Retail News

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Report: Hy-Vee to pilot format tailored to online shoppers

Hy-Vee is looking to unveil a new small-format store — tentatively called Hy-Vee Fast & Fresh — aimed at shoppers picking up groceries or making quick trips, according to a report in the Des Moines Register. The report notes that the store would be between 12,000 and 16,000 sq. ft. — smaller than the typical 90,000-sq.ft. store — and include fuel pumps and groceries, though much is still being worked out. (Des Moines Register)

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NYT: Greg Wasson to chair new tech startup incubator

Former Walgreens CEO Greg Wasson's family investment office is joining forces with Innventure, a group that aims to develop businesses around new technologies lent by big corporations, The New York Times reported last week. P&G is expected to be the company's first partner. “Innventure will identify the opportunities, create a company, nurture it, then put in a management team to where it stands on its own — and then we move on,” Wasson, the company's chairman, told The New York Times. “What I think is most interesting is that we’re looking to help leverage their powerful R&D machine with our nimble entrepreneur team to identify the opportunities that they have developed.” In return, Innventure will have a stake in any companies it creates. (The New York Times)