Walgreens' parent company announced it expects to close 150 locations in the United States.
The pharmacy chain reported lower earnings on Tuesday compared to the same quarter last year - $118 million, or 14 cents a share, compared to $289 million, or 33 cents a share, a year ago. The company is facing muted consumer spending and a pullback in demand for COVID vaccines.
CEO Rosalind Brewer said the company was increasing its cost-savings efforts to $4.1 billion and "taking immediate actions to optimize profitability for our US healthcare segment." Kehoe told analysts the company will have saved $3.3 billion by the end of this year, and is projecting to save "at least" $800 million in 2024. These store closures are part of its cost-cutting effort.Kehoe said the company also eliminated more than 500 roles, or around 10% of its corporate and US office support workforce. Technology and its plans to build the "pharmacy of the future" will further drive savings, he said.
"We are optimizing the model through our micro fulfillment centers, tech-enabled centralization of in-store activities and telepharmacy solutions," Kehoe said. Walgreens did not specify which locations are closing and did not immediately respond to CNN's request for comment.
Brasil Últimas Notícias, Brasil Manchetes
Similar News:Você também pode ler notícias semelhantes a esta que coletamos de outras fontes de notícias.
Walgreens is closing 450 locationsWalgreens expects to close 150 locations in the United States and 300 locations in the United Kingdom, Walgreens Boots Alliance CFO James Kehoe said in the company's earnings call this week.
Consulte Mais informação »
Walgreens is closing 450 locations | CNN BusinessWalgreens expects to close 150 locations in the United States and 300 locations in the United Kingdom, Walgreens Boots Alliance CFO James Kehoe said in the company’s earnings call this week.
Consulte Mais informação »
Walgreens plans to close 150 U.S. locationsPharmacy store chain Walgreens plans to shut 150 store locations across the United States by the end of August 2024, the company announced this week.
Consulte Mais informação »
Walgreens expects to close 150 U.S. storesIn addition, the company expects to close 300 stores in the United Kingdom.
Consulte Mais informação »
Ohio woman indicted after authorities find over 150 dead dogs on propertiesCuyahoga County Prosecutor Michael O’Malley announced a grand jury has indicted a 68-year-old woman for severely neglecting 36 dogs at her Parma residence.
Consulte Mais informação »
150-acre fire near Wenatchee was started by Chelan County PUD crewThe fire initially had 50 homes under a Level 2 evacuation order.
Consulte Mais informação »