{"id":2284767,"date":"2024-06-27T16:24:01","date_gmt":"2024-06-27T20:24:01","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/walgreens-to-close-significant-share-of-its-roughly-8600-u-s-locations\/"},"modified":"2024-06-27T16:27:09","modified_gmt":"2024-06-27T20:27:09","slug":"walgreens-to-close-significant-share-of-its-roughly-8600-u-s-locations","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/walgreens-to-close-significant-share-of-its-roughly-8600-u-s-locations\/","title":{"rendered":"Walgreens to Close \u2018Significant Share\u2019 of Its Roughly 8,600 U.S. Locations"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"&quot;\"><div class=\"counts mashsbcount\">22<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fwalgreens-to-close-significant-share-of-its-roughly-8600-u-s-locations%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=2284767&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><p>Walgreens, a major U.S. pharmacy chain, plans to close a significant number of its 8,600 stores, as reported by The Wall Street Journal. The closures,\u2062 described by \u200cCEO Tim Wentworth as targeting \u2062underperforming\u200b locations, are part of a broader strategy to streamline operations. Wentworth, who took over \u200bas CEO in October, emphasized that retail pharmacy remains\u200b pivotal to Walgreens\u2019 future, \u200bthough some business \u2063aspects must evolve, \u2064including reduced investment in Village MD, a <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/biden-reverses-ban-on-sending-title-x-federal-funds-to-abortion-referring-clinics\/\" title=\"Biden Reverses Ban On Sending Title X Federal Funds To \u2018Abortion-Referring\u2019 Clinics\">primary care provider<\/a>.<\/p>\n<p>The CEO\u200b mentioned that store proximity and issues like theft\u2064 are factors influencing\u2063 the decision to close certain locations, with plans to work \u2064with cities on public\u2062 safety investments to \u2062keep some stores open. The chain aims to reassign staff from closed\u2062 stores to other locations,\u200c viewing \u2063the move as reducing physical presence rather than cutting jobs.<\/p>\n<p>Recently, Walgreens reported a 2.3% drop in year-over-year sales for\u200c stores open at least a year and anticipates lower full-year earnings for fiscal\u200d 2024, between $2.80 and $2.95 per\u2064 share, down from previous estimates. \u2062This revision followed a decline in <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wow-elizabeth-warren-jumps-into-the-gamestock-controversy-and-begs-sec-to-investigate-reddit-and-social-media\/\" title=\"Wow! Elizabeth Warren Jumps into the GameStock Controversy and Begs SEC to Investigate Reddit and Social Media\">share prices<\/a> by \u200dover\u2064 20%. Wentworth attributed the financial downturn \u200dto a tough operating environment, \u200bshrinking pharmacy \u2062margins, and consumer resistance to pricing, despite\u200c strategies to\u2063 enhance customer attraction through promotions.  <\/p>\n<p class=\"readmore\">\n    <button onclick=\"showReadMore()\" id=\"readmorebtn\">Read more&#8230;<\/button>\n<\/p>\n<hr id=\"line\">\n<span id=\"more\"><\/p>\n<header> <a href=\"https:\/\/www.westernjournal.com\/news\/\">  News <\/a>  <\/p>\n<h2>Massive U.S. Pharmacy Chain to Close &#8216;Significant Share&#8217; of Stores as Locations Struggle<\/h2>\n<p> <span> <\/p>\n<p><a href=\"https:\/\/www.westernjournal.com\/author\/russdavis\/\">  <\/a> <\/p>\n<p> <span>   By <a href=\"https:\/\/www.westernjournal.com\/author\/russdavis\/%20\"><span>Jack Davis<\/span><\/a> <\/span> <span>   June 27, 2024 at 12:38pm <\/span> <\/span>  <\/header>\n<section>\n<p>Walgreens will be closing what <a href=\"https:\/\/www.wsj.com\/health\/walgreens-plans-major-u-s-store-closures-0b04a96e?mod=hp_lead_pos10\" target=\"_blank\" rel=\"noopener\">The Wall Street Journal<\/a> reports will be a \u201csignificant share\u201d of its approximately 8,600 U.S. stores.<\/p>\n<p>The Journal report, from an interview with Walgreens Boots Alliance Chief Executive Officer Tim Wentworth, quoted Wentworth as saying Walgreens would close a \u201cmeaningful percent\u201d of underperforming stores over the next several years.<\/p>\n<p>Wentworth indicated <a href=\"https:\/\/www.westernjournal.com\/sf-walgreens-infamous-padlocking-frozen-foods-now-putting-chewing-gum-lock-key\/\" target=\"_blank\" rel=\"noopener\">Walgreens<\/a> will also be reducing its investment in Village MD, a primary care provider.<\/p>\n<p>\u201cWe recognize where we are is a turnaround,\u201d Wentworth said. \u201cWe recognize that we need to be focused on what are the parts of the business that we believe are contributing and have a future, and some of those need to change.