J.C. Penney Company, Inc.; Thrift Drug, Inc.; Analysis To Aid Public Comment

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In settlement of alleged violations of federal law prohibiting unfair or deceptive acts or practices and unfair methods of competition, this consent agreement, accepted subject to final Commission approval, would require, among other things, Penney, the parent company of Thrift Drug, to divest a total of 161 drug stores in North and South Carolina by March 1997. The agreement settles allegations that Penney's acquisition of Eckerd Corporation and 190 Rite Aid stores in these two states would violate federal antitrust laws by allowing the firm to raise prices for pharmacy services to health insurance companies and other third party payors.