Shipping shifts: FedEx is severing ties with Amazon as the online retailer builds out its own delivery fleet and becomes more of a threat to other shipping companies. FedEx’s decision to no longer make ground deliveries for Amazon comes two months after it said it was terminating its air delivery contract with Amazon. Read the full story.
Shrinking: Walgreens plans to close approximately 200 U.S. stores, the company announced Tuesday in an SEC filing. The move to close stores follows “a review of the real estate footprint in the United States.” The closing stores represent less than 3% of Walgreens nearly 9,600 U.S. stores, Phil Caruso, a Walgreens spokesman, said in a statement to USA Today. The company has yet to announce which locations will be closing. Read the full story.
Pendulum: CVS Health swung back to a profit in the second quarter and raised its 2019 forecast beyond Wall Street expectations thanks to an influx of revenue from recently acquired health insurance business Aetna. Rhode Island-based CVS Health runs more about 9,900 retail locations and last November, added health insurance to its operations when it acquired Aetna in a roughly $69-billion deal. Read the full story.