Prognosis
Walgreens CEO Says Pharmacy Chain Will Survive Amazon Threat
- ‘They understand that you cannot just be online,’ Pessina says
- Walgreens would buy a drug distributor only if price is right
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Walgreens Boots Alliance Inc. Chief Executive Officer Stefano Pessina said it will be easier for his company to move online than it will be for Amazon.com Inc. to copy its massive store network, predicting a long future for the pharmacy chain as it strikes new partnerships in health and retail.
In a wide-ranging interview at Bloomberg’s headquarters in New York, Pessina said that reports that Amazon.com may open up thousands of physical stores is a acknowledgment that a brick-and-mortar presence is still important in some retail markets.