo, Florida 34647
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code (813) 399-6000
Not Applicable
(Former name or former address, if changed since last report.)
Item 5. Other Events
On January 4, 1994, the Company announced an agreement in principle to
sell its Vision Group division, which operates 47 Visionworks optical
superstores and 29 Eckerd Optical Centers in six states, to an
investment group which includes current Vision Group management. The
sale is subject to the negotiation of a definitive agreement and
certain other conditions and is expected to be completed within the
next 60 days.
Item 7. Financial Statements, Pro Forma Financial Information and Exhibits
Exhibits:
20.01 Press release dated January 4, 1994.
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Signatures
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Pursuant to the requirements of the Securities Exchange Act of 1934, the
Registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
Eckerd Corporation
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(Registrant)
By: /s/ Samuel G. Wright
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Samuel G. Wright
Senior Vice President-Finance
(Principal Accounting Officer)
Date: January 4, 1994
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EXHIBIT INDEX
Eckerd Corporation
Current Report on Form 8-K
Dated January 4, 1994
Exhibit No. Description of Exhibit Page
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20.01 Press Release 5
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Exhibit 20.01
January 4, 1994 Contact: Gerry Hoeppner
NR #14 (813) 399-6380
ECKERD CORPORATION ANNOUNCES AGREEMENT
TO SELL VISION GROUP DIVISION
CLEARWATER, FL - January 4, 1994 - Eckerd Corporation has announced an
agreement in principle to sell its Vision Group division, which operates 47
Visionworks optical superstores and 29 Eckerd Optical Centers in six states, to
an investment group which includes current Vision Group management. The sale
is subject to the negotiation of a definitive agreement and certain other
conditions and is expected to be completed within the next 60 days.
The Company does not expect to recognize any significant gain or loss on the
sale of the assets. Eckerd chairman and chief executive officer, Stewart
Turley, said, "The investment group was selected based on competing offers made
by qualified buyers." Mr. Turley also notes, "This transaction offers us the
opportunity to redeploy assets into our core businesses while furthering the
ability of our Visionworks management and associates to grow the optical
company."
In addition to the 47-store Visionworks chain and 29 Eckerd Optical Centers,
Eckerd Corporation operates 1,710 drug stores in 13 states, 409 Eckerd Express
Photo labs, and Insta-Care Pharmacy Services, which provides pharmaceutical
care to institutions.
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