News

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.
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%.

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.
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.
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%.
Report: The money behind women’s closet doors

New York -- Women have a real investment hiding in their closets, according to a survey by Alliance Data’s Card Services business, which manages store-brand credit card programs for retailers.

One-fourth of survey respondents indicated the total value of the items in their closet to be from $1,000 to $2,499, and 17% valued the contents between $5,000 and $9,999.
Report: Walmart puts greeters back in front

Walmart is moving its greeters back to the front of the store three years after the retailer moved them to the back.

The Wall Street Journal is reporting that the retailer is experimenting with moving the greeters back to the front of the store in part to deter theft. Walmart is testing the approach in several hundred of its 4,500 or so U.S. stores, the newspaper says.

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GMA in Vermont GMO battle

Usually it’s California causing regulatory headaches for retailers and suppliers, but now tiny Vermont is getting in on the action with onerous labeling requirements and hefty fines that are expected to be a compliance nightmare.
Petco launches on-demand product delivery

Petco is joining the increasingly large group of retailers offering on-demand delivery of their products.

The specialty retailer has teamed with Instacart in a first-of-its-kind partnership in the pet industry. PetcoNow is a new service that gives pet parents the ability to have Petco products delivered directly to their door in as little as one hour.
Pier I Imports: Omnichannel transformation complete

Fort Worth, Texas -- There was good news in Pier 1 Imports’ first quarter performance, including a 2% increase in same-store sales.

The retailer reported net income of $6.9 million for the quarter, ended May 30, down from $15.1 million in the year-ago period. Its results were in line with expectations.