When I think of Walgreens (WAG), I ususally think of a simple drugstore chain, on par with names like CVS (CVS) and Rite Aid (RAD).
Walgreens is trying to change that, though. And the only way to go is up.
The nation’s largest drugstore chain is hoping to become an upscale one-stop shop in urban locations via a larger and “luxurious shopping experience featuring self-serve froyo, sushi, a juice bar, beauty advisers, and manicure and brow-shaping stations,” as USA Today put it.
Walgreens just opened 10 new flagship stores in cities from Los Angeles to Washington D.C. While the emphasis is still on health and wellness, the big-picture goal is to offer customers “a cross between Target (TGT) and Sephora, but in locations you wouldn’t normally find either of those stores.”
The phrase Walgreens is favoring? “A retail health and daily living destination.”