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DEERFIELD, Ill. — Walgreens Boots Alliance Inc. (WBA) announced today that it has secured regulatory clearance for an amended and restated asset purchase agreement to purchase 1,932 stores, three distribution centers and related inventory from Rite Aid Corp. for $4.375 billion in cash and other consideration. The amended and restated purchase agreement between the parties
CHESAPEAKE, Va. — Gary Philbin has been named president and chief executive officer of Dollar Tree Inc. The move is part of a planned leadership succession in which Bob Sasser, the company’s CEO since 2004, has assumed the role of executive chairman of the board. Sasser, 65, joined Dollar Tree in 1999 as chief operating
CINCINNATI — Kroger Co.’s culinary development team announced on Thursday a new restaurant concept, Kitchen 1883, offering diners a fresh take on comfort food. The restaurant is set to open late next month in Union, Ky., about 16 miles southeast of Cincinnati. The name is a nod to the year Kroger was founded. Kitchen 1883’s
BENTONVILLE, Ark. — Walmart is streamlining its U.S. store operations in order to respond more quickly to change, according to published reports. The consolidation will reportedly organize retailer’s domestic store operations into four divisions, down from six. As part of the restructuring, Wal-Mart will also have 36 regional managers instead of 44, a source told
WASHINGTON —The National Retail Federation on Wednesday cut its retail sales forecast for 2017 to reflect changes in government data. The NRF now projects that sales for the year will grow between 3.2% and 3.8%, rather than at the 3.7% to 4.2% rate that was forecast earlier this year. “Meaningful revisions to retail sales numbers
HOUSTON — In response to the devastation in the Texas Gulf Coast region, Walmart and the Walmart Foundation are donating up to $20 million to support Hurricane Harvey relief efforts. Walmart said Wednesday evening that its support includes $10 million for American Red Cross shelters and $2 million for the Hurricane Harvey Relief Fund at
HOUSTON — The storm battering much of southeast Texas since Friday is expected to cost the consumer and retail sectors at least $1 billion in lost sales, according to an initial estimate by Planalytics Inc. “This represents revenue that is lost and will not be made up later,” the Berwyn, Pa.-based provider of “business weather
SEATTLE — Amazon announced on Thursday that its $13.7 billion acquisition of Whole Foods Market Inc. will close on August 28. Amazon also revealed details about how it intends to lower prices and integrate its Prime membership program into the Whole Foods checkout process. The company’s bid for Whole Foods was approved August 23 by
BENTONVILLE, Ark. — Walmart is partnering with Google to give shoppers additional ways to buy its products online. Beginning in late September, hundreds of thousands of Walmart products will be available for purchase via the Google Express e-commerce platform, the companies announced on Wednesday. Besides increasing Walmart’s visibility online, particularly with people who use Google’s
ARMONK, N.Y. — Walmart and Kroger Co., two of the nation’s biggest retailers, are participating in a major blockchain collaboration with IBM Corp. and food companies to bolster consumer confidence in the global food system. IBM said Tuesday that is working with the consortium — also including Dole, Driscoll’s, Golden State Foods, McCormick and Co.,
BENTONVILLE, Ark. — Walmart on Thursday reported its 12th consecutive quarter of same-store sales gains at its U.S. stores. Comp sales for the second quarter rose 1.8% compared to a 1.6% increase in the same period of 2016. Comp sales at the Sam’s Club unit rose 1.2%, doubling the 0.6% growth in the prior year
MINNEAPOLIS — Target Corp. has acquired a transportation technology company to enhance its delivery capabilities. The company — San Francisco-based Grand Junction — is already working with Target on a delivery pilot at its store in New York’s Tribeca neighborhood. Grand Junction uses its software and data to connect retailers with local delivery services to