In another business casualty from the Biden-Harris administration, Walgreens announced Tuesday that it would close roughly 1,200 locations over the next three years.
500 of the 8,500 Walgreens stores will close in the current fiscal year, the Associated Press reported, adding, “The company began the year by cutting the dividend it pays shareholders to raise cash. Six months later, it slashed its forecast for 2024.”
According to Walgreens CEO Tim Wentworth, roughly 70% of the company’s stores are profitable. “This solid base supports our conviction in a retail pharmacy-led model that is relevant to our consumers, and we intend to invest in these stores over the next several years,” he said.
MATT WALSH’S ‘AM I RACIST?’ COMING TO DAILYWIRE+ OCT. 28
Neil Saunders, managing director of consulting and data analysis firm GlobalData, argued that the profitable stores are not…
