News Briefs

In 2012, Frank Theatres signed a lease with Kingsport Town Center in Kingsport, Tenn for a 12-screen cineplex that would include an IMAX theater. Ground was never broken on the project.

Augusta, Ga.-based Hull Property Group purchased the half million-sq.-ft. property — now known as Fort Henry Mall — from Avison Young after receiving a 10-year tax break from the city of Kingsport to renovate the property. 

Frank Theatres, meanwhile, did not receive the incentive deal it had expected from the municipality, stopped paying rent, and never broke ground on the cineplex.

Hull entered into a lawsuit with Frank Theatres in 2016 over non-payment of rent, which allowed the cinema company to exit the mall if it left all its equipment behind. NCG Cinemas took the space, remodeled the theater, and re-opened it in 2017 — minus the IMAX theater.

This week, however, the Kingsport Economic Development Department announced that it had submitted design and development plans to IMAX and expects to win its approval by year’s end. The municipality and Hull hope to begin construction on the theater in January

In addition, Rural King has begun interior demolition of the former JCPenney at Fort Henry Mall and looks forward to open next spring at the property that had lost key tenants that included Aeropostale and Kirkland’s.

Rural King, which sells products for farms and homes, operates sizeable stores that range up to 100,000 sq. ft. in size.

Five years ago, WS Development was brought in by the Cape Cod Gateway Airport, the Town of Barnstable, and the Cape Cod Commission to execute the transformation of Capetown Plaza into The Landing at Hyannis. 

This week an all-important anchor lands at the 238,000-sq.-ft. center: Whole Foods Market. Other new tenants set to open at the project within the coming year are Nordstrom Rack, Warby Parker, and SkinMD.

Current tenants include Old Navy, Panera Bread, and The Paper Store. 

“This exceptional mix of beloved and new-to-market brands speaks to the evolution of the property and will bring fresh experiences to both residents and visitors.,” said Bryan Furze, senior VP of leasing for WS.

WS’s remake of the property has included significant site improvements, as well: wholesale façade upgrades to the main building; remodeling of interior spaces; new lighting, paving, and landscaping, and the addition of a public green with outdoor seating.

The 42,560-sq.-ft. Whole Foods at The Landing is a relocation of a store that had operated at  another location in Hyannis. The new store will offer grocery delivery to Cape Cod residents along with grocery pickup, and the store will have an Amazon returns counter and kiosk. 

Dave Clark, former CEO of Amazon’s worldwide consumer business and co-CEO of logistics company Flexport, is launching a new venture.

Clark, who assumed the role of co-CEO at Flexport in September 2022 shortly following his departure from Amazon after serving two years as its CEO of worldwide consumer business and 23 years with the e-tailer in total, is now the founder and CEO of a supply chain solution start-up called Auger.

[READ MORE: Veteran Amazon exec Dave Clark to depart as CEO of consumer business]

Clark, who according to CNBC left Flexport after a “short but tumultuous stint” in September 2023, announced in an Oct. 8, 2024 LinkedIn post that he is introducing Auger, an “intuitive, automated, and transformative supply chain solution.”

Backed by a $100 million investment from growth equity firm Oak HC/FT and led by what Clark calls a "team of world class experts," Auger will provide AI-powered automation, paired with what Clark says will be a “consumer-grade user experience. 

"This combination allows operators to handle complex tasks through simple, familiar tools," said Clark. "Actionable data appears instantly, enabling swift decisions—no complex queries or training required."

Auger’s founding team is located in Bellevue, Wash. (where Clark’s former employer Amazon has offices), and Clark said the company will reveal more information in the coming months.

Clark is widely credited as the architect of Amazon's massive warehouse and fulfillment network. He also was responsible for Amazon’s  impressive transportation network, which now includes in-house planes, trucks and delivery vans.

Kroger is enhancing its Boost by Kroger Plus membership program with new streaming benefits.

