Forbes July 1, 2024
As Walgreens Boots Alliance considers closing hundreds of “underperforming” stores, the company’s top executive says a turnaround of the drugstore giant’s key U.S. retail pharmacy business could take several “quarters, not months.”
The drugstore giant’s prescription growth hasn’t rebounded to where it was before the COVID-19 pandemic while consumer spending has slowed. In particular, millions of Americans have lost Medicaid health insurance as states unraveled a pandemic-era program and have yet to regain coverage so they can’t pay for prescriptions like they once did. All of these trends are among the issues hurting Walgreens pharmacy business that the company’s top executive last week said would “persist into next year.”
“As a result of the inflationary environment, WBA’s front-store customers continue...
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