{"id":2285592,"date":"2024-06-28T18:22:01","date_gmt":"2024-06-28T22:22:01","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/bidenomics-rends-walgreens-national-chain-set-to-shutter-significant-number-of-locations\/"},"modified":"2024-06-28T18:30:50","modified_gmt":"2024-06-28T22:30:50","slug":"bidenomics-rends-walgreens-national-chain-set-to-shutter-significant-number-of-locations","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/bidenomics-rends-walgreens-national-chain-set-to-shutter-significant-number-of-locations\/","title":{"rendered":"Bidenomics Rends Walgreens: National Chain Set to Shutter Significant Number of Locations"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"float:left\"><div class=\"counts mashsbcount\">24<\/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%2Fbidenomics-rends-walgreens-national-chain-set-to-shutter-significant-number-of-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=2285592&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>The \u2063commentary discusses the closure of underperformeneing Walgreens stores in the U.S. \u200cas part of a\u200c &#8220;multiyear \u200cfootprint optimization \u2064program&#8221; amid challenging\u200b economic\u200b conditions referred to as &#8220;Hurricane \u200cBidenomics.&#8221; This move\u200b is\u200b attributed to a\u200c tough U.S. retail\u200d environment and\u200c a\u200c worse-than-expected \u200bU.S. consumer climate. CEO Tim Wentworth mentioned that only 75% of their stores \u200bare \u2064contributing to the company&#8217;s Adjusted Operating Income, implying potential closures for the remaining\u2063 25% which amounts to around 2,250 stores.<\/p>\n<p>The economic strain\u2062 leading to this\u200d decision is linked to\u2063 what is termed as Biden\u2019s inflation, making consumers\u2063 more selective and \u2063price-sensitive. The \u2064financial \u200dpressure \u200bon consumers is echoed by industries lowering prices and introducing value deals to cope \u200dwith \u2063reduced discretionary spending.<\/p>\n<p>The \u2062article concludes with a broader economic commentary, criticizing political figures \u200bfor allegedly presenting \u200cmisleading economic data and influencing public perception during\u200d current times. It also \u200dmentions a \u2063concerning statement \u200dby \u2063former national security advisor Lt. Gen. Michael Flynn regarding\u2063 the potential undermining of the 2024\u2062 election, emphasizing the \u200dcritical nature of this upcoming event and rallying support for journalistic efforts\u2064 to report\u200d on these issues.  <\/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\/commentary\/\">  Commentary <\/a>   <span> <\/p>\n<p><a href=\"https:\/\/www.westernjournal.com\/author\/michael-schwarz\/\">  <\/a> <\/p>\n<p> <span>  &nbsp;By <a href=\"https:\/\/www.westernjournal.com\/author\/michael-schwarz\/%20\"><span>Michael Schwarz<\/span><\/a> <\/span> <span>  &nbsp;June 28, 2024 at 1:41pm <\/span> <\/span>  <\/header>\n<section>\n<p>Another American business is closing doors and boarding up windows in hopes of riding out Hurricane Bidenomics.<\/p>\n<p>In a <a href=\"https:\/\/investor.walgreensbootsalliance.com\/static-files\/2eb7b12d-101f-413a-b676-a1bbaaa3e599\" target=\"_blank\" rel=\"noopener\">news release<\/a> Thursday, Walgreens Boots Alliance, Inc. (WBA), which <a href=\"https:\/\/www.walgreensbootsalliance.com\/our-business\/us-retail-pharmacy-segment\" target=\"_blank\" rel=\"noopener\">owns<\/a> the Walgreens <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/white-house-releases-list-of-president-trumps-accomplishments-and-it-is-historic\/\" title=\"White House Releases List of President Trump\u2019s Accomplishments \u2013  And It Is Historic!\">retail pharmacy<\/a> chain, announced a &ldquo;significant multiyear footprint optimization program to close certain underperforming U.S. stores.&rdquo;<\/p>\n<p>The announcement cited both &ldquo;a challenging U.S. retail environment&rdquo; and &ldquo;a worse-than-expected U.S. consumer environment.&rdquo;<\/p>\n<p>WBA investors received details on a Thursday morning Q3 2024 <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/facebook-testing-a-number-of-approaches-to-limiting-political-content\/\" title=\"Facebook Testing \u2018A Number Of Approaches\u2019 To Limiting Political Content\">earnings call<\/a> featuring CEO Tim Wentworth.<\/p>\n<p>According to a <a href=\"https:\/\/finance.yahoo.com\/news\/walgreens-boots-alliance-inc-nasdaq-120304569.html\" target=\"_blank\" rel=\"noopener\">transcript<\/a> of the earnings call, Wentworth described 25 percent of Walgreens stores as adding nothing at present to the company&rsquo;s Adjusted Operating Income, or AOI.<\/p>\n<p>&ldquo;Currently, 75 percent of our U.S. stores contribute roughly 100 percent of segment AOI. For the remaining 25 percent of the stores in our network, which are not currently contributing to our long-term strategy, changes are imminent,&rdquo; the CEO said.<\/p>\n<p>Wentworth did not specify the precise number of stores slated for closure.<\/p>\n<p><a href=\"https:\/\/jobs.walgreens.com\/en\/about-us\" target=\"_blank\" rel=\"noopener\">Walgreens<\/a>, however, boasts more than 12,500 stores across the U.S., Europe and Latin America. The 50 U.S. states, the District of Columbia, Puerto Rico and the U.S. Virgin Islands account for nearly 9,000 of these stores.<\/p>\n<p>Thus, as many as 2,250 &ldquo;underperforming&rdquo; U.S. stores could close as part of the company&rsquo;s &ldquo;multiyear footprint optimization program.&rdquo;<\/p>\n<div id=\"firefly-poll-container\">\n<p>Does your area have a Walgreens?<\/p>\n<\/p><\/div>\n<p>As one might expect, the announcement of store closures also came with diminished expectations for <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/walmart-cuts-profit-forecast-blames-food-and-fuel-inflation\/\" title=\"Walmart cuts profit forecast, blames food and fuel inflation\">full-year earnings<\/a>. Wentworth attributed this to the <a href=\"https:\/\/www.westernjournal.com\/bidenomics-destroying-america-mays-jobs-report-proof\/\" target=\"_blank\" rel=\"noopener\">economy<\/a> as a whole.<\/p>\n<p>&ldquo;In U.S. Retail Pharmacy, we witnessed continued pressure on the U.S. consumer,&rdquo; the CEO noted. &ldquo;Our customers have become increasingly selective and price sensitive in their purchases.&rdquo;<\/p>\n<p>In other words, Biden&rsquo;s signature <a href=\"https:\/\/www.westernjournal.com\/biden-killing-economy-inflation-remains-high-consumer-spending-weakens\/\" target=\"_blank\" rel=\"noopener\">inflation<\/a> has made consumers cautious.<\/p>\n<p>Meanwhile, WBA Global Chief Financial Officer Manmohan Mahajan amplified Wentworth&rsquo;s comments about the general economic environment.<\/p>\n<p>&ldquo;As Tim mentioned, the consumer backdrop remains a challenge. With this continued channel shift and a <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/jpmorgan-citigroup-to-hike-prime-rate-by-75-bps-mirroring-feds-move\/\" title=\"JPMorgan, Citigroup to hike prime rate by 75 bps mirroring Fed\u2019s move\">sustained pullback<\/a> in discretionary spending, we have responded by lowering prices across health and wellness, personal care and seasonal categories,&rdquo; Mahajan said.<\/p>\n<p>Other industries, of course, have responded similarly to this &ldquo;sustained pullback in discretionary spending&rdquo; by consumers.<\/p>\n<p>In the fast-food sector, for instance, Biden&rsquo;s inflation has resulted in &ldquo;<a href=\"https:\/\/www.westernjournal.com\/calling-value-meal-wars-taco-bell-enters-fray-new-7-deal\/\" target=\"_blank\" rel=\"noopener\">value meal wars<\/a>.&rdquo; And one could hardly imagine a more depressing signal. After all, if consumers cannot afford the price of fast food, then what can they afford?<\/p>\n<p>Nonetheless, prominent Democrats have continued to lie about Bidenomics.<\/p>\n<p>Following the president&rsquo;s <a href=\"https:\/\/www.westernjournal.com\/watch-bidens-performance-bad-people-started-wonder-hallucinated-audience-debate\/\" target=\"_blank\" rel=\"noopener\">catastrophic debate performance<\/a> on Thursday night, for instance, Democratic Gov. <a href=\"https:\/\/www.westernjournal.com\/bidens-potential-replacement-speaks-disastrous-debate\/\" target=\"_blank\" rel=\"noopener\">Gavin Newsom<\/a> of California cited phony economic numbers while encouraging an MSNBC audience to rally around Biden&rsquo;s &ldquo;masterclass&rdquo; of a presidency.<\/p>\n<p>No word on whether Newsom credited Biden&rsquo;s &ldquo;masterclass&rdquo; with triggering that &ldquo;sustained pullback&rdquo; in Americans&rsquo; &ldquo;discretionary spending.&rdquo;<\/p>\n<p>Here&rsquo;s hoping Walgreens workers can weather the storm.