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The New Coffee Room

  1. TNCR
  2. General Discussion
  3. Closing

Closing

Scheduled Pinned Locked Moved General Discussion
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  • George KG Offline
    George KG Offline
    George K
    wrote on last edited by
    #3

    Related:

    https://www.nbcnews.com/business/business-news/walgreens-close-1200-stores-three-years-rcna175451

    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 yield significant financial and consumer benefits over the long term,” Wentworth said.

    In June, Walgreens said it planned to close a “significant” number of its underperforming stores by 2027. Tuesday’s announcement appears to be the company’s first exact estimate of how many locations it will shutter.

    Bidenomics, FTW!

    "Now look here, you Baltic gas passer... " - Mik, 6/14/08

    The saying, "Lite is just one damn thing after another," is a gross understatement. The damn things overlap.

    ? 1 Reply Last reply
    • HoraceH Online
      HoraceH Online
      Horace
      wrote on last edited by
      #4

      Kamalanomics rolls off the tongue well.

      Education is extremely important.

      1 Reply Last reply
      • MikM Offline
        MikM Offline
        Mik
        wrote on last edited by
        #5

        "Changing consumer behavior" I assume includes community level theft.

        89th, 7-11's used to be far more prevalent in Ohio. They're pretty much gone now.

        “I am fond of pigs. Dogs look up to us. Cats look down on us. Pigs treat us as equals.” ~Winston S. Churchill

        1 Reply Last reply
        • HoraceH Online
          HoraceH Online
          Horace
          wrote on last edited by
          #6

          Japanese 7-11s are legendary for their delicious prepared food. In america we get the chicken salad or egg salad triangle sandwiches, but in Japan the shelves are lined with culinary gold.

          Education is extremely important.

          1 Reply Last reply
          • X Offline
            X Offline
            xenon
            wrote on last edited by
            #7

            Agreed - 7-11 still sells 90s food.

            I dunno if they could have credibly shifted from a slurpee and rotating hot dog seller…. Still

            1 Reply Last reply
            • JollyJ Offline
              JollyJ Offline
              Jolly
              wrote on last edited by
              #8

              CVS is in worse shape than Walgreen's...

              “Cry havoc and let slip the DOGE of war!”

              Those who cheered as J-6 American prisoners were locked in solitary for 18 months without trial, now suddenly fight tooth and nail for foreign terrorists’ "due process". — Buck Sexton

              jon-nycJ 1 Reply Last reply
              • MikM Offline
                MikM Offline
                Mik
                wrote on last edited by
                #9

                Yeah, but Walgreen's is struggling. I get emails from them almost daily trying to get me to shop there. I never do. Just prescriptions and vaccines.

                “I am fond of pigs. Dogs look up to us. Cats look down on us. Pigs treat us as equals.” ~Winston S. Churchill

                1 Reply Last reply
                • 89th8 Online
                  89th8 Online
                  89th
                  wrote on last edited by
                  #10

                  I use Walgreens only for photos, and boy that would be a shame if that service ends. Photos prints are quality, cheap, and the app is very easy to use.

                  JollyJ 1 Reply Last reply
                  • George KG George K

                    Related:

                    https://www.nbcnews.com/business/business-news/walgreens-close-1200-stores-three-years-rcna175451

                    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 yield significant financial and consumer benefits over the long term,” Wentworth said.

                    In June, Walgreens said it planned to close a “significant” number of its underperforming stores by 2027. Tuesday’s announcement appears to be the company’s first exact estimate of how many locations it will shutter.

                    Bidenomics, FTW!

                    ? Offline
                    ? Offline
                    A Former User
                    wrote on last edited by A Former User
                    #11

                    @George-K said in Closing:

                    Related:

                    https://www.nbcnews.com/business/business-news/walgreens-close-1200-stores-three-years-rcna175451

                    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 yield significant financial and consumer benefits over the long term,” Wentworth said.

                    In June, Walgreens said it planned to close a “significant” number of its underperforming stores by 2027. Tuesday’s announcement appears to be the company’s first exact estimate of how many locations it will shutter.

                    Bidenomics, FTW!

                    Unsustainable business model.

                    I'm surprised it took this long. They've saturated the area with stores - there's one on every corner (I can think of six within a ten minute drive of my house) and they're way more expensive than the competition. Customer service is lousy; it's almost impossible to find someone to help you.

