Around May-June 2021, there was much ado on this forum about something called "Project Brady." A great masterful realignment involving Target. Immediately there were significant doubts from multiple corners, but the proponents kept it up. Meanwhile, the only mention of Project Brady over on r/CVS was just picking up what was said here.
So either Project Brady was real, or it was a hoax by a troll. The good news is something as significant as Project Brady would appear in the relevant annual reports.
CVS's annual report: http://s2.q4cdn.com/447711729/files/doc_financials/2021/ar/CVS2021_Annual-Report.pdf
The only mention of Target is:
- as a footnote: "The Company leases pharmacy and clinic space from Target Corporation."
- as another footnote: "Pharmacy includes LTC sales and sales in pharmacies within Target Corporation (“Target”) and other retail stores."
There were no mentions of the word "realignment," nor for "Brady."
Target's annual report:
https://investors.target.com/static-files/836c7937-1e68-4445-aa98-9a19448f4334
The only mentions of CVS are that Target is subleasing space to CVS, and also as a risk: "For example, we have a limited ability to end our relationship with CVS, which leases space to operate their clinics and pharmacies within our stores. If our guests have negative experiences with or unfavorably view CVS or other companies with whom we have relationships, it could cause them to reduce or stop their business with us."
If there was a great realignment or a new Target channel, there must be some mention of it somewhere in these annual reports. A significant change in the relationship between two Fortune 50 retailers, both of whom are publicly traded, would absolutely merit some mention somewhere.
There was no great realignment, with Target or otherwise. Project Brady is a confirmed hoax now.
The person responsible for this hoax is likely going to resort to his or her old tactics. The person responsible will try flooding this post with comments about how it doesn't have to be in the annual report for it to be true. Let me be absolutely clear: There would be hard evidence of a "Target channel" or a significant operational realignment involving not one, but two publicly traded companies. There isn't any hard evidence. QED, Project Brady is a hoax.
Its done. Its over. The hoax is finally put to rest.
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