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Posted on 10/15/2024 7:35:33 AM PDT by ChicagoConservative27
National drugstore giant Walgreens will shutter some 1,200 locations over the next three years as it seeks to stem a $3 billion quarterly loss across its businesses generated by a sluggish U.S. economy.
The company forecast about 500 store closures will come in the current fiscal year and should immediately support adjusted earnings and free cash flow, AP reports.
Walgreens didn’t say where the store closings would take place.
Its shares jumped 5.4 percent to $9.50 in premarket trading on the back of the news, Reuters reports.
(Excerpt) Read more at breitbart.com ...
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Walmart should but Walgreens, then they could sell their stuff and pharmaceuticals in neighborhood places instead of giant super stores that get so crowded at times it’s like Grand Central Station at 5pm..................
“ sluggish U.S. economy.”
Huh? Can’t be! It’s the greatest ever!
Great timing for the Walgreens announcement! Coincidence?
Trumps fault
Of course they are. My 2 sons manage WGs in MN and TX but their stores should be ok. I like my employee discount.
Most of the Walgreens i see in Florida have converted half of the stores into a jab office.
Not a bad idea, but they likely would be shoplifted blind
How many will be in blue cities and blue suburbs?
Just about all of them
IMO. CVS and Walgreens are both working on bad models...
Do better on being a Pharmacy, because in my experience, you really stink at at.
By and large, people get their scripts from you. Because our insurance company mandates where we have to go.
If we had a choice, we’d go elsewhere.
Has anyone the eyes to see? Look around, businesses closing nationally, hallmark American companies going down the tubes in droves ( Boeing laying off 17,000 an example), banks in big trouble, credit drying up, historic debt, out of control inflation, severely weakened military, and a decaying society.
All the signs of a dying country. Thanks Joe, your mission has been accomplished….and it could never have been accomplished without our widespread departure from God…..Judgement? Or just God removing his blessings ( correction)? We shall see.
Drugstores have been going broke for over a decade. Way too many of them. I can’t remember the last time I went into a stand-alone drugstore. Everything in them is in my grocery store.
Our local Walgreens was originally a fun place to shop, with “As Seen On TV” items and loads of toys and impulse items, and a large variety of candy and wine. It was where locals would buy their candies and other itmes for the holidays. Then they took a chunk out for a clinic, which is now empty.
Now it’s a sterile, boring place like CVS.
Where I live, there are not enough pharmacies with all the retirees that have moved in. Wait times and shortages continue to increase.
You used to be able to find cool stuff there that Wal-Mart didn’t have - especially the seasonal trinkets. Now not so much. I remember several Christmas dinners being saved by Walgreens because they were the only place open.
Exactly.
I used to go there even when I didn’t have something in mind to buy. Our kids growing up would love walking over to Walgreens to get candy.
That is everything WRONG with Walgreens/ CVS.
They make money on drugs. Just about everything else is an add on. Those add ons take up tons of space and don’t generally generate the revenue.
The clinics are a huge win. Flu, covid, shingles, etc. You don’t have to go to an MD. it is generally on your schedule, and you can’t get a shot via amazon or mail order.
Near instant home perscription delivery, Amazon, Walmart and others, once up to speed will destroy these places.
You walk past all those addons on your way to the pharmacy deep in the corner of the store. While you are talking to the pharmacist or waiting in line, your kids are finding things they want to buy.
The clinic was right at the enterance of the store, a very poor location. And now it’s empty.
I suppose the Walmart Market Place that opened across the street didn’t help them.
Walgreens also made a lot bucks on liquor, tobacco, and lottery tickets.
Uh, lemme take a wild guess: along the various iterations of MLK Blvd in various municipalities?
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