                    Recent example..Mr wtg had knee replacement surgery and I was looking for some Mederma scar gel. Checked four stores.

                    Target - $16.89
                    Walmart - $18.12
                    Mariano's (local Kroger grocery located next door to Walgreens) - $21.99
                    Walgreens - $24.99

                    Found this to be the case all during COVID when I was looking for OTC meds, etc.

                    89th8 1 Reply Last reply
                    • ? A Former User

                      @George-K said in Closing:

                      Related:

                      https://www.nbcnews.com/business/business-news/walgreens-close-1200-stores-three-years-rcna175451

                      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 yield significant financial and consumer benefits over the long term,” Wentworth said.

                      In June, Walgreens said it planned to close a “significant” number of its underperforming stores by 2027. Tuesday’s announcement appears to be the company’s first exact estimate of how many locations it will shutter.

                      Bidenomics, FTW!

                      Unsustainable business model.

                      I'm surprised it took this long. They've saturated the area with stores - there's one on every corner (I can think of six within a ten minute drive of my house) and they're way more expensive than the competition. Customer service is lousy; it's almost impossible to find someone to help you.

                      Recent example..Mr wtg had knee replacement surgery and I was looking for some Mederma scar gel. Checked four stores.

                      Target - $16.89
                      Walmart - $18.12
                      Mariano's (local Kroger grocery located next door to Walgreens) - $21.99
                      Walgreens - $24.99

                      Found this to be the case all during COVID when I was looking for OTC meds, etc.

                      89th8 Online
                      89th8 Online
                      89th
                      wrote on last edited by
                      #12

                      @wtg said in Closing:

                      and they're way more expensive than the competition. Customer service is lousy; it's almost impossible to find someone to help you.

                      Yeah good points. It's like they cut costs by having minimal staff (it always seems like there's one employee there) and all the products cost much more than competition, I had the same experience as you when I was trying to find a shoe insert... $15 most places, $24 at Walgreens. It is a tough business model... then again, they often have medical/care related goods that you can't find in most big box stores. I'm hoping the one near me doesn't close.

                      1 Reply Last reply
                      • Doctor PhibesD Offline
                        Doctor PhibesD Offline
                        Doctor Phibes
                        wrote on last edited by Doctor Phibes
                        #13

                        I can't remember the last time I went in any of these stores. We get prescriptions from Stop & Shop who are way better than either CVS or Walgreens. There's a small local privately owned corner shop I use if we want something from around the corner.

                        I was only joking

                        1 Reply Last reply
                        • George KG Offline
                          George KG Offline
                          George K
                          wrote on last edited by
                          #14

                          Near where I live, I can't swing a dead cat by the tail without hitting at least 3-4 Walgreens.

                          "Now look here, you Baltic gas passer... " - Mik, 6/14/08

                          The saying, "Lite is just one damn thing after another," is a gross understatement. The damn things overlap.

                          1 Reply Last reply
                          • 89th8 89th

                            I use Walgreens only for photos, and boy that would be a shame if that service ends. Photos prints are quality, cheap, and the app is very easy to use.

                            JollyJ Offline
                            JollyJ Offline
                            Jolly
                            wrote on last edited by
                            #15

                            @89th said in Closing:

                            I use Walgreens only for photos, and boy that would be a shame if that service ends. Photos prints are quality, cheap, and the app is very easy to use.

                            I think Consumers Report rated them #1 among the chains for photo finishing.

                            I use them and have been pleased...

                            “Cry havoc and let slip the DOGE of war!”

                            Those who cheered as J-6 American prisoners were locked in solitary for 18 months without trial, now suddenly fight tooth and nail for foreign terrorists’ "due process". — Buck Sexton

                            1 Reply Last reply
                            • JollyJ Jolly

                              CVS is in worse shape than Walgreen's...

                              jon-nycJ Online
                              jon-nycJ Online
                              jon-nyc
                              wrote on last edited by
                              #16

                              @Jolly said in Closing:

                              CVS is in worse shape than Walgreen's...

                              Is it really? I knew Walgreens was going to close a bunch of stores. I hadn’t heard about CVS.

                              Only non-witches get due process.

                              • Cotton Mather, Salem Massachusetts, 1692
                              JollyJ 1 Reply Last reply
                              • jon-nycJ jon-nyc

                                @Jolly said in Closing:

                                CVS is in worse shape than Walgreen's...

