Walmart announced that it would no longer honor prescription drug coverage from CVS Caremark, CVS’s pharmacy benefits manager, due to a dispute over reimbursements for the prescription drugs it dispenses to the PBM’s members.
Sears Holdings chairman Eddie Lampert outbid liquidations firms in a bankruptcy court option. The bid by Mr. Lamperts hedge fund, ESL Holdings, means that the retailer will be able to keep roughly 400 of its stores open.
Consumer purchases drive much of the American economy and economists and others have causes for concern as 2019 gets started. The effects of the government shutdown, tariffs and the possibility of a cyclical slowdown are unknown.
Scott Emmons, former founder and director of Neiman Marcus’s innovation lab, said his decision to leave the retailer was based on a number of internal challenges that he believes are common throughout retailing, including poor strategy, a lack of c-suite buy-in and a lack of resources.
Nordstrom saw its share price fall more than seven percent after the retailer reported that sales at its full-price stores fell below expectations, prompting the company to adjust its expected fiscal year’s earnings to the lower end of the $3.27 to $3.37 guidance it had previously given.
Walgreens is working with Microsoft on a 12-store pilot of “digital health corners” intended to help recommend the sale of health-related devices and provide information to help consumers with chronic health issues to manage them more effectively.
Clemson’s national football team visited the White House, which inspired a tweet from President Trump that said he was serving the students and their coaches hamburgers. Mr. Trump later pulled the tweet, apparently because of the misspelling, but that didn’t stop Burger King, which is known for tweaking McDonald’s and others through its feed, from…
Fifty-nine percent of Americans have at least some interest in smart home devices if not a fully equipped house, but the prospect of a potential boom market has tech companies and consumer brand makers rushing to come up with the next cool thing.