CNBC | Why Walgreens And CVS Are Shutting Down Thousands Of Stores @CNBC | Uploaded August 2024 | Updated October 2024, 3 hours ago.
In its fiscal third-quarter report, Walgreens announced its plans to close a ‘significant’ amount of stores, acknowledging only 75% of its 8,600 stores were profitable. While no specific stores were tapped for closure yet, more than 2,000 locations could face the chopping block by 2027. This just the latest sign of trouble for the struggling retail pharmacy sector as CVS and Rite Aid both announced large closures in the past year. Watch the video above to learn why U.S. pharmacy chains are fighting for survival.
Chapters:
0:00 Introduction
1:17 What Went Wrong
4:10 The drug pricing problem
7:04 The impact of pharmacy deserts
10:03 What’s next?
Produced by: Devan Burris
Edited by: Darren Geeter
Animation: Christina Locopo, Jason Reginato
Senior Managing Producer: Tala Hadavi
Additional Footage: Getty Images, CVS, Rite Aid
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Why Walgreens And CVS Are Shutting Down Thousands Of Stores
In its fiscal third-quarter report, Walgreens announced its plans to close a ‘significant’ amount of stores, acknowledging only 75% of its 8,600 stores were profitable. While no specific stores were tapped for closure yet, more than 2,000 locations could face the chopping block by 2027. This just the latest sign of trouble for the struggling retail pharmacy sector as CVS and Rite Aid both announced large closures in the past year. Watch the video above to learn why U.S. pharmacy chains are fighting for survival.
Chapters:
0:00 Introduction
1:17 What Went Wrong
4:10 The drug pricing problem
7:04 The impact of pharmacy deserts
10:03 What’s next?
Produced by: Devan Burris
Edited by: Darren Geeter
Animation: Christina Locopo, Jason Reginato
Senior Managing Producer: Tala Hadavi
Additional Footage: Getty Images, CVS, Rite Aid
» Subscribe to CNBC: https://cnb.cx/SubscribeCNBC
» Subscribe to CNBC TV: https://cnb.cx/SubscribeCNBCtelevision
About CNBC: From 'Wall Street' to 'Main Street' to award winning original documentaries and Reality TV series, CNBC has you covered. Experience special sneak peeks of your favorite shows, exclusive video and more.
Want to be more successful and confident with your money? Take CNBC Make It’s new online course. Our expert instructors will help you master your money and discover practical strategies to boost your savings, reduce debt, and grow your wealth—in a way that works best for you. Enroll in "Achieve Financial Wellness: Be Happier, Wealthier & More Financially Secure" to start your journey to financial freedom today! Get a 30% discount with the coupon code EARLYBIRD until September 2, 2024: https://cnb.cx/3WiasGB
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Why Walgreens And CVS Are Shutting Down Thousands Of Stores