\u201d<\/p>\n<p>The CEO of the 123-year-old chain, who began his role with Walgreens in October, said \u201cretail pharmacy is central to our future and to our overall customer and patient experience. It enables many other things, but it has to change.\u201d<\/p>\n<p>Stores that are close to one another will be at the top of the list for closing, Wentworth indicated.<\/p>\n<p>Theft also remains <a href=\"https:\/\/www.westernjournal.com\/watch-locals-shame-walgreens-pharmacy-says-itll-leave-theft-ridden-neighborhood\/\" target=\"_blank\" rel=\"noopener\">an issue<\/a>, he indicated.<\/p>\n<p>Walgreens will seek partnerships with cities to save stores through \u201cinvesting in <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/washington-d-c-mayor-extends-emergency-declaration-for-15-days\/\" title=\"Washington, D.C. mayor extends emergency declaration for 15 days\">public safety<\/a> so that our customers and employees feel safe,\u201d Wentworth added.<\/p>\n<p>Wentworth said staff will be reassigned where possible.<\/p>\n<div id=\"firefly-poll-container\">\n<p>Do you frequent Walgreens?<\/p>\n<\/p><\/div>\n<p>\u201cWe don\u2019t see this as an employee reduction, we see this as a footprint reduction,\u201d he explained.<\/p>\n<p>On Thursday, Walgreens revealed that sales at stores open for at least one year fell 2.3 percent from last year\u2019s level. \u00a0Profits took a hit from promotions to attract customers and from <a href=\"https:\/\/www.westernjournal.com\/top-retailer-removing-majority-self-checkouts-store-will-next\/\" target=\"_blank\" rel=\"noopener\">theft<\/a>, according to <a href=\"https:\/\/www.foxbusiness.com\/lifestyle\/walgreens-close-significant-number-underperforming-stores-cuts-profit-forecast\" target=\"_blank\" rel=\"noopener\">Fox Business<\/a>.<\/p>\n<p>\u201cWe continue to face a difficult operating environment, including persistent pressures on the U.S. consumer and the impact of recent marketplace dynamics which have eroded pharmacy margins,\u201d Wentworth said.<\/p>\n<p>Walgreens now projects that its fiscal 2024 full-year adjusted earnings will be in the range of $2.80 to $2.95 per share, which is lower than its former estimate of $3.20 to $3.35 a share.<\/p>\n<p>As a result, Walgreens share prices dropped more than 20 percent, according to <a href=\"https:\/\/www.cnbc.com\/2024\/06\/27\/walgreens-wba-earnings-q3-2024.html\" target=\"_blank\" rel=\"noopener\">CNBC<\/a>.<\/p>\n<p>\u201cSeventy-five percent of our stores drive 100% of our profitability today,\u201d Wentworth said. \u201cWhat that means is the others we take a hard look at, we are going to finalize a number that we will close.\u201d<\/p>\n<p>\u201cWe assumed \u2026 in the second half that the consumer would get somewhat stronger\u201d but \u201cthat is not the case,\u201d Wentworth said.<\/p>\n<p>\u201cThe consumer is absolutely stunned by the absolute prices of things, and the fact that some of them may not be inflating doesn\u2019t actually change their resistance to the current pricing. So we\u2019ve had to get really keen, particularly in discretionary things,\u201d he said.<\/p>\n<hr>\n<div>\n<p><b><i>A Note from Our Deputy Managing Editor:<\/i><\/b><\/p>\n<p><i><span>I heard a chilling comment the other day: \u201cWe don\u2019t even know if an election will be held in 2024.\u201d <\/span><\/i><\/p>\n<p><i><span>That wasn\u2019t said by a conspiracy theorist or a doomsday prophet. No, former U.S. national security advisor Lt. Gen. Michael Flynn said that to the founder of The Western Journal, Floyd Brown.<\/span><\/i><\/p>\n<p><i><span>Gen. Flynn\u2019s warning means that the 2024 election is the most important election for every single living American. If we lose this one to the wealthy elites who hate us, hate God, and hate what America stands for, we can only assume that 248 years of American history and the values we hold dear to our hearts may soon vanish.<\/span><\/i><\/p>\n<p><i><span>The end game is here, and as Benjamin Franklin said, \u201cWe must all hang together, or assuredly we shall all hang separately.\u201d<\/span><\/i><\/p>\n<p><i><span>All of this means that <\/span><\/i><a href=\"https:\/\/www.westernjournal.com\/subscribe\/?utm_source=site&#038;utm_medium=westernjournalism&#038;utm_campaign=authorpitch\"><i><span>without you<\/span><\/i><\/a><i><span>, it\u2019s over. We have the platform, the journalists, and the experience to <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/desantis-rises-as-he-promises-hes-only-begun-to-fight-put-on-full-armor-of-god-to-fight-the-left\/\" title=\"DeSantis Rises As He Promises He\u2019s \u2018Only Begun To Fight\u2019: \u2018Put On Full Armor Of God\u2019 To Fight The Left\">fight back hard<\/a>, but Big Tech is strangling us through advertising blacklists, shadow bans, and algorithms. Did you know that we\u2019ve been blacklisted by 90% of advertisers? Without direct support from you, our readers, we can\u2019t continue the fight.