In the race to reach new customers, mega-grocer Kroger has signed a partnership with Walgreens to embed mini grocery stores in the pharmacy chain’s locations. Heather Haddon reports at The Wall Street Journal:
Kroger and Walgreens executives wouldn’t say how the companies would share sales revenue or provide financial details of the deal. Kroger and Walgreens will supply and operate the Kroger-branded sections together, officials said.
Kroger won’t sell store-brand items that compete with Walgreens’s private-label products, but it will take over its supply for branded goods, the companies said. Deerfield, Ill.-based Walgreens has struck a number of deals recently, such as taking a minority stake in the Birchbox Inc. cosmetics company and offering parcel services at stores through FedExCorp.
“This is consistent with our broader partnership strategy,” said Adam Holyk, Walgreens senior vice president and chief marketing officer.’
Read more here.
Jeremy Jones, CFA
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