{"id":42837,"date":"2025-01-23T10:24:42","date_gmt":"2025-01-23T10:24:42","guid":{"rendered":"https:\/\/peraltafinancing.com\/activist\/walgreens-to-close-450-stores-nationwide-insights-and-analysis\/"},"modified":"2025-01-23T10:24:42","modified_gmt":"2025-01-23T10:24:42","slug":"walgreens-to-close-450-stores-nationwide-insights-and-analysis","status":"publish","type":"post","link":"https:\/\/fivemor.com\/?p=42837","title":{"rendered":"Walgreens to Close 450 Stores Nationwide: Insights and Analysis"},"content":{"rendered":"<p> <br \/>\n<\/p>\n<div>\n<p>What genius retail executive mind could have figured\u00a0<em>this\u00a0<\/em>one out \u2013 that locking up merchandise in stores actually makes its more difficult for honest, paying customers to get to, and buy what they want?<\/p>\n<p>Walgreens \u2013 facing a significant drop in year-over-year earnings \u2013 just announced plans to close 450 more stores nationwide,\u00a0<a href=\"https:\/\/futurism.com\/the-byte\/walgreens-ceo-locking-up-merch\" target=\"_blank\" rel=\"noreferrer noopener\">according to Futurism\/The Byte<\/a>.\u00a0These closures exhibit the broader challenges faced by Walgreens.<\/p>\n<p>Efforts to curb \u201cshrink\u201d \u2014 losses from theft or fraud \u2014 included increased security measures, such as locking merchandise in containers requiring staff assistance at Walgreens.<\/p>\n<p><strong>However, these measures proved ineffective and counterproductive, frustrating customers.<\/strong><\/p>\n<p>CEO Tim Wentworth said on the company\u2019s earning\u2019s call:\u00a0\u201cIt is a hand-to-hand combat battle still, unfortunately.\u201d<\/p>\n<div class=\"bc_rb_click_track bc_random_banner\" data-id=\"16\" data-url=\"https:\/\/www.activistpost.com\/wp-admin\/admin-ajax.php?action=bc_rb_ads_click&amp;nonce=be780422d1\"><a target=\"_blank\" href=\"https:\/\/brainsupreme.co\/MACRO15\" title=\"Brain-Supreme-Gold_OnTransparent 800x270\"><img loading=\"lazy\" width=\"800\" height=\"270\" decoding=\"async\" src=\"https:\/\/activistpost.com\/wp-content\/uploads\/2024\/12\/Brain-Supreme-Gold_OnTransparent-800x270-1.png?v=6847\" title=\"Brain-Supreme-Gold_OnTransparent 800x270\"\/><\/a><\/div>\n<figure class=\"wp-block-image aligncenter is-resized\"><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/assets.zerohedge.com\/s3fs-public\/inline-images\/locked%20products.jpg?itok=MUYWYsi-\" alt=\"\" style=\"width:867px;height:auto\"\/><\/figure>\n<p>\u201cBut it does impact how sales work through the store because when you lock things up. For example, you don\u2019t sell as many of them. We\u2019ve kind of proven that pretty conclusively,\u201d he continued about the challenges at Walgreens.\u00a0<\/p>\n<p>The\u00a0<a href=\"https:\/\/futurism.com\/the-byte\/walgreens-ceo-locking-up-merch\" target=\"_blank\" rel=\"noreferrer noopener\">report<\/a>\u00a0says that\u00a0Walgreens is struggling with rising prices, which are making it harder for consumers to afford products. The company faces challenges in its retail business due to inflation and higher interest rates, leading to more cost-conscious shopping and changes in purchasing habits.<\/p>\n<p>In 2021, Walgreens faced backlash for closing five stores in San Francisco, citing \u201corganized\u201d shoplifting, though police records showed only 23 incidents between 2018 and 2021.<\/p>\n<p>During a 2023 earnings call, Walgreens CFO James Kehoe admitted the company may have over-invested in security to address theft, acknowledging the company had perhaps exaggerated the problem. This suggests Walgreens has often used theft concerns as a cover for deeper issues within its retail operations.<\/p>\n<\/div>\n\n","protected":false},"excerpt":{"rendered":"<p>What genius retail executive mind could have figured\u00a0this\u00a0one out \u2013 that locking up merchandise in stores actually makes its more difficult for honest, paying customers to get to, and buy what they want? Walgreens \u2013 facing a significant drop in year-over-year earnings \u2013 just announced plans to close 450 more stores nationwide,\u00a0according to Futurism\/The Byte.\u00a0These [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":42838,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[12022],"tags":[10990,4065,10844,17801,19280,26636],"dealstore":[],"offerexpiration":[],"class_list":["post-42837","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-activist","tag-analysis","tag-close","tag-insights","tag-nationwide","tag-stores","tag-walgreens"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.4 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Walgreens to Close 450 Stores Nationwide: Insights and Analysis - Som2ny Network<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/fivemor.com\/?p=42837\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Walgreens to Close 450 Stores Nationwide: Insights and Analysis - Som2ny Network\" \/>\n<meta property=\"og:description\" content=\"What genius retail executive mind could have figured\u00a0this\u00a0one out \u2013 that locking up merchandise in stores actually makes its more difficult for honest, paying customers to get to, and buy what they want? 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