Strategy

Amazon.com launched its new Amazon Business marketplace earlier this year and now companies such as cloud-based e-commerce solution provider ChannelAdvisor are making it easy for suppliers to tap into the platform’s potential.

"The combined company will allow us to provide more value to customers and more effectively compete in a rapidly evolving environment,” said Ron Sargent, Staples chairman and CEO.

Boston -- Brian Tilzer, senior VP and chief digital officer of CVS Health, sat down with Chain Store Age at the opening of the CVS Digital Innovation Lab in Boston to discuss the strategy behind the lab and CVS’ larger goals for transforming health care through digital technology.

New York -- Target Corp. has laid off about 140 employees from its Minneapolis headquarters as part of its transformation efforts, and eliminated 50 open positions, the Minneapolis Star Tribune reported.

Including the latest round of cuts, Target has let go about 2,500 workers this year.

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Camp Hill, Pa. -- Rite Aid's first-quarter earnings plunged 55%, mainly on costs tied to a $2 billion acquisition. The chain also lowered its full-year profit outlook.

The drugstore chain in February announced that it would buy pharmacy benefits manager EnvisionRx.  Rite Aid said it expects the deal, expected to close by the beginning of July, to increase its annual revenue by as much as 18.6%.

The retailer earned $18.8 million in the quarter that ended May 30, down from $41.4 million in the year ago period.

New York -- Greeters are back on the job welcoming entering shoppers at select Walmart stores, the Wall Street Journal reported.

The chain moved most of its greeters away from the entrance and to other areas of the stores several years ago. But it has returned the associates to the entrances in several hundred stores in a move that is partially designed to stop theft, the report said.
 

The role of IT has shifted dramatically in retail in the past 10-15 years, from a simple automation tool to an enabler of competitive advantage and business transformation. At the same time, the role of the CFO in IT has shifted quite a bit as well, and some top finance executives may feel a little uncertain about their place in the new retail IT landscape.

Brian Kilcourse and Paula Rosenblum, managing partners at RSR Research who have both previously served as retail CIOs, have some advice for today’s retail CFO.

New York -- A former executive from Wal-Mart Stores has joined up with a real estate executive to expand New York City-based luxury home décor retailer Gracious Home.

Dottie Mattison who served in a variety of executive roles from 2006 to 2010 at Wal-Mart, including senior VP and general manager of the apparel global merchandising center and chief merchant of Walmart.com, has teamed up with David Mitchell to buy a majority stake in Gracious Home for an undisclosed price. Mattison will serve as CEO and Mitchell as chairman.

Cincinnati -- Kroger Co. on Thursday reported a big increase in its first quarter profit and its 46th consecutive quarter of positive identical supermarket sales growth, excluding fuel.

“Our results show the power of our Customer 1st Strategy," stated Rodney McMullen, chairman and CEO, Kroger. "Our associates are making a difference for our customers by providing excellent service and product quality and selection, and we continue to improve the shopping experience by bringing technology and digital capabilities to our business.

New York -- J.C. Penney CEO Myron Ullman and CEO-designee Marvin Ellison shared their thoughts on the company and its strategy going forward at a recent presentation to analysts.

For the story, click here.

New York -- CVS Health is rethinking every aspect of its store to ensure that it not only reflects the company’s broader commitment to healthcare and but also delivers on what customers have come to expect from its pharmacy locations. The move comes on the heels of its decision more than a year ago to pull the plug on tobacco products and rebrand the company as CVS Health.