Walgreens to debut new store format
Walgreens will unveil the first iteration of its new store format later this spring or in early summer, executives said at the 36th Annual J.P. Morgan Healthcare Conference.
It will mark the first major overhaul of the core Walgreens format since it finalized its merger with Alliance Boots in December 2014. The updated format will bring together many of the services Walgreens has been perfecting under one roof — including such healthcare offerings as in-store lab services, optical services and patient care through partnerships with such companies as MedExpress, Alex Gourlay, co-COO Walgreens, told J.P. Morgan healthcare analyst Lisa Gill.
Gourlay expects to pilot the new format for as many as 18 months before rolling the model out.
“We need maybe six months, maybe 18 months, to really understand all of these components to get the right business components to scale,” he said.” Some will scale individually, some will scale collectively. That’s the work we’re doing next.”
Once the format comes together, Walgreens won’t be stopping at just one store.
“We have worked out many of the components, [including] the capital costs required to be able to scale that when we get to the right point,” Gourlay said. “It also tells you we’ve been working on the retail side of the business to create the space to actually accommodate these services.”
Land’s End to unveil new store concept; launch brick-and-mortar expansion
Specialty apparel retailer Land’s End is doubling down on physical retail.
In a presentation at the ICRC Conference in Orlando, the company said it will unveil a new store concept in Chicago this year, and plans to open four to six additional locations. But that’s just the tip of the iceberg. During the next five years, the company expects to open between 40 and 60 stores, reported Marketwatch.com.
Lands’ End currently has about 180 locations in Sears Holdings stores. But with Sears continuing to shutter stores, the specialty retailer said it will not be relying on Sears for future growth.
“[I]t’s our expectation that our Sears business at a point in time will go away and that we’ll be talking directly to the consumer through our own stores,” Lands’ End CEO Jerome Griffith said at the conference. Griffith, who assumed his position in March 2017, was previously president and CEO of upscale luggage brand Tumi Holdings.
Land’s End, which started out as a catalog company, was bought by Sears in 2002, before the department store’s acquisition by Eddie Lampert. It was spun off as a separate company in 2014.
Call for entries: SPECS Tank
Chain Store Age’s 2018 SPECS Conference is looking for a few innovative ideas.
This year’s SPECS (March 18-20, Gaylord Texan, Grapevine, Texas) program will feature a special edition of “SPECS Tank” that will feature up to six contestants vying for the title of “SPECS Tank Innovator of the Year.” Retailers and exhibiting suppliers who have developed an idea, solution or product that has not been mass-produced and is intended for use in retail design, construction, or facilities management are encouraged to enter and show off their ingenuity. Selected contestants will demonstrate the product concept, mock-up or solution to the panel of judges, and will have approximately three minutes to quickly explain the product or solution, what it does, and how it would be used. To enter, click here.
The judges will select their favorite product/solution among the group, and the winner will be honored as “SPECS Tank Innovator of the Year” and receive $1,000. Each of the remaining finalists will receive $100.
The contest is open to all retailers as well as suppliers that are exhibiting at SPECS 2018. The deadline for entries is February 1, 2018. If you have any questions, email Katherine Boccaccio at [email protected]