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Retail Placemaking

by Katie Lee

— By Kristin Harlow —   Owners are incorporating new uses and tenants in their retail redevelopment projects that help foster an environment where consumers want to linger.   The future of retail has been questioned many times in the last few years, but the sector continues to evolve and overcome the obstacles that arise. Today’s consumers want a gathering place to dine, drink and be entertained, especially after the isolation and stay-at-home mandates they endured throughout the pandemic. With that in mind, owners are redeveloping many underutilized retail properties …

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National Vision Welcomes Chief Stores Officer

by Katie Lee

Duluth, Ga. — National Vision Holdings, Inc., one of the nation’s largest optical retailers providing quality, affordable eye care and eyewear, has selected Roger Francis as chief stores officer, effective May 3, 2021. Francis will report to Reade Fahs, chief executive officer, and will oversee operations for more than 1,200 stores across all National Vision brands. Francis joins National Vision after 18 years with CVS, where he served most recently as senior vice president of HealthHUB Retail Operations and was responsible for leading the implementation of an innovative store format …

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Target, Other Retailers Temporarily Close Stores Across Nation in Response to Violent Protests

by Katie Lee

Minneapolis — Minnesota-based discount retailer Target has temporarily closed six stores in four states in response to protests that turned violent over the weekend. The looting and destruction of commercial property took place in the days following the death of George Floyd, an unarmed black man who died May 25 following an encounter with Minneapolis police during which an officer knelt on his neck for several minutes. On Sunday, several other retailers, including CVS, Apple and Walmart also announced temporary closures or adjusted hours in major cities where rioting had …

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CVS to Close 22 Stores in 2020

by Katie Lee

Woonsocket, R.I. — CVS Health plans to close 22 underperforming drugstores during the first quarter of 2020. The pharmacy chain is shifting its model to provide more healthcare services. In its third quarter results of 2019, the Rhode Island-based drugstore giant reported a 36.5% increase in revenue from $47.3 billion in 2018 to $64.8 this year. During 2018, CVS closed 46 underperforming stores and acquired health insurance and Medicare company Aetna for approximately $70 billion. The integrated companies moved forward with major asset redevelopments, including a “hub-and-spoke” model wherein smaller …

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CVS Health Promises Up To $10 Million in Product Donations for Hurricane Relief

by Katie Lee

Woonsocket, R.I. — Following the devastating damage caused by recent hurricanes, on September 19, 2017, CVS Health launched an in-store customer donation campaign to support the rebuilding efforts underway in the impacted areas. As part of this initiative, the company pledged to match all customer donations with critical products and supplies, up to $10 million.

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