First quarter financial results indicate that its fresh approach to retail and health care, including the company’s Aetna acquisition, is making gains, said Larry Menlo, CVS Health Corp. president and CEO.
Rite Aid’s board of directors has appointed Elizabeth Burr, who most recently served as chief innovation officer and vp/health care trend and innovation at Humana, and Katherine Quinn, who currently serves as vice chairman and chief administrative officer of U.S. Bancorp, to the company’s board.
As it continues struggling to generate profits, Rite Aid posted a net loss from continuing operations of $255.6 million, or 24 cents per share, versus a net loss of $483.7 million, or 46 cents per share, in the year-earlier period.
Walgreens Boots Alliance and Microsoft Corp. have joined forces to develop new health care delivery models, technology and retail innovations to advance and improve the future of health care, the companies said.
Shopko has filed a Chapter 11 bankruptcy petition in the U.S. Bankruptcy Court for the District of Nebraska and announced, in concert with the legal action, that it would close 38 stores, relocate about 20 optical centers to freestanding locations, and conduct an auction process for its pharmacy business.
Walgreens Boots Alliance generated a solid first quarter while launching a cost management program that will look to save more than $1 billion.
Kroger and Walgreens recently expanded on the exploratory pilot concept the two retailers announced in October, in which the companies began testing a concept combining Kroger’s grocery expertise with Walgreens’ mix of pharmacy, health and beauty.