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Walgreens shuffles retail deck with new initiative
WHAT IT MEANS AND WHY IT'S IMPORTANT The news that Walgreens is moving into the fresh food arena and has hired a veteran food merchant to spearhead the effort says the retailer is serious about the initiative and taking on grocery stores.
(THE NEWS: Tapping food veteran to head effort, Walgreens moves into fresh food arena. For the full story, click here)
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Rite Aid turns over a new leaf
WHAT IT MEANS AND WHY IT’S IMPORTANT All this really means is that Rite Aid is steady as she goes, because this was the succession plan put into place when John Standley returned to Rite Aid 16 months ago. It also means that if Standley delivers on the promise the board of directors sees in him, Rite Aid won’t be in need of its next CEO for well more than a decade.
(THE NEWS: Standley to assume president, CEO roles at Rite Aid. For the fully story, click here)