News Briefs

The wind down of a former retail pharmacy powerhouse continues.

The U.S. Bankruptcy Court of New Jersey has given the green light to CVS Pharmacy bids on the prescription files of 625 Rite Aid pharmacies across 15 states in areas that CVS serves, as well 64 physical Rite Aid stores in Idaho, Oregon and Washington. (The court also approved the sale of certain Rite Aid prescription files to Walgreens, Kroger and others.)

“We’re well-positioned to serve our existing customers and patients, as well as those who may be transitioning to us from Rite Aid,” CVS said in a statement. “We’re working closely with Rite Aid on plans to ensure that the transition will be seamless for patients and customers and access to pharmacy care is not interrupted. Once the sale is finalized, we look forward to welcoming Rite Aid colleagues who are interested in applying to join the CVS team.”

Rite Aid has been winding down operations, including closing stores, since it declared bankruptcy earlier this month and said it was pursuing a "strategic and value-maximizing sale process" for substantially all of its assets. The company, which had some 1,300 stores at the time of its filing, is still looking to sell some of its stores to other retailers, with an auction planned for June.

As of Dec. 31, 2024, CVS had more than 9,000 retail pharmacy locations nationwide.

The offices of Chain Store Age will be closed on Monday, May 26, in observance of Memorial Day. We will reopen and resume publishing DayBreaker on Tuesday, May 27.

We wish our readers a happy and safe holiday weekend!

In addition, the company collaborates with diabetes care provider Sanofi to offer access to Lantus (insulin glargine injection) 100 Units/mL in the U.S. for a discount price of $35 for a 30-day supply, directly competing with reduced-cost insulin programs offered by Amazon and Walmart. 

[READ MORE: GoodRx takes on Amazon, Walmart with discount insulin coupons]

Walmart Inc. is doing some corporate restructuring in an effort to simplify operations. 

The nation’s largest private employer plans to eliminate roughly 1,500 jobs as it looks to manage costs and accelerate decision-making, according to a report by the Wall Street Journal.

In a memo to employees, Walmart U.S. chief executive John Furner and global chief technology officer and chief development officer Suresh Kumar said the restructuring would occur across staff in its global tech and U.S. operations “to remove layers and complexity, speed up decision-making and help associates innovate rapidly,” the report said.

The layoffs will impact teams in Walmart’s global technology operations, e-commerce fulfillment in U.S. stores and its advertising business, Walmart Connect, reported Reuters.

In reporting its earnings last week, Walmart warned of higher prices from tariffs. In response, President Trump blasted the company on social media and told them to “eat the tariffs” as opposed to passing on the costs to consumers.

Consumers can expect discounts in the range of 7% to 10% off listed price across major e-commerce categories over Memorial Day weekend.

That’s according to Adobe Analytics, which said that deepest discounts are expected to be in electronics, apparel and sporting goods. In electronics for example, discounts are expected to peak at 10% off listed price on May 24 (Saturday). 

Adobe also anticipates this to be the first Memorial Day weekend where more than half (52%) of online sales will come through mobile devices, driven in part by notable discounts and impulse purchases. 

In other insights, Adobe anticipates bigger ticket items (such as large appliances and furniture) will be hot sellers over Memorial Day weekend. For example, online sales of air conditioners are expected to rise as much as 200% (compared to average sales levels in April 2025). During the most recent past weekend (May 17 to 18), early deals are already driving an uptick across categories. For air conditioners, online sales were up 119%. 

In apparel, Adobe expects a boost in children’s apparel, with online sales up as much as 130%. Online sales in this category were already up 56% this past weekend, as consumers took advantage of early deals to stock up on children’s socks, underwear, shorts, and t-shirts.  

In sporting goods, online sales of bicycles are expected to rise by as much as 140% (up 91% this past weekend). And for pool equipment, online sales are expected to rise by as much as 130% (up 85% this past weekend). 

Faced with economic uncertainty and looming tariff threats, U.S. consumers are taking a pragmatic approach to their finances in the face of economic uncertainty and tariff threats.

A majority (64%) of consumers have sped up planned purchases or stocked up on goods to get ahead of potential price increases, with the spending led by Gen Z and millennials (72), according to new data from Bread Financial. As to what they are spending on, groceries is out in front (36%), followed by electronics (24%), apparel (19%), beauty/personal care (17%) and cars/trucks (12%).

In other findings, 78% of consumers have already changed how they shop due to tariff concerns, with 46% making fewer purchases overall.

Other highlights from the Bread Financial data are below.

• Seven-in-10 consumers say that tariffs, inflation, or economic stress is causing tension in their households, led by grocery spending.
• Forty-four percent have either started or increased their savings this year, and 64% report having at least some savings on hand.
• More than half (58%) of respondents believe the economy will either stay the same (17%) or worsen (41%).
• Just over half (55%) feel confident they could handle a downturn financially.
• Most consumers still have one thing they won’t do without. Their top pick: coffee (20%). This was true for all generations, except Gen Z, who put beauty/personal care in their top spot (16%).