or decades, pharmacy chains like Walgreens and CVS have been fixtures of convenience, but a perfect storm of challenges is forcing changes. Years of over-expansions have left drugstore chains saddled with underperforming stores in a retail landscape increasingly dominated by e-commerce.Mounting government fines and strained relationships with health insurers have further squeezed profit margins. With shifting consumer habits and increased financial pressures, the future of these once-prized retail anchor tenants is precarious.
Shortly after Tim Wentworth stepped into his role as CEO at Walgreens, he revealed that a quarter of the chain’s stores were unprofitable. Now, Walgreens is taking action, announcing plans to close 1,200 locations over the next three years. Similarly, CVS recently announced layoffs of 2,900 corporate employees as both pharmacy giants embark on drastic cost-cutting measures...
RSK: I wouldn`t be surprised to see a few in greater Madison close....but would bet they would be snapped up by someone soon after. Some of these stores have a very high rate of theft and when you lock items up you won`t sell as many....a conundrum.
Share this article on you social outlets
Our Sponsors
- - Volume: 25 - WEEK: 4 Date: 1/21/2025 3:22:27 PM -