retail news in context, analysis with attitude

• The Associated Press reports that "Walgreens will shutter nearly 40% of the clinics in its stores as the drugstore chain cuts costs and shifts to other businesses it believes will draw more people through its doors. The company said Monday that it will close 150 Walgreens-run clinics by the end of the year, but it will keep open more than 200 that are run in partnership with health care providers."

At the same time, Walgreen "is working on partnerships with other companies like the grocer Kroger Co. to improve its food offerings. Walgreens said Monday that it also will open 100 locations for the weight-loss company Jenny Craig at stores nationwide, starting in January."


• Raley's has announced that it is closing 27 in-store pharmacies, citing challenging competition, and will transfer prescriptions from those stores to CVS, Walgreen, and Rite Aid locations. The company will continue operating 69 pharmacies in other stores.


• The Puget Sound Business Journal reports that "the Nordstrom family will no longer try to increase its ownership stake in its namesake company.

"In a filing with the Securities and Exchange Commission, the company on Monday said that over the past several months, the co-presidents had presented board members with proposals that would have given certain members of the Nordstrom family an increase in stock from about 31 percent to slightly more than 50 percent of the company's shares." Those conversations now have ended by mutual agreement.

The story notes that "the family had been wrestling for greater control for two years. They tried to take Nordstrom private in 2017, but that effort ended last year."
KC's View: