REAL ESTATE

Walgreens plans major expansion in Chicago

BY Marianne Wilson

Deerfield, Ill. — Walgreens is expanding its presence in Chicago, and adding 600 new jobs in the process. Under its new "Chicago Hometown Investment Initiative," the drugstore chain plan to expand its downtown office space, add new stores and remodel up to 142 existing units.

“Walgreens is proud of our historic roots in Chicago and pleased to take our presence in the city to a new level by bringing more jobs and contributing to the prosperity and quality of life here," said Walgreens president and CEO Greg Wasson. "We already employ more than 4,500 people in the city, and the additional jobs we plan to bring here will position us to serve community needs in new and better ways.”

Walgreens’ "Chicago Hometown Investment Initiative" includes three key components:

  • Expanded downtown office space: Walgreens will expand its downtown presence for e-commerce, information technology and other support areas. The retailer estimates the move will bring approximately 300 jobs to downtown Chicago.
  • New and remodeled drugstores: Walgreens plans to open at least five additional stores in Chicago during the next two years, while also investing in remodeling many of its existing stores in the city. The new and remodeled stores, combined with expansion of Walgreens food oasis locations, are expected to add approximately 300 new jobs in the city.
  • Walgreens intends to quadruple the number of Chicago stores in which it provides expanded healthy food selections to serve communities identified as food deserts, or areas that lack access to basic foods necessary to maintain a healthy diet. In August 2010, Walgreens celebrated the opening of 10 redesigned stores on Chicago’s South and West Sides to include more than 750 new food items, including fresh fruits and vegetables, frozen meats and fish, pasta, rice, beans, eggs, whole grain cereals and other healthy meal components. The company now plans to double the number of stores with expanded healthy food selections by 2012, and double the number again in 2013, to reach a total of nearly 50 food oasis stores.
keyboard_arrow_downCOMMENTS

Leave a Reply

No comments found

Polls

Consumer confidence is high. Is that reflected in your stores’ revenues?

View Results

Loading ... Loading ...
FINANCE

Christopher & Banks profit, sales drop in Q1

BY Katherine Boccaccio

Minneapolis — Christopher & Banks Corp. reported Thursday that net income for the quarter ended May 28 was $1.9 million, compared with $6.3 million in the year-ago period.

Sales dropped to $123.8 million, from $126.2 million a year earlier. Same-store sales dipped 2%.

The retailer said it plans to open 31 new stores and close 35 existing stores in fiscal 2012.

keyboard_arrow_downCOMMENTS

Leave a Reply

No comments found

Polls

Consumer confidence is high. Is that reflected in your stores’ revenues?

View Results

Loading ... Loading ...
OPERATIONS

Report: Deal-seeking here to day

BY Marianne Wilson

Lewisville, Texas — Consumer deal-seeking is here to stay, according to a new report by Parago. The study, Shopper Trend Report: Values, Deals & How Far They’re Willing To Go To Get Them, provides a comprehensive look at the entire deal landscape, from traditional clipped coupons to mobile applications. It finds that deal-finding has evolved from a necessity for cash-strapped consumers to an attractive, trendy activity that all shoppers now pursue. It also examines how these trends will likely continue to affect shopper behavior.

“This report reflects the dramatic change in shopper behavior in the last three years, due to a confluence of technology, the economy and social norms, which has dramatically altered the shopper landscape,” stated Juli Spottiswood, president & CEO of Parago, a leading provider of consumer incentives. “Insights into shoppers and their motivations are paramount to driving our clients’ success.”

The report includes broad research on consumer shopping behavior and statistics surrounding all manners of deal finding, including couponing, deal-of-the-day websites, rebates and social media deal finding.

Some key highlights include:

  • Consumers now constantly demand value regardless of income or need.
  • A majority of consumers feel slighted and/or annoyed when they have to pay full price for an item.
  • Online searches for “printable coupons” jumped by 67% in 2010.
  • Consumer spending on deal-of-the-day offers will most likely grow to $3.9 billion in 2015.
  • The average household that takes advantage of rebates saves almost $150 per year and the rebate industry saved U.S. consumers approximately $8 billion in 2010.
  • Sixty percent of consumers follow at least one brand via a social network such as Facebook or Twitter, and 40% report doing so in order to get a coupon or promotion.

    Click here to download the whitepaper.

keyboard_arrow_downCOMMENTS

Leave a Reply

No comments found

Polls

Consumer confidence is high. Is that reflected in your stores’ revenues?

View Results

Loading ... Loading ...