Posted on 05/31/2024 7:51:47 AM PDT by Paul46360
DEERFIELD, Ill. - Walgreens is lowering prices on hundreds of products this summer, joining other retailers like Target, Walmart, and Amazon who have announced similar promotions in an effort to lure in more cost-conscious shoppers.
The company on Wednesday announced plans to cut prices "on more than 1,300 national and store-brand products across health and wellness, personal care and seasonal categories."
In an attempt to boost its loyalty program, Walgreens said it will also bring back its "myW Days" in mid-July – a deal offering exclusive promotions for myWalgreens members.
Global Chief Financial Officer Manmohan Mahajan told analysts during a second quarter earnings call that it's still in the midst of a challenging retail environment as there is a continued "shift in discretionary spend away from the drug channel as consumers seek value."
Sales at retail stores open at least a year declined 4.3% in the quarter.
Target, Walmart, others also attempt to lure customers with sales To boost profits, Walgreens is taking a page from retail behemoths Walmart and Target as well as grocers Aldi and Amazon Fresh who have been announcing promotions in recent weeks in a bid to pull in shoppers amid high inflation, which has fallen considerably from a peak of 9.1% notched during June 2022.
Prices are still up 19.4% since January 2021, before the inflation crisis began.
Walmart U.S. CEO John Furner told analysts during an earnings call that the company has almost 7,000 rollbacks, which refers to temporary price reductions on goods.
Target also announced it was cutting prices on 5,000 popular products.
Both major retailers acknowledged that consumers are still feeling the pinch, with Target executives noting how one in three Americans are maxing out their credit cards.
Earlier this month, Aldi said it was passing along $100 million in savings by slashing prices on more than 250 items through Labor Day,while Amazon Fresh said U.S. customers can save 30% on 4,000 weekly rotating grocery items every day.
Preparation H half price
Sounds like Fascism.
Bastards
Smells like it
Or was this orchestrated by the Biden admin to secure their re-election?
Wright!
Whoa - prices went up, retail sales went down? That’s just astonishing! Target in particular has learned the reality of Get Woke, Go Broke, which is part of it. But the fact is that people with maxed-out credit cards have to economize - think of them as personal loans at a 20% rate and all of a sudden Vito The Loanshark looks like an amateur.
In an attempt to affect the November election, Walgreens, Walmart, and Target have chosen to TEMPORARILY reduce prices, which will return to their all-time highs shortly after votes are re-re-re-counted.
"THIS will be used by Biden admin to PROVE that the economy is on the rebound"
FR: Never Accept the Premise of Your Opponent’s Argument
Pro-Biden stores need to show pre-Biden prices next to their price cuts on price tags.
I don’t think there’s a store left with enough people working there, especially on checkout.
Except our local Ace hardware store. I always get help there the moment I walk in.
The rest of the plaza has an independent toy store and up until covid HAD a nice Italian restaurant.
When you walk into his hardware store there is always an employee to help you. Some have worked there for twenty years or more.
Sounds like our Ace owner. He is always there…works long hours and I’m sure there is lots of after-hours work after the store closes. The place is packed floor to ceiling. They are happy to order anything you need. And lots of long-time employees like yours, too.
People can’t afford the Bidenflation.
Yet more proof that people are struggling.
The crazy thing is it is literally the only hardware store left around here. All the others have gone out of business because of Home Depot and Lowes.
Same here. Ace is only a mile away in town, but the big box stores are 7 - 15 miles away.
We’ve got one lumber yard left after having had 3 good ones here 40 years ago. Now there’s one mom & pop independent lumber yard left. Fortunately it’s a good one.
Coeur d’Alene Builders Supply is a good independent company.
Badger Building in Post Falls is another good independent owner by TAL Corp.
Builder First Source is the biggest contractor yard in the country.
Ziggy’s is also pretty good.
They are all close to you.
Big corporations support the inexhaustible supply of cheap, exploitable labor aka open borders. During Covid, these stores remained open while small businesses were closed. Money talks.
I’m addicted to sugar-free myself (Diet Coke or one of their other no-sugar offerings) but still manage to buy cartons with the per-can cost being 0.50 or less. 35 cents in a particularly good sale just recently.
Yep, I’ve shopped at all of them. And Gibb’s Lumber, too.
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