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On a conference call with industry analysts on Thursday, Walgreens CEO Tim Wentworth announced the company’s intention to eliminate a significant portion of its U.S. stores over the next three years. While describing a quarter of the 8,500 stores as “underperforming,” Wentworth announced that the company would close a “significant portion” of these locations. However, according to Wentworth, the precise number of closures is still undecided. Wentworth also stated that Walgreens will implement certain modifications at the remaining underperforming locations in an effort to bring them back to life. If that doesn’t work, then “we will continue to consider closure...

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...

BEIJING/FRANKFURT (Reuters) -Tesla has cut prices in a number of its major markets, including China and Germany, following price cuts in the United States, as it grapples with falling sales and an intensifying price war for electric vehicles (EVs), especially against Chinese EVs. The price cuts come after Tesla, led by its billionaire CEO Elon Musk, reported this month that its global vehicle deliveries in the first quarter fell for the first time in nearly four years. "Tesla prices must change frequently in order to match production with demand," Musk posted on X on Sunday. Tesla, the EV market leader,...

Albertsons will announce a plan Wednesday to lower prices for thousands of goods at its 222 Southern California supermarkets. The initiative is aimed at regaining budget-minded customers lost to discounters such as Wal-Mart Stores Inc. and Target Corp. It also comes at a time when Southern California supermarkets, including grocery giants Ralphs and Vons, are moving to compete more fiercely on prices. The chains "are trying to get people back in the stores," said Simeon Gutman, a New York-based analyst at Canaccord Adams, a financial firm with headquarters in Vancouver.

DETROIT – How bad are things around the Motor City? So bad that even Jon Jon's Cabaret is offering half-off deals. The topless club in the suburb of Warren – where General Motors and Chrysler employ upwards of 20,000 people – cut the cost of a table dance in half, from $20 to $10, in mid-November. The dancer gets all the money plus any tips, while food and drinks generate the club's income, general manager Kelly Sander said Tuesday. Jon Jon's has lowered prices on drinks, but business is still down 50 percent from a year ago, Sander said. She...