MINNEAPOLIS — Janna Potts has been promoted to executive vice president and chief stores officer at Target Corp. Target said Monday that Potts, previously senior vice president of human resources focused on stores and distribution, takes over the post effective immediate and replaces Tina Tyler. In the role, Potts will oversee Target’s 1,805 stores nationwide as
WOONSOCKET, R.I. — CVS Health Corp. has completed the acquisition of Target Corp.’s pharmacy and clinic businesses, making CVS the No. 1 drug chain by store count and sales. With the closing of the $1.9 billion deal, CVS has picked up Target’s 1,672 pharmacies across 47 states, giving it more than 9,500 prescription counters. Walgreens
NEW YORK — CVS Health has raised the midpoint of its earnings outlook for 2016 and reiterated its five-year steady state targets. The company now expects next year’s adjusted earnings per share to range from $5.73 to $5.88, reflecting solid year-over-year growth of 11.25% to 14.25%. The bottom end of the range was increased by
In many significant ways, the chain drug store business looks very different at the start of 2016 than it did a year ago. Walgreens Boots Alliance, which emerged from a two-step merger process at the close of 2014, spent the past 12 months rationalizing operations in the United States and developing synergies with its retail
Longtime retail consultant/analyst Walter Loeb likes what he sees from CVS Health. In a Forbes article on Friday, Loeb described CVS as a compelling health and wellness destination, especially in the wake of its acquisition of Target Corp.’s pharmacy and retail clinic business, which he called a “bold move.” “I expect CVS stores to be
WOONSOCKET, R.I., and MINNEAPOLIS — CVS Health has completed its $1.9 billion acquisition of Target Corp.’s pharmacy and retail health clinic business. The companies said Wednesday that Target’s 1,672 pharmacies in 47 states will be branded as CVS/pharmacy and operated under a store-within-a-store format. A CVS/pharmacy will be in all new Target stores that offer
NEW YORK — At its annual Analyst Day event here, CVS Health updated its earnings guidance for 2016 and reiterated its five-year targets. “Over the past several years, CVS Health has been preparing for the changes in the health care landscape by expanding our extensive suite of leading assets and capabilities,” said president and chief
BENTONVILLE, Ark. – Stephen Quinn reportedly is retiring next month as Walmart’s chief marketing officer. The discounter intends to hire Michael Francis, who spent nearly 27 years at Target Corp., as a marketing consultant, according to an article Thursday by the Wall Street Journal. Francis will begin an overhaul of Walmart’s marketing department and is
Larry Merlo, president and chief executive officer of CVS Health, was named the No. 1 CEO in the food/drug retailing sector by Institutional Investor magazine. Merlo was part of the financial publication’s “2016 All-America Executive Team,” in which more than 2,000 portfolio managers and analysts were asked to name the best CEOs, CFOs and investor
WOONSOCKET, R.I. — CVS Health posted sales gains in both its retail pharmacy and pharmacy services businesses for the 2015 third quarter, with adjusted earnings per share (EPS) finishing in line with analysts’ projections. CVS also said Friday that it has expanded its business segments to incorporate operations from the Omnicare Inc. acquisition, which closed
NEW YORK — As much as the chain drug industry has consolidated, there is room for more mergers and acquisitions. That’s evident from the M&A speculation swirling about the sector in the U.S. and Canada, as well as recent activity. Lending credibility to the speculation is none other than Walgreens Boots Alliance (WBA) chief executive
MINNEAPOLIS — Target Corp. has promoted John Mulligan, the company’s chief financial officer, to the newly created role of executive vice president and chief operating officer. Succeeding Mulligan as executive vice president and CFO is Cathy Smith, who previously worked as executive vice president and CFO at Express Scripts, the nation’s largest pharmacy benefit manager.
MINNEAPOLIS — Target Corp. executive vice president of merchandising Jose Barra, whose areas of responsibility included the retailer’s pharmacy business, is leaving the company. His departure is the latest in a series of executive changes at Target under chairman and chief executive officer Brian Cornell. Barra was promoted to executive vice president of merchandising last
MINNEAPOLIS – Target Corp. announced that is promoting John Mulligan, the company’s chief financial officer, to the newly created role of executive vice president and chief operating officer, effective September 1. Mulligan will assume oversight of stores, supply chain and properties. Succeeding Mulligan as executive vice president and CFO will be Cathy Smith, who previously
