In today’s top retail news, Walgreens is launching a new business segment focused on expanding the pharmacy chain’s healthcare offerings, while Ikea executives say they don’t see a quick end to supply chain issues. Also, Grove is opening a new division designed to acquire Amazon and eCommerce businesses, and Jana Partners is urging Macy’s to spin off its eCommerce business.
Walgreens is doubling down on its investment in healthcare offerings, with executives saying the future of the pharmacy retail chain is dependent on making medical care easier for connected consumers. The company is launching a new business segment, called Walgreens Health, to create a more unified, tech-enabled healthcare platform for consumers.
Home furnishing retailer Ikea said the ongoing supply chain bottleneck means it’s likely to face stock shortages for another year, a longer period than the company thought at the beginning of the pandemic. Ikea saw a 6% increase in sales through the end of August to a record level of almost $48.6 billion, including online sales almost doubled from a year earlier.
CBD and wellness company Grove, Inc. says it has launched a new division designed to acquire Amazon and eCommerce businesses called Upexi, giving sellers access to Grove’s ad technology and digital marketing expertise as well as direct partnership with a team of expert Amazon pay-per-click buyers. Grove says it is pursuing additional companies in the health, wellness, beauty and pet care markets that can further its growth.
Jana Partners has taken a stake in Macy’s Inc. and is pushing the retailer to separate its $8 billion eCommerce business from its traditional brick-and-mortar business, The Wall Street Journal reported Thursday, citing sources. In February, Macy’s forecast that its eCommerce business would hit $10 billion by 2023 as it transitions fully to a “digitally-led, omnichannel retailer.”