Free Republic

Walgreens has agreed to pay up to $350 million in a settlement with the DOJ, which accused the pharmacy giant of knowingly filling millions of invalid prescriptions for opioids and other controlled substances, and submitting false claims to the federal government.

Struggling drugstore chain Walgreens is going private. The company on Thursday said it inked a deal with private equity firm Sycamore Partners that will take it off the public market for an equity value of around $10 billion. Sycamore will pay $11.45 per share in cash for Walgreens, representing a roughly 8% premium to the stock’s closing price on Thursday. Shareholders could also receive up to $3 more per share in the future from sales of Walgreens’ primary-care businesses, including Village Medical, Summit Health and CityMD. Walgreens said the total value of the transaction would be up to $23.7 billion...

In a civil complaint filed yesterday in the U.S. District Court for the Northern District of Illinois, the Justice Department alleges that Walgreens Boots Alliance, Walgreen Co. and various subsidiaries (collectively, Walgreens) dispensed millions of unlawful prescriptions in violation of the Controlled Substances Act (CSA) and then sought reimbursement for many of these prescriptions from various federal health care programs in violation the False Claims Act (FCA). Walgreens is one of the country’s largest pharmacy chains, with over 8,000 pharmacies across the United States.“This lawsuit seeks to hold Walgreens accountable for the many years that it failed to meet its...

Walgreens' CEO has admitted that locking up items to avoid shoplifting has not worked - and it will close stores instead. Not only has the practice not curbed theft, it has dramatically hit sales. Over the past few years, major retailers like Walgreens, CVS, Walmart, and Target have increasingly resorted to locking up everyday items such as toothbrushes, deodorant, laundry detergent, coffee, and even milk. The practice has sparked customer frustration, with many complaining about the inconvenience of waiting for an employee to unlock basic necessities. During an earnings call on Friday, Walgreens CEO Tim Wentworth made a startling admission....

Walgreens Boots Alliance, the parent company of British retailer Boots, has seen its stock decline during a turbulent week after facing backlash over its allegedly "woke" Christmas advert. The stock closed Friday at $8.48, down 3.75 percent from Thursday, continuing a broader downward trend. Walgreens-Boots shares are down 66 percent over the past year and trading at their lowest since 1996. Last week, Boots stirred conservative anger after releasing its Christmas commercial featuring actor Adjoa Andoh as Mrs. Claus and a scene referencing gender-inclusive pronouns, where Mrs. Claus uses they/them pronouns when referring to one gift recipient. Newsweek has contacted...

Walgreens Closes NYC Stores… Because of Theft Cash Jordan 1.05M subscribers 260,719 views Nov 3, 2024 Walgreens is quietly shutting down multiple NYC stores that are "underperforming" for multiple reasons cited by the brand including unsustainable losses from retail theft, combined with lower consumer spending & lower profit from prescriptions.

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.

Walgreens said Tuesday it plans to close 1,200 stores over the next three years as it seeks to further downsize its footprint amid flagging sales and changing consumer behavior. The pharmacy chain said 500 of the closings would occur over the next 12 months. It estimates a quarter of its 8,700 stores in the U.S. are unprofitable. Walgreens announced the closures as part of its fiscal fourth-quarter and full-year earnings, which beat Wall Street's expectations. In a statement, CEO Tim Wentworth acknowledged the company was in the midst of a "turnaround" that would "take time." "We are confident it will...

This seems like a scam: I received an e-mail stating "Greetings myWaIgreens Member,Your myWaIgreens points total of $564.54 is set to expire and should be redeemed by September 9th.Click here before September 9th to retain your myWaIgreens points for 2024.We appreciate your participation.Best wishes, WaIgreens TeamSuspicious, eh?

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. .... 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...

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...

Walgreens announced on Wednesday it is lowering prices on more than one thousand national and store brand items, the news coming as corporations are apparently trying to battle inflation in President Joe Biden’s America. The pharmacy store chain is cutting prices, along with Walmart, Target, Aldi, and Amazon Fresh, according to Fox 5. “Unfortunately, the price cuts on shelves at large retailers are unlikely to reduce inflation, which is now largely driven by price increases in the services side of the economy,” stated Breitbart News’s John Carney. “Core goods prices, which exclude food and energy prices, fell in April both...

New York City is losing drugstores as retail theft continues to surge. Gotham has logged 21,578 shoplifting complaints this year through May 12, up 5% from the 20,552 thefts during the same period last year. Manhattan has seen 8,896 incidents of retail theft alone. Crime is so rampant, national chains like Target, CVS and Walgreens are closing locations and tempering expansion plans. Target announced at the end of last year the closure of nine stores across four states, including one in Harlem, due to theft.

Florida is taking a strong stand against retail theft and “porch piracy.” Gov. Ron DeSantis on Tuesday signed into law a bill that would crack down on criminals participating in shoplifting rings and engaging in other types of property crime. While doing so, he took some shots at California and New York for going easy on those committing these offenses. Amid widespread retail theft occurring across the nation, state and local governments are grappling with putting a stop to these operations while others are simply responding with a shrug. In a post on X, formerly known as Twitter, DeSantis announced...

As it moves to an online strategy amid rampant increase in shoplifting CVS is making drastic reforms to adjust to the needs of modern online shoppers Rival Walgreens also plans to shut 150 stores as part of a modernization drive CVS is set to close hundreds of stores across the country as they undergo a complete retail overhaul – as more stores move towards online sellers amid rampant increases in crime. The major drugstore chain has announced that they will be culling 300 stores by the end of 2024, and 600 more by 2027, around ten percent of all shops....

A pregnant Walgreens employee wasn’t allowed to leave work to see her doctor when she began spotting blood, according to a newly settled federal lawsuit. Her manager refused to let her go until someone could fill in for her — but then said “she could not find a replacement for her” at the store in Alexandria, Louisiana, the lawsuit filed by the U.S. Equal Employment Opportunity Commission says. Now, Walgreens has agreed to pay $205,000 to settle the lawsuit accusing the company of pregnancy and disability discrimination, the EEOC said in a March 15 news release. The company is required...

CNN - CVS and Walgreens said they’ve received certification to dispense mifepristone, a pill that’s part of a regimen for medication abortion, and will start making the medicine available in a limited number of states where it’s legal. CVS told CNN that it’ll begin filling prescriptions for mifepristone in Massachusetts and Rhode Island “in the weeks ahead” and plans to expand to more states, “where allowed by law, on a rolling basis.” Walgreens told CNN that it expects to start dispensing mifepristone within a week, “consistent with federal and state laws,” and is beginning in “select locations” in New York,...

WOKE Democrat Ayanna Pressley Blames Walgreens Closure On RACISM!

In December, Roxbury residents learned the Walgreens location on Warren Street would close its doors in January. It's the fourth Boston Walgreens to close in just over a year, all of which have been in predominately Black and Latino neighborhoods. For customers in those communities, the closures mean more than just losing a pharmacy — it may also mean decreased access to groceries, hygiene products and certain essential healthcare services. Today on The Common, Boston Globe Money, Power and Inequality Reporter Tiana Woodard explains how the closure of retail pharmacies further exacerbates healthcare disparities in the city and what options...