According to the Wall Street Journal, Target Corporation has entered into an agreement with CVS Health Corp to sell its pharmacy business for $1.9 billion. Under the deal, all of Target’s 1,700 in-store pharmacies will be rebranded and feature a “store within a store” concept that Target hopes will continue to help drive in customers, while the big box retailer can focus on products and services with higher margins. In addition to pharmacy rebranding, CVS Health also acquired Target’s 80 health clinics under the deal.
CVS Health and Target partnership could be very beneficial for both companies
Target Corp and CVS Health’s new partnership is based on a simple