News

What the CFO Needs to Know About IT
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.
CVS Health’s new digital innovation lab focuses on customer experience
Boston -- Imagine a world where access to any health information or services you needed was available at any time through your digital device. We are not there yet, but CVS Health is doing its best to create that world with its new Digital Innovation Lab located in Boston.

Kroger does it again

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.
Next up for Alibaba: Robots

Tokyo -- Alibaba wants to put a robot, specifically one named Pepper, in your home — or store.

The Chinese e-commerce giant and Foxconn Technology Group announced they are each investing $117.8 million in Japanese telecommunications giant SoftBank’s robotics unit, SoftBank Robotics Holding Corp. Softbank will own 60% of the joint venture, with Alibaba and Foxconn each holding ownership stakes of 20%.
Rite Aid gunning for CVS, Walgreens

On the heels of big news from rival drugstore CVS this week, Rite Aid says it is expecting its EnvisionRx acquisition to increase the company's annual revenue by as much as 18.6%.
Food phenom Kroger outdoes itself in Q1

Kroger turned in a stunning first quarter same store sales performance while expanding omnichannel and convenience capabilities designed to extend a comp streak now well into the 11^th year.

Same store sales rose 5.7% excluding fuel in the first quarter ended May 23. Net income attributable to Kroger rose to $619 million, or $1.25 per share, in the first quarter, from $501 million, or 98 cents per share, a year earlier.
Happily Eva after for New York & Co.

Customers have responded so well to New York & Company’s collaboration with Eva Mendes that the retailer has extended its deal with the Cuban-American actress.

Launches in 2013, the Eva Mendes Collection features five seasonal assortments and 11 unique deliveries a year, which feature apparel and accessories.
Ex-Walmart exec is new co-owner of N.Y. retailer

A former Walmart executive has joined with a real estate executive to expand New York City-based luxury home décor retailer Gracious Home.
Ace colors summer with new paint palette

Ace Hardware wants shoppers to think summer paint projects by introducing a new curated color palette for the warmest season of the year.

Ace's Design Experts have curated a paaint color palette for summer 2015 using colors from the Clark+Kensington paint+primer in one collection.

Featuring hues reminiscent of long summer days and seaside vacations, the colors range from vibrant and bold to grounding neutrals.
Alibaba's next bet is robots

Alibaba wants to put a robot, specifically one named Pepper, in your home — or store.
CVS Health opens tech hub in Boston

CVS Health is aiming to develop cutting-edge digital services and personalized capabilities that will revolutionize health care, and it's all starting with its new lab in Boston.

The CVS Health Digital Innovation Lab, which is now open, will serve as a vital hub for the rapidly growing digital team at CVS Health, which will remain headquartered in Woonsocket, R.I.
Walgreens to offer free HIV tests

DEERFIELD, Ill. — Walgreens is participating in a Centers for Disease Control and Prevention pilot with Greater Than AIDS and other organizations and local officials to expand HIV testing services and connect more people with the virus to treatment and care.