Many people who still do take medications are also filling their prescriptions online rather than visiting Walgreens stores in person.
CVS, Rite Aid also closing stores The entire pharmacy sector is struggling to survive for many of the same reasons which explains why competitor chains CVS and Rite Aid are similarly shutting down stores and tightening the financial noose.
Though Wentworth did not reveal the exact number of stores his company is planning to close, he did use the word "Significant" to describe it while warning that there could be even more store closures than planned if the economy and consumer purchasing habits continue on their current trajectory.
About 75 percent of Walgreens stores account for 100 percent of its operating income.
After Walgreens shuts down 25 percent of its stores, Wentworth says the remaining locations could see profit boosts that at least somewhat make up for the loss.
As for the company's employees, his hope is that the store closures will not result in "a meaningful loss of jobs." "Approximately 25 percent of Walgreens stores are not contributing to our long-term strategy," a company representative told Good Housekeeping.
"The few times I go in the store to pick up a prescription I'm usually the only one in place," one added about how dead the stores usually are.
No comments:
Post a Comment