America’s Disappearing Drug Stores
Walgreens announced Tuesday it plans to close 1,200 stores, meaning 1 in 7 will disappear.
CVS is closing 900 stores
Rite-Aid is closing 500.
Nearly a third of independent pharmacies at risk of closure in 2024
More of the consequences of Democrat policies Shoplifting, soft of crime, defend the police and destructive over regulation have routed the retail pharmacy business.
Drugstores that once snapped up prime retail space across the country are now in retreat. CVS is now down to about 9,200 locations.
On Tuesday, Walgreens, which also owns Duane Reade, said it will shutter 1,200 of its 8,700 stores. Rite Aid is emerging from bankruptcy and now has just 1,300 locations after closing hundreds.
At the same time as Friday’s announcement on the top job, CVS lowered its financial outlook again. (MSN)
Nearly a third of independent pharmacies are at risk of going out of business due in part to a new rule from the Centers for Medicare and Medicaid Services (CMS) that results in lower prescription reimbursements, according to the National Community Pharmacists Association (NCPA), a trade group that represents more than 19,400 US pharmacies.
“This is an emergency,” NCPA CEO B. Douglas Hoey said in a statement. “If Congress fails to act again, thousands of local pharmacies could be closed within months and millions of patients could be stranded without a pharmacy.” (more….)
Source: https://gellerreport.com/2024/10/americas-disappearing-drug-stores.html/
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Whistler Blowers, Insiders
Disappearing drug stores at a time when there are more drugs on the market than any time of previous history. Sounds like these CEOs have been taught horrible business practices in Fool School.