Walgreens has really helped to transform why consumers shop a drug store with its position in healthier-for-you foods and fresh produce. That’s not just thinking outside of the box for traditional retail pharmacy operators; that’s throwing out the box altogether and replacing it with an in-store food pyramid.
With an army of 26,000-plus beauty advisers, the expansion of the LOOK Boutique concept, the expertise from its online beauty engine Beauty.com and the Walgreens-Alliance Boots transaction, Walgreens is giving the U.S. mass market beauty world a makeover like no other.
For the more than 100 years that Walgreens has been in operation, the company has been focused on helping its customers, communities and patients feel well. And now, it is poised to transform the traditional drug store into a health and daily living destination.
"You’ve got to skate to where the puck is going, not to where it’s been.” That’s how Bryan Pugh, who is Walgreens’ VP and chief merchandising officer, described how the merchandising department functions at Walgreens.
In June, Walgreens announced a two-step investment in a strategic partnership with Alliance Boots, to acquire a 45% equity stake in the privately held company for $6.7 billion in cash and stock in the first step with the option to acquire the other 55% approximately three years down the road at what is today being projected to be another $9.5 billion price tag in cash and stock.
A carrot, a stick and a face-to-face encounter. Those are the tools that will chisel away at healthcare costs, noted Wade Miquelon, Walgreens EVP and CFO. And Walgreens is uniquely positioned to help realize those savings.
For years, Wall Street — and customers, too — rewarded Walgreens for being the hedgehog of retail. A homage to the old Aesop fable, unlike the fox, the hedgehog is steady and methodical. And, that’s just how Walgreens operated its business.
One of the most visible representations of Rite Aid’s efforts to make a comeback is its Wellness store format. The company first unveiled the format in several test markets in the Northeast last year, gradually expanding it to other states.
Everybody loves a comeback story, and it looks as though the pharmacy retail industry has one of its own in the making as Rite Aid’s latest earnings report showed another strong quarter for the Camp Hill, Pa.-based chain, which has been steadily growing its sales and narrowing its losses for several quarters already.