Walgreens, CVS, and Rite-Aid are closing hundreds of stores due to a combination of over-expansion, competition, shoplifting, and unsustainable pharmacy models, as highlighted by CEO Tim Wentworth.
The majority of drugstores' sales comes from filling prescriptions. But their profits from that business have dropped in recent years as reimbursement rates for prescription drugs fall while fees rise.
We are at a point where the current pharmacy model is not sustainable," said Walgreens' CEO, pointing to the need for a reevaluation of how drugstores operate in today’s market.
Retailers like Walgreens are experiencing operational challenges leading to store closures; competition, theft, and outdated strategies are exacerbating an already critical situation.
Collection
[
|
...
]