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Target's chief merchandising and supply chain officer steps down and CVS Health hires a new chief marketing officer. Catch up on all the other comings and goings in the retail industry in this week's Chutes & Ladders.
Following the announcement that CVS Health would acquire the pharmacies and clinics at more than 1,600 Target stores, Target's CEO Brian Cornell sat down to answer some questions on the company's blog, A Bullseye View.
CVS Health has agreed to acquire Target's pharmacy and clinic business for $1.9 billion. Through the agreement, CVS Health will acquire more than 1,660 pharmacies across 47 states and operate them as stores within stores. In addition, Target's 80 clinics will be rebranded as MinuteClinics.
Target announced it will discontinue its pre-paid wireless phone service just two years after the service's launch. Customers of Target's Brightspot are being contacted and notified that service will be terminated by the beginning of 2016 and no new consumers can activate the service after June 24.