Marathon running requires endurance, agility and stamina. Walgreens Co. chief executive officer Greg Wasson, who’s competed in both the Boston and Chicago marathons, would most likely add speed to the list. Appointed to his current position in February, he’s hit the ground running, with an ambitious plan to transform the mass market giant into America’s health and wellness epicenter.
Thus far, Wasson has rolled out a new store format, implemented a comprehensive costcontrol program and recruited top executives from outside, a dramatic departure from the retailer’s insular culture. “It’s my competitive nature to get this company back to double-digit [earnings per share growth] and strong shareholder returns,” he tells beauty financial editor Molly Prior. Wasson also shared his bold vision for the beauty category, which has the potential to transform not just Walgreens but the entire category. Discover his detailed plans for moving Walgreens forward in “Mass Uprising” on page 24.
Related Articles
You May Also Like
The competitive landscape for Walgreens looks very different today than it did in 1980, when Wasson first joined the company as a pharmacy intern. After almost a decade of consolidations and closings, the number of independent stores has shrunk dramatically, though new players, particularly in naturals, have entered to shake up the playing field. To get an overview of the channel today, we asked contributing editor Faye Brookman to compile a comprehensive A-to-Z list of North America’s mass retailers. You’ll find it in “It List,” starting on page 20. Ulta, Beauty 360 from CVS Pharmacy and PureBeauty, the retailers in “Sales Force,” know a thing or two about determination and grit. Each introduced bold new multichannel retail concepts over the last 12 months—need we say more?
One year later, mass market beauty editor Andrea Nagel reports how each is faring in the current economy and whether they’ve got what it takes to stay the course. Turn to page 32 for the answer. One thing every retailer in this issue has in common is their increasing emphasis on men’s products and the grooming category as a catalyst for growing sales. To that end, we’re introducing WWD Beauty Biz: Men’s Outlook, a biannual specialsection devoted entirely to the male market. Inside, you’ll find the lowdown on how marketers and retailers are capitalizing on the increasing emphasis on the sector, as well as insight on key product launches, power players and what drives guys to buy. On the cover is Hugh Dancy, the accomplished British actor who stars as the title role in Adam, a film that garnered rave reviews at the Sundance Film Festival and is being released in late July. Insiders expect the part to propel Dancy toward superstardom, a destination the category itself looks set on achieving, too.