Walgreens Boots Alliance plans to close 1,200 stores during the next three years, with 500 closures set for next year, in the face of low drug reimbursement rates and slower consumer spending.
The Deerfield, Illinois-based company on Tuesday said it would shutter roughly 14% of its U.S. locations and redeploy the majority of the workers impacted. “We are in a turnaround,” Tim Wentworth, the drugstore chain’s CEO, told an earnings call.
“The closure of so many stores is emblematic of a company that is in trouble and is trying to course correct,” commented Neil Saunders, managing director of GlobalData. “Walgreens spent years building its business through acquisitions and completely neglected the fundamentals of its stores and its retail operations,” the analyst added.
There are 5 walgreens in a 1.5 mi radius near me. That doesn’t seem smart.
Mine keep candy to soap behind glass like some kind of museum. Plus they now play classical music out front.
The thing is that CVS was expanding their area of operation in the early. 2000s and Walgreens had enough of a war chest to just build stores like crazy to try and take the spots CVS would want to use or choke CVS out.
So we ended up with Walgreens everywhere and sometimes a Walgreens across the street from a CVS.
CVS isn’t doing so hot in their retail spaces and closing stores, so Walgreens can relax and close down stores.
I know not everyone has this option, but we recently switched to a local pharmacy. It’s awesome. Scripts are always ready. Never a line. The pharmacist actually comes over and talks about side effects.
I picked up multiple prescriptions for my wife over a period of a week for some shit she was going through and they actually went as far as asking if she’s going ok.
Flu and COVID vaccines are walk-in, no appointment, and you can choose between Moderna and Pfizer.
Compared to the chains around me it’s amazingly better. Worth the extra few minutes in the car.
I have been thinking of doing that but I’m worried a more local mom n pop store is going to be conservative and give me shit about my hrt.
I’m in a rural area, and the only pharmacy is locally owned and I love it. Usually in and out, and like you I can get covid and flu shots there. Sure, they don’t sell orange juice and lawn chairs there, but there’s a Family Dollar next door.
Walgreens overcharges like hell for their meds. My meds would be around $400/mo through them. At a mail order pharmacy it’s $10. Same insurance.
The walgreens by my house is a fucking nightmare. 2 lane drive through pharmacy, .75 to 1.5 hour wait time. All the otc meds are WAY overpriced along with everything else in the that hell hole. Honestly fuck em and I’m glad they are losing business
I know in some cities Walgreens and CVS are maybe not terrible stores because they are close and you can walk there and pick up maybe a few groceries on the way back from work.
But in a more sprawling city where you have to drive everywhere, I’ve never once opted to buy anything from Walgreens over another store simply because the prices there are outrageous. I only go to my closest Walgreens for vaccinations.
Plus the stores (both Walgreens and CVS) often are kinda messy as hell. And I don’t even blame the workers that much. It seems like at any given time there’s MAYBE one to two people working there outside of the pharmacy.
It’s basically a high priced Dollar Store.
