Walgreens signals more store closings ahead, missed earnings, and reduced annual forecast due to market challenges, increased competition, and shifting consumer behaviors.
Competitors like CVS and Rite Aid also closed stores; challenges include tight prescription reimbursements, rising operational costs, and competition from Walmart, Amazon, and others outside pharmacy sales.
Walgreens CEO cites 'persistent pressure on the U.S. consumer' affecting business, including the review of its operations amid ongoing challenges and the closure of VillageMD clinics.
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