Posted on 07/25/2024 11:27:56 PM PDT by Secret Agent Man
Shoppers, it may be time to find a new pharmacy. Walgreens is closing up to a quarter of its 8,600 stores within the United States.
Walgreens CEO Tim Wentworth recently explained to the Wall Street Journal on June 27 that the closures would focus on locations that aren't profitable, too close to each other or stores struggling with theft.
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According to CNN, 75% of the company's U.S. stores account for 100% of its operating income. The company will examine the remaining 25% of its 8,600 stores for closure. That equates to roughly 2,150 stores closing shop across the country over the next three years.
(Excerpt) Read more at finance.yahoo.com ...
America needs to bust up these monopolies.
That sound you hear is Atlas shrugging.
And I don’t want to hear a damned thing about “deserts”.
Maybe the silver lining is in some of the areas they pull out of, smaller independent pharmacies may be able to find a place to fill a need and do well.
Costs too much to start a small business, in many cases. This isn’t like the 1930’s, where you can start selling salt and build up from there.
I agree it would be difficult.
“Walgreens and CVS drove thousands of small business pharmacies out of business”
In some cases Walgreens, at least, bought out independent pharmacies and merged them with their own or sometimes continued operating in the original location but under the Walgreens name. I know a pharmacist-owner who got a real nice retirement out of that.
A lot of Walgreens have a doctor’s office in them.
Wonder where those doctors will move?
Sites with a free 1K steal rate. I do hope demonrats have no stores left to shop for o. Except those that charge 27.50 for a loaf oof bread. Hope they starve and chock on their liberal decisions.
Try turning. Them into pharmacies not convince stores.
Amazon moving into the pharmacy business cannot be a good thing for established pharmacies.
Here in Florida, we like to have a company service our pools. Two locations. We want to pay cash. Outfits are too dependent on third parties for billing that they can’t get a simple cash customer a ledger showing payments if I don’t use online pay services.
In 3 months we’ve paid them $1000, in cash, and they are dropping us for the younger customer base that pays everything online.
Publix, Winn-Dixie, Costco and Walmart all have their own in-store pharmacies, so CVS and Walgreens hardly has a monopoly affecting specific geographic areas. The argument that these mega corporations are hurting people is a false one. The closures will only hurt the employees who will lose their jobs because of the Soros-paid local prosecutors who have encouraged retail theft by decriminalizing it.
“stores struggling with theft”
Ssshhhh......
Walgreens “BOGO” offerings often move their inventories into YOUR medicine cabinet.
You willingly buy “BOGO” to fight the price-increases brought by BIDENFLATION.
I just found a new one after Rite-Aid went t*ts up. Went back to the family owned one I used to go to. They were gonna transfer my scripts to Walgreens until I heard the above news. Not doing that twice.
CC
The small, rural town in which I live has such a local pharmacy. It’s a great place to do business, and service is amazing.
Ayn Rand warned us.
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