Retail Roundup—Best Buy expands tech; Walmart gives $5M to retail careers

Best Buy
Best Buy is expanding its tech program for teens.

Walgreens to shutter 600 stores in Rite Aid deal

Walgreens plans to close 600 locations as it completes a $4.38 billion deal to acquire Rite Aid. As part of the deal to pick up 2,000 Rite Aid locations, Walgreens has agreed to close the locations, a vast majority of which will be within a mile of another store in the portfolio. (Chicago Tribune)

Best Buy expands tech program for teens

Best Buy announced an expansion of its after-school tech program for underprivileged teens. The number of tech centers will grow from 11 to 60 in the next three years. The centers, supported with help from nonprofit organizations, focus on robotics and 3D printing. (Post Bulletin)

Walmart gives $5M to advance retail careers

Walmart gave a $4.8 million grant to Generation, a nonprofit that focuses on youth employment, to launch a retail career advancement program in Jacksonville, Florida. The six-week program aims to equip employees with interpersonal skills, dependability, professionalism, teamwork and problem solving, and culminates in a certificate from the National Retail Federation. (Daily Record)

Nike to shutter stores, focus on direct to consumer

Nike's latest transformation includes selling more directly to consumers and speeding up its supply chain and product development. In order to achieve its long-term goals, the brand will close many retail locations and strive to reach $50 billion in revenue within the next five years. (CNBC)

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