<\/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: &ldquo;We don&rsquo;t even know if an election will be held in 2024.&rdquo;&nbsp;<\/span><\/i><\/p>\n<p><i><span>That wasn&rsquo;t 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&rsquo;s 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, &ldquo;We must all hang together, or assuredly we shall all hang separately.&rdquo;<\/span><\/i><\/p>\n<p><i><span>All of this means that <\/span><\/i><a href=\"https:\/\/www.westernjournal.com\/subscribe\/?utm_source=site&amp;utm_medium=westernjournalism&amp;utm_campaign=authorpitch\"><i><span>without you<\/span><\/i><\/a><i><span>, it&rsquo;s 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&rsquo;ve been blacklisted by 90% of advertisers? Without direct support from you, our readers, we can&rsquo;t 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&amp;utm_medium=westernjournalism&amp;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&amp;utm_medium=westernjournalism&amp;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.&nbsp;<\/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 &mdash; news, commentary, and premium articles. You&rsquo;ll experience a radically reduced number of ads, and most importantly you will be vitally supporting the fight for America&rsquo;s 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&amp;utm_medium=westernjournalism&amp;utm_campaign=authorpitch\"><i><span>join us<\/span><\/i><\/a><i><span>  in the fight?&nbsp;<\/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-45760\">\n<p><a href=\"https:\/\/www.westernjournal.com\/author\/michael-schwarz\/\">  <\/a> <\/p>\n<div>\n<p><label for=\"summary-tab-radio-45760\">Summary<\/label><label for=\"more-info-tab-radio-45760\">More<span> Biographical Information<\/span><\/label><label for=\"posts-tab-radio-45760\">Recent<span> Posts<\/span><\/label><label for=\"contact-tab-radio-45760\" 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>Michael Schwarz holds a Ph.D. in History and has taught at multiple colleges and universities. He has published one book and numerous essays on Thomas Jefferson, James Madison, and the Early U.S. Republic. He loves dogs, baseball, and freedom. After meandering spiritually through most of early adulthood, he has rediscovered his faith in midlife and is eager to continue learning about it from the great Christian thinkers.<\/p>\n<\/p><\/div>\n<div>\n<p>  Michael Schwarz holds a Ph.D. in History and has taught at multiple colleges and universities. He has published one book and numerous essays on Thomas Jefferson, James Madison, and the Early U.S. Republic. He loves dogs, baseball, and freedom. After meandering spiritually through most of early adulthood, he has rediscovered his faith in midlife and is eager to continue learning about it from the great Christian thinkers. <\/p>\n<\/p><\/div>\n<\/p><\/div>\n<\/p><\/div>\n<\/section>\n<p><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Commentary by Michael Schwarz, June 28, 2024: Walgreens Boots Alliance, Inc. (WBA) is shuttering some U.S. stores as part of a major multiyear plan to optimize its footprint. This move, dubbed &#8220;Hurricane Bidenomics&#8221; by some, reflects efforts to weather economic challenges by closing underperforming locations<\/p>\n","protected":false},"author":2056,"featured_media":2285593,"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-suffers-under-Bidenomics.jpg","fifu_image_alt":"","footnotes":""},"categories":[],"tags":[12626,33258,9168,33086,17434],"class_list":["post-2285592","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","tag-bidenomics","tag-business-operations","tag-economy","tag-store-closures","tag-walgreens"],"fifu_image_url":"https:\/\/www.westernjournal.com\/wp-content\/uploads\/2024\/06\/Walgreens-suffers-under-Bidenomics.jpg","_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/2285592","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\/2056"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=2285592"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/2285592\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/2285593"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=2285592"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=2285592"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=2285592"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}