Target's $1.9B CVS deal gets it out of a losing business

It's not easy to profitably run pharmacies and retail medical clinics, so Target Corp.'s $1.9 billion deal with CVS Health Corp. to escape the business makes sense. Target's $4.2 billion pharmacy business lost money last year, Chief Financial Officer John Mulligan told analysts on a conference call Monday. By turning its pharmacies and retail clinics over to CVS, Target cuts those losses but retains customers who come to fill prescriptions but (in a scenario familiar to many Target shoppers) then…
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