| IPO Company Profile |
| Current Quote | News | SEC Filings | Peer IPO Companies |
| Duane Reade, Inc. |
| 440 Ninth Avenue, New York, NY 10001 * (212) 273-5700 |
| The company is the largest drugstore chain in New York City, with 58 of its 67 stores located in Manhattan's high-traffic business and residential districts. The Company operates almost twice as many stores in Manhattan as its next largest competitor. |
| Manager | Tier | Phone |
| Donaldson, Lufkin & Jenrette Securities Corp. | Lead Manager | (212) 371-0641 |
| Goldman, Sachs & Co. | Co-manager | (212) 902-5959 |
| Salomon Brothers Inc. | Co-manager | (212) 783-2947 |
| NYSE: | DRD | Retail: | SIC 5912 | |
| Type of Shares: | Common Shares | Filing Date: | 11/28/97 | |
| U.S. Shares: | 7,278,000 | Offer Date: | 2/9/98 | |
| Non-U.S. Shares: | 0 | Filing Range: | $14.00 - $16.00 | |
| Primary Shares: | 7,278,000 | Offer Price: | $16.50 | |
| Secondary Shares: | 0 | Gross Spread: | $1.15 | |
| Offering Amount: | $109,170,000 | Selling: | $0.69 | |
| Expenses: | $0 | Reallowance: | $0.10 | |
| Post-IPO Shares: | - | |||
| Employees: | 2000 |
| Issuer's Law Firm: | Latham & Watkins |
| Bank's Law Firm: | Weil, Gotshal & Manges |
| Auditor: | Price Waterhouse |
Dollar amounts in U.S. millions except for per share data | |||||
| 8 Month Ending Financials | |||||
| Full Year Audited Income | Latest Unaudited Income | Prior Unaudited Income | Balance Sheet | ||
| 12/28/96 | 9/27/97 | 9/28/96 | 9/27/97 | ||
| Revenue: | $381.47 | $313.79 | $281.09 | Assets: | $239.52 |
| Net Income: | -$17.85 | -$14.16 | -$12.48 | Curr Assets: | |
| EPS: | Liabilities: | $313.08 | |||
| Prior EPS: | Curr Liab: | ||||
| Cash Flow/Oper: | $12.60 | Equity: | -$73.56 | ||
| Cash Flow/Fin: | -$10.47 | Cash: | |||
| Cash Flow/Inv: | -$3.77 | Working Cap: | $29.85 | ||
| Competition |
| The markets in which the Company operates are highly competitive. In the New York City area, the Company competes against national, regional and local drugstore chains, discount drugstores, supermarkets, combination food and drugstores, discount general merchandise stores, mass merchandisers, independent drugstores and local merchants. Major chain competitors in the New York City market include Rite-Aid, Genovese and CVS. Many of the Company's competitors are larger and have greater financial resources than the Company. In addition to competition from the foregoing, the Company's pharmacy departments also compete with hospitals, health maintenance organizations ("HMOs") and mail order prescription drug providers. The Company's drugstores compete, among other things, on the basis of convenience of location and store layout, product mix, selection, customer service and price. There can be no assurance that such competition will not adversely affect the Company's results of operations or financial condition. |
| Use of Proceeds |
| The proceeds from the proposed offering will be used to refinance the company. |