Walgreens and competitors like CVS and Rite Aid — which is going through a bankruptcy reorganization — have already closed hundreds of stores the past few years.Author:9:43 AM EDT June 27, 2024
"We are at a point where the current pharmacy model is not sustainable and the challenges in our operating environment require we approach the market differently," he said. “Our customers have become increasingly selective and price sensitive in their purchases,” said Wentworth, who joined the company last fall and has been conducting a review of its business.
The company said it earned $344 million in its fiscal third quarter, with adjusted results totaling 63 cents per share. Revenue rose nearly 3% to $36.35 billion.
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