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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 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.

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