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In an interview, the pharmacy chain’s CEO Tim Wentworth noted that they are “on a turnaround,” even though the company beat lowered earnings estimates for the fourth quarter. Regarding its position in the stock market, Walgreens shares rose 92 cents (10 percent) at US$9.92 in morning operations.
However, the restructuring corresponds to a plan implemented by Wentworth since his inauguration last year, when he announced a US$1,000,000,000 cost reduction program along with a series of measures. Last May, the CEO reduced prices of 1,300 products to fight against inflation that affected the pockets of American citizens.
Pharmaceutical companies that will close stores in the United States
Walgreens is not the only company that will close stores in the coming years in the United States with the aim of improving its finances. In the same situation is Rite Aidwhich announced in October that it planned to close 154 stores as part of its bankruptcy filing, amid a sharp decline in sales.
Beyond large companies, many pharmacies announced closures in the United States due to low reimbursement rates for pharmaceutical care and dispensing fees for Medicaid enrollees, the government benefit for some individuals and families with limited income and resources.
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