“Build Back Better.”
Walgreens is the latest casualty under the current administration, which has allows crime to flourish and inflation to soar.
According to The Wall Street Journal, Walgreens will be shutting down a “significant share” of its roughly 8,600 stores in the U.S., with estimates suggesting that nearly 25% of these locations will be closed.
The decision was due to the “uncertain and challenging economic environment.”
Massive U.S. Pharmacy Chain to Close ‘Significant Share’ of Stores as Locations Struggle
— The Gateway Pundit (@gatewaypundit) June 28, 2024
READ: https://t.co/boNgxnb43Z pic.twitter.com/wLQ0dhlXbA
The Gateway Pundit reported:
Walgreens will be closing what The Wall Street Journal reports will be a “significant share” of its approximately 8,600 U.S. stores.
The Journal report, from an interview with Walgreens Boots Alliance Chief Executive Officer Tim Wentworth, quoted Wentworth as saying Walgreens would close a “meaningful percent” of underperforming stores over the next several years.
Wentworth indicated Walgreens will also be reducing its investment in Village MD, a primary care provider.
“We recognize where we are is a turnaround,” Wentworth said. “We 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.”
The CEO of the 123-year-old chain, who began his role with Walgreens in October, said “retail pharmacy is central to our future and to our overall customer and patient experience. It enables many other things, but it has to change.”
Stores that are close to one another will be at the top of the list for closing, Wentworth indicated.
Theft also remains an issue, he indicated.
Walgreens will seek partnerships with cities to save stores through “investing in public safety so that our customers and employees feel safe,” Wentworth added.
Wentworth said staff will be reassigned where possible.
“We don’t see this as an employee reduction, we see this as a footprint reduction,” he explained.
The collapse of #walgreens has been unlike anything I’ve ever seen in big retail.
— Brian Sullivan (@SullyCNBC) June 27, 2024
It’s down 24% today and has now lost 80% of its value in under 5 years.
This is America’s largest pharmacy chain .. with over 8,500 stores & more than 300,000 employees.
Simply insane. pic.twitter.com/alOmhLWKkO
Obviously, this is due to the current economy, however, Democrat’s soft-on-crime policies that allow mass theft are also a major issue.
Here are a few examples illustrating how soft-on-crime policies have significantly contributed to Walgreens’ economic struggles:
Group of thieves steal cash registers from Walgreens in Oakland, California pic.twitter.com/s70gUKdMLN
— BAY AREA STATE OF MIND (@YayAreaNews) November 3, 2023
Only on @kron4news – About 9 masked thieves seen ransacking the Castro Walgreens last night taking off with bags of merch. Walgreens reps say they don’t discuss safety measures but that is a priority. The witness says they only saw a guard on the aftermath talking with police.1/2 pic.twitter.com/jjpy48cCa4
— Ella Sogomonian (@EllaSogomonian) January 31, 2024
Every night our local Walgreens is targeted by fentanyl thieves who sell the stolen items for money to buy fentanyl @ the fentanyl bazaar.
— World Peace Movement (@darren_stallcup) March 15, 2024
This woman walked into the Walgreens with a baby stroller (no baby) filled it all up with stolen goods and tried to walked out. pic.twitter.com/XXay2GLBAp
