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#walgreens

1 post1 participant0 posts today
Public
Miguel Afonso Caetano

"The trends for Walgreens aren’t good - it has closed a thousand stores since 2018, and plans to shut 1,200 more this year. And if you look at the gross operating income of the U.S. retail segment, it is collapsing.

I put these charts together based on data in Walgreen’s annual reports.
What’s going on? Well that’s simple. Margins are falling apart.

Galloway and Elson went back and forth on why Walgreens is flailing. The company hasn’t modernized in the age of Amazon. It has too many stores. Bad management. A dumb acquisition of VillageMD in 2021. Etc. And these would seem like reasonable causes, since lots of other retailers are dying in the face of low price competition.

But the real reason Walgreens, and the pharmacy business in general, is dying, is because of a failure to enforce antitrust laws against unfair business methods and illegal mergers. Elson touched on it when he mentioned lower reimbursement rates, but I don’t think people appreciate the full scope of what happened to Walgreens, and to the full pharmacy business in general. This is not a case of bad management, it’s a case of desperate management."

thebignewsletter.com/p/the-rea

BIG by Matt Stoller · The Real Reason Walgreens CollapsedBy Matt Stoller
#USA#Walgreens#Monopolies
Public
Dennis A

#Walgreens
This is not going to be good. Let's see if we can make the already bad horrible.

Walgreens agrees to be acquired by private equity firm for almost $10 billion

"Walgreens Boots Alliance says it has agreed to be acquired by the private equity firm Sycamore Partners as the struggling retailer looks to turn itself around after years of losing money."
apnews.com/article/walgreens-b

A sign for Walgreens Pharmacy is shown on June 25, 2019, in Pittsburgh. (AP Photo/Gene J. Puskar, File)
AP News · Walgreens agrees to be acquired by private equity firm for almost $10 billionBy Associated Press
Replied in thread
Public *
sgt1372

@jeridansky This doesn't really affect anyone who shops at #Walgreens, except those who's local stores are closed in further cost cutting efforts by the new owner.

The prior closing of Walgreens stores was already a tip off at how poorly Walgreens has been doing.

Theft has been blamed for many of the closings in SF (which was & still is a problem) but, fact is, Walgreens already had too many stores in SF & has opened too many stores across the country. 🤷‍♂️

Replied to David Chartier
Public
Tanquist

@chartier
I would say further enshittify.
I guess allowing clerks to publicly shame women for buying condoms, deciding pharmacists' religious objections are more important than a customer's need for medication, and hiding refrigerated items behind crappy "smart" screens were not all that profitable.
#Walgreens

Continued thread
Public *
Jenny

👉 More companies* that (so far) are rejecting FOTUS’s hateful anti-#DEI directives:

#Kroger
#ELF
#Walgreens
#BenAndJerrys
#Ulta
#OldNavy
#Macys
#Nordstrom
#JPMorgan
#Apple
#TJMaxx
#Delta
#Nike
#Microsoft
#Adobe
#Pinterest

👉 Companies that are COMPLYING with anti-DEI directives:

#Target
#Walmart
#Meta
#McDonalds
#Amazon
#HarleyDavidson
#Lowes
#HomeDepot
#JohnDeere

(sources in comment below)

*yes I know some of these companies suck for other reasons. That’s not the point of this post.

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