                                Is it really? I knew Walgreens was going to close a bunch of stores. I hadn’t heard about CVS.

                                JollyJ Offline
                                JollyJ Offline
                                Jolly
                                wrote on last edited by
                                #17

                                @jon-nyc said in Closing:

                                @Jolly said in Closing:

                                CVS is in worse shape than Walgreen's...

                                Is it really? I knew Walgreens was going to close a bunch of stores. I hadn’t heard about CVS.

                                Talking about breaking it up...

                                https://www.google.com/amp/s/www.cnbc.com/amp/2024/10/04/cvs-is-considering-a-break-up-heres-why-that-could-be-risky.html

                                “Cry havoc and let slip the DOGE of war!”

                                Those who cheered as J-6 American prisoners were locked in solitary for 18 months without trial, now suddenly fight tooth and nail for foreign terrorists’ "due process". — Buck Sexton

                                1 Reply Last reply
                                • jon-nycJ Online
                                  jon-nycJ Online
                                  jon-nyc
                                  wrote on last edited by
                                  #18

                                  They were really focused on inter-divisional synergies when I talked to them a year ago. It’s a way for them to justify all the M&A by showing the whole is greater than the sum of its parts.

                                  We brought them an idea of using the retail pharmacy to boost their speciality pharmacy business. Basically use info from the retail side to find people with AATD, each of which could potentially bring 150k annually in top line revenue for CVS specialty.

                                  In the end their lawyers killed the idea because the in-home test we were proposing had big pharma branding.

                                  Only non-witches get due process.

                                  • Cotton Mather, Salem Massachusetts, 1692
                                  1 Reply Last reply
                                  • JollyJ Offline
                                    JollyJ Offline
                                    Jolly
                                    wrote on last edited by
                                    #19

                                    Sad.

                                    “Cry havoc and let slip the DOGE of war!”

                                    Those who cheered as J-6 American prisoners were locked in solitary for 18 months without trial, now suddenly fight tooth and nail for foreign terrorists’ "due process". — Buck Sexton

                                    1 Reply Last reply
                                    • 89th8 89th

                                      Growing up in Virginia I thought 7-11s were nationwide since they're so ubiquitous in the mid-Atlantic. Now in Minnesota, I'm just glad I found a gas station (Speedway) that I guess is a 7-11 partner since they have slurpees.

                                      image.png

                                      taiwan_girlT Online
                                      taiwan_girlT Online
                                      taiwan_girl
                                      wrote on last edited by
                                      #20

                                      @89th said in Closing:

                                      Growing up in Virginia I thought 7-11s were nationwide since they're so ubiquitous in the mid-Atlantic.

                                      In Taiwan, there are so so many also. More than 5000 in a country that is not too much bigger than Vermont. But 7-11 Taiwan has the best steamed buns (and tea eggs)!

                                      (Japan has over 21,000 7-11's)

                                      AxtremusA 1 Reply Last reply
                                      • taiwan_girlT taiwan_girl

                                        @89th said in Closing:

                                        Growing up in Virginia I thought 7-11s were nationwide since they're so ubiquitous in the mid-Atlantic.

                                        In Taiwan, there are so so many also. More than 5000 in a country that is not too much bigger than Vermont. But 7-11 Taiwan has the best steamed buns (and tea eggs)!

                                        (Japan has over 21,000 7-11's)

                                        AxtremusA Away
                                        AxtremusA Away
                                        Axtremus
                                        wrote on last edited by
                                        #21

                                        @taiwan_girl said in Closing:

                                        (Japan has over 21,000 7-11's)

                                        In Japan's 7-11s they have fish ball skewers dunked in curry. 😋

                                        taiwan_girlT 1 Reply Last reply
                                        • AxtremusA Axtremus

                                          @taiwan_girl said in Closing:

                                          (Japan has over 21,000 7-11's)

                                          In Japan's 7-11s they have fish ball skewers dunked in curry. 😋

                                          taiwan_girlT Online
                                          taiwan_girlT Online
                                          taiwan_girl
                                          wrote on last edited by
                                          #22

                                          @Axtremus said in Closing:

                                          @taiwan_girl said in Closing:

                                          (Japan has over 21,000 7-11's)

                                          In Japan's 7-11s they have fish ball skewers dunked in curry. 😋

                                          I will have to try them. LOL. Going to Japan in a couple of months.

                                          1 Reply Last reply
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