Frankly I thought for the past few years that they put in too many new stores.
I wonder if the stores that did poorly suffered a lot of shoplifting?
A cartel led by the U.S. government bribed Walgreens, CVS, and .. with billions of dollars to promote Covid vaxxes and not fill prescriptions for ivermectin..
https://freerepublic.com/focus/f-chat/4239453/posts
“Frankly I thought for the past few years that they put in too many new stores.”
I don’t believe what the company said. Drug stores have hugely overpriced merchandise because the drug part of the business carries the store. There are several tax advantages to selling drugs, so the rest of the merchandise is there to complete the requirements to get the tax advantage. The business model has been to buy good locations in pricey areas and let the property appreciate for a potential later sale.
What the company is probably saying is, they are losing inventory to theft, or the property is going down in value or both. So, they’re dumping the property now rather than ride it down. Chances are they’re closing places in deep blue states where the homeless control the streets and it’s dangerous for the employees to come to work and to be in the building at all.
Also, there’s another perspective. How can a store of 1500 square feet with a couple thousand overpriced items compete with Walmart or Target for those same items? Nothing they do with their prices will make a hill of beans difference. The company is lying so they don’t face a political $hitstorm by leaving bad areas because they’re bad areas. “Oh, no, no. There’s nothing wrong with the liberal politics. It’s just due to uhm...prices. Yeah, that’s the ticket. Prices. Sure.”
There are three Walgreen's stores within 15 minutes from my house.
A new brand pharmacy at every corner didn’t work?
Who knew?