Members of the program will now have access to Disney streaming options as part of annual memberships. Kroger Plus members can select Disney+ Basic (with ads), Hulu (with ads) or an ESPN+ subscription as an included benefit.

For the $99 Boost plan, new enrollees and existing members may select a complimentary subscription to Disney+ Basic (with ads), Hulu (with ads) or ESPN+ for the duration of their $99 Annual Membership. For the $59 plan, new enrollees and existing members may select a complimentary one-time six-month subscription to Disney+ Basic (with ads), Hulu (with ads) or ESPN+. Existing members can upgrade to the Boost $99 annual plan for an ongoing subscription.

[READ MORE: DoorDash bolsters membership plan with Max]

With Boost, members receive free delivery, more fuel points at Kroger gas stations, and exclusive offers in-store. The program was launched in 2022 after being piloted in four markets. The grocer says that Boost members can save up to $1,000 per year on fuel, groceries and delivery fees.

"Boost by Kroger Plus offers members incredible savings every day, and now we are adding even more value at no added cost for our members," said Stuart Aitken, senior vice president and chief merchant and marketing officer at Kroger. "Collaborating with Disney takes Boost member savings and benefits to the next-level, making our industry-leading program even more valuable and convenient for our members."

Based in Cincinnati, Kroger operates nearly 2,800 stores under a variety of banners that include Kroger, Ralphs, Dillons, Smith’s, King Soopers, Floors 4 Less, Fry’s, Harris Teeter, Fred Meyer and others.

The Kroger Co. has officially closed a transaction to sell its specialty pharmacy business to Elevance Health.

Fulfilling an agreement first announced in March 2024, Kroger has closed a sale of its specialty pharmacy unit to CarelonRx, a unit of U.S. health insurer Elevance Health. The financial terms of the transaction were not disclosed, but it is not expected have an effect on Kroger’s full-year financial outlook and both companies said they have worked to ensure minimal disruptions for patients and associates.

[READ MORE: Kroger to sell specialty pharmacy business]

The specialty pharmacy formerly owned by Kroger, serves patients with chronic illnesses that require complex care, including rheumatoid arthritis, growth hormone deficiencies, multiple sclerosis and bleeding disorders. 

Kroger in-store retail pharmacy locations and The Little Clinics were not included in this transaction. The sale is not expected to have an impact on 2024 guidance and is not connected to Kroger’s ongoing efforts to undergo a proposed $25 billion merger with fellow grocery giant Albertsons.

RBC Capital Markets, LLC is serving as financial advisor and Weil, Gotshal & Manges LLP and Arnold & Porter Kaye Scholer LLP are serving as legal advisors to Kroger.

Based in Cincinnati, Kroger operates 2,800 stores under a variety of banners across the U.S.

Pharmacy retailer Walgreens has added a healthcare veteran to its C-suite.

The company has announced the appointment of Jason Stenta as senior VP and chief commercial officer. In this new role, Stenta will lead Walgreens’ commercial growth strategy, including the development and commercialization of B2B healthcare services and enhancing partnerships with payers, health system providers and life sciences companies. He will begin his new role in early October.

Stenta brings nearly 20 years of healthcare experience to Walgreens. Most recently, he served as senior VP of payer sales at healthcare company Optum beginning in April 2023. Previously, he spent more than three years at Change Healthcare, serving as senior VP of payer account management and then senior VP of payer sales. Prior to Optum, Stenta held leadership roles at CVS Health for 10 years.

“Jason is a strategic, relationship-driven healthcare leader, and I’m proud to welcome him to the team,” said Mary Langowski, executive VP and president of U.S. healthcare at Walgreens Boots Alliance. “His experience with complex healthcare organizations, along with his strong understanding of market dynamics, regulatory requirements, and customer needs, will be invaluable as we strengthen our relationships and solutions in healthcare.”

[READ MORE: Walgreens launches student loan 401(k) match program]

Walgreens operates nearly 9,000 retail locations across the United States and Puerto Rico.