<\/span><\/i><\/p>\n<p><i><span>Can we count on <\/span><\/i><a href=\"https:\/\/www.westernjournal.com\/subscribe\/?utm_source=site&#038;utm_medium=westernjournalism&#038;utm_campaign=authorpitch\"><i><span>your support<\/span><\/i><\/a><i><span>? It may not seem like much, but a <\/span><\/i><a href=\"https:\/\/www.westernjournal.com\/subscribe\/?utm_source=site&#038;utm_medium=westernjournalism&#038;utm_campaign=authorpitch\"><i><span>Western Journal Membership<\/span><\/i><\/a><i><span>  can make all the difference in the world because when you support us directly, you cut Big Tech out of the picture. They lose control. <\/span><\/i><\/p>\n<p><i><span>A monthly Western Journal Membership costs less than one coffee and breakfast sandwich each month, and it gets you access to ALL of our content \u2014 news, commentary, and premium articles. You\u2019ll experience a radically reduced number of ads, and most importantly you will be vitally supporting the fight for America\u2019s soul in 2024.<\/span><\/i><\/p>\n<p><i><span>We are literally counting on you because without our members, The Western Journal would cease to exist. Will you <\/span><\/i><a href=\"https:\/\/www.westernjournal.com\/subscribe\/?utm_source=site&#038;utm_medium=westernjournalism&#038;utm_campaign=authorpitch\"><i><span>join us<\/span><\/i><\/a><i><span>  in the fight? <\/span><\/i><\/p>\n<p><i><span>Sincerely,<\/span><\/i><\/p>\n<p><i><span>Josh Manning<\/span><\/i><\/p>\n<p><i><span>Deputy Managing Editor<\/span><\/i><\/p>\n<p><i><span>The Western Journal<\/span><\/i><\/p>\n<\/p><\/div>\n<div id=\"author-info-44685\">\n<p><a href=\"https:\/\/www.westernjournal.com\/author\/russdavis\/\">  <\/a> <\/p>\n<div>\n<p><label for=\"summary-tab-radio-44685\">Summary<\/label><label for=\"more-info-tab-radio-44685\">More<span> Biographical Information<\/span><\/label><label for=\"posts-tab-radio-44685\">Recent<span> Posts<\/span><\/label><label for=\"contact-tab-radio-44685\" onclick=\"if( typeof grecaptcha=='undefined' ) { let cap_s=document.createElement( 'script' ); cap_s.src='https:\/\/www.google.com\/recaptcha\/api.js?render=6LeJFcsUAAAAAPsIEqvB1EebWbZfqRUe6ebMpGy7'; document.body.appendChild( cap_s ); }\">Contact<\/label><\/p>\n<div>\n<p>Jack Davis is a freelance writer who joined The Western Journal in July 2015 and chronicled the campaign that saw President Donald Trump elected. Since then, he has written extensively for The Western Journal on the Trump administration as well as foreign policy and military issues.<\/p>\n<\/p><\/div>\n<div>\n<p>  Jack Davis is a freelance writer who joined The Western Journal in July 2015 and chronicled the campaign that saw President Donald Trump elected. Since then, he has written extensively for The Western Journal on the Trump administration as well as foreign policy and military issues. <br \/> Jack can be reached at jackwritings1@gmail.com. <\/p>\n<p>  Location <\/p>\n<p>  New York City <\/p>\n<p>  Languages Spoken <\/p>\n<p>  English <\/p>\n<p>  Topics of Expertise <\/p>\n<p>  Politics, Foreign Policy, Military &#038; Defense Issues <\/p>\n<\/p><\/div>\n<\/p><\/div>\n<\/p><\/div>\n<\/section>\n<p><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Walgreens plans to shut down a &#8220;significant share&#8221; of its roughly 8,600 U.S. stores, according to The Wall Street Journal. This decision follows an interview with the CEO of Walgreens Boots Alliance<\/p>\n","protected":false},"author":661,"featured_media":2284768,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"https:\/\/www.westernjournal.com\/wp-content\/uploads\/2024\/06\/walgreens.jpg","fifu_image_alt":"","footnotes":""},"categories":[],"tags":[6003,13826,6581,33089,17434],"class_list":["post-2284767","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","tag-closing","tag-pharmacy","tag-retail","tag-u-s-locations","tag-walgreens"],"fifu_image_url":"https:\/\/www.westernjournal.com\/wp-content\/uploads\/2024\/06\/walgreens.jpg","_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/2284767","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/661"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=2284767"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/2284767\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/2284768"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=2284767"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=2284767"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=2284767"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}