I’m not terribly shocked listening to the information that Walgreens is closing 2,150 shops out of 8,600 places within the USA. Yup, your native Walgreens could also be underneath the chopping block. In accordance with reviews, the closures are resulting from underperforming shops. They intention to shut shops which may be battling heavy theft or these which might be underperforming in gross sales. The kicker? They stated they’ll contemplate closing much more shops if issues don’t enhance. Walgreens shares fell 20% and inflation has taken a giant chew out of their common line of enterprise in addition to pharmacy gross sales.
Walgreens reps talk about how buyers have been choice and price-sensitive about their purchases. This irony is considerably humorous contemplating how bloated the costs are at each Walgreens and CVS. I should purchase some deo at Goal for say $4.99 and I’m going to my native Walgreens and it’s like $7.99. Walgreens costs are insane to me on on a regular basis necessities like toothpaste, deo, physique wash, and so forth…! And let’s not talk about the make-up costs. Sure, there are many gross sales and coupons however if you’re operating low on bathroom paper or deo and wish it instantly shelling out for it at Walgreens simply isn’t it. Confession time however I haven’t shopped magnificence and even necessities at Walgreens and CVS in ages. And I’m not on any meds so want to make use of their pharmacy and even after I do want a z pack when I’ve a chilly I usually head to my native pharmacy as not solely is the service higher however I’m serving to a small enterprise.
Apparently again in Could Walgreens slashed costs on over a 1,000 objects to entice buyers into the shop. I’m undecided precisely what these objects are however in case you store there to shout out within the feedback in case you observed issues being a bit cheaper at your retailer. However in doing this Walgreens has said it hurts their profitability. With a view to achieve earnings they said they’d be eradicating eight nationwide manufacturers and changing these manufacturers with their very own home manufacturers. They didn’t particularly state which manufacturers however solely stated they’d be ones within the well being and wellness classes. Name a snob however I don’t at all times like home manufacturers as really feel like they aren’t the identical as model names. Don’t get me flawed some are good however many aren’t so nice.
As I stated above Walgreens closing all these shops comes as no nice shock. I believe their costs are grossly excessive in comparison with different shops particularly within the magnificence division (Sorry, however I’m not paying close to $15 or extra for drugstore mascara!). Everybody needs an excellent deal and Walgreens is unfortunately, not the place you’ll discover it.
What do you consider Walgreens closings?
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