Walgreens Buys drugstore.com, Starbucks Eyes New Stores, Wal-Mart Eastern Unit
Walgreens will acquire
online pharmacy retailer drugstore.com in a transaction with a total enterprise value of approximately $409 million.
“Over the past two years, we’ve established the infrastructure from which to grow our multi-channel products and services, and by combining drugstore.com’s capabilities we are well on our way to achieving our goal of becoming the most convenient multi-channel retailer for health and daily living needs,” Walgreens President of E-commerce Sona Chawla said.
Store Openings & Closings
- Italian retail and catering operator Autogrill SpA has extended its existing management contract with Starbucks Corp. for another 10 years, and the two companies are planning to open 120 stores in North America over that period.
- Only a handful of Gap’s UK stores are expected to close as part of the US retailer’s plans to rationalize its portfolio by axing 200 shops in the US as it focuses on its outlet operations.
Business & Finance
- Walmart is establishing a new eastern business unit headquartered in Atlanta, GA, consisting of nearly 1,600 stores in 20 states spanning from Florida to Maine with approximately 560,000 associates and headed by Rosalind Brewer, president of Walmart East and executive vice president of Walmart U.S.
Stats & Research
- Real gross domestic product, the output of goods and services produced by labor and property located in the US, increased at an annual rate of 3.1% in Q4 2010(that is, from the third quarter to the fourth quarter), according to the "third" estimate released by the Bureau of Economic Analysis.
- Nearly two-thirds (64%) of homeowners say they will invest in renovation projects this year, according to the latest American Express Spending & Saving Tracker.
- The “Animal Lover” category on Compete.com, which includes the leading pet retailers and pet information sites, shows a clear pattern of peaks in daily reach on Sundays.
- At least half of Japan’s auto production will still be shuttered by early May, research firm IHS Automotive predicts.
- In five years, airlines expect that 15% of their revenue will come from fees for optional services — double the amount it is now — according to Forrester Research Inc.
- Data from Mintel indicates that new dairy products entering the market stand a good chance of success if they follow one or more of the following trends: focusing on natural, blurring categories, small, inexpensive indulgences for adults, “retro” packaging and products, and stretching brands up and down the age spectrum.
- Canadian retail conglomerate Hudson’s Bay Company has selected N.E.W. Customer Service Companies to provide product protection and support services for customers at more than 400 of its banner retail outlets.
Marketing & Advertising
- The winners of CSN Stores' Big Bad Bedroom Breakup, a national search for the worst bedroom in the U.S., just received their brand new, designer-inspired bedroom.