Kamala Harris promises an 'opportunity economy' for all Americans. What that means, exactly, we don't know. And neither does Kamala.
But we know what it looks like. It looks like businesses closing their doors.
Today, Walgreens announced their plan to shutter 1,200 locations because one in four stores is not profitable.
Walgreens will close about 1,200 stores over three years as the drugstore chain seeks to turnaround its struggling U.S. business. https://t.co/MLMyHTTtma
— The Associated Press (@AP) October 15, 2024
Walgreens will close about 1,200 locations over the next three years as the drugstore chain seeks to turnaround a struggling U.S. business that contributed to a $3 billion quarterly loss.
Company shares soared Tuesday after Walgreens detailed the plan and also reported better-than-expected quarterly results.
The company said Tuesday that about 500 stores will close in the current fiscal year and should immediately support earnings and free cash flow. Walgreens didn’t say where the store closings would take place.
Company leaders said the initial wave of closings will take place mostly in the back half of its fiscal year, which started last month. Walgreens will prioritize poor-performing stores where the property is owned by the company, or where leases are expiring.
Walgreens operates about 8,500 stores in the United States and a few thousand overseas. All of the stores that will be closed are in the United States.
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If you do the math, that's 14% of Walgreens locations.
So much for the opportunity economy for those employees and the neighborhoods they serve.
Wonder if Rep. Ayanna Pressley is going to scream about racial discrimination again.
Bidenomics is awesome! Let’s vote for 4 more years of it! #LoserThink
— Sherri (@SociallySherri) October 15, 2024
Even Tim Walz said we can't tolerate four more years of this. Twice.
This is the direct result of the destruction the Democrats have brought upon this country.
— Shem Horne (@Shem_Infinite) October 15, 2024
We're sure the unfettered shoplifting that takes place in some cities has an impact on the profitability of Walgreens locations.
This writer's local Walgreens has a lot of things locked up now, requiring an employee to retrieve them for you.
Is this a part of that “opportunity economy “?
— Omega Lloyd (@OmegaReady) October 15, 2024
Everyone has “the opportunity “ to find another job?
The 'opportunity' to be unemployed.
They should just get out of the states were shoplifting is rampant and even legal and they should recoup their losses fairly quickly.
— Booker9e (@booker9e) October 15, 2024
These are probably the stores they'll be closing first.
They will close stores in the "disadvantaged" (high crime " areas, which were loss leaders in the first place. Once again the federal government will step in and force them to open stores in these same areas a few years from now. We saw this in the 90's, rinse, repeat.
— ColdBoreZero (@Christo64255952) October 15, 2024
What's the definition of insanity again?
This is pretty wild—almost 15% of Walgreens stores nationwide are closing.
— Billy Binion (@billybinion) October 15, 2024
Obviously a complex issue, but I have to wonder how locking up nearly every useful item contributed to this. Every time I'm at a drugstore, I essentially need a personal shopper to follow me around. https://t.co/zPtjxtYJCw
This is pretty wild—almost 15% of Walgreens stores nationwide are closing.
— Billy Binion (@billybinion) October 15, 2024
Obviously a complex issue, but I have to wonder how locking up nearly every useful item contributed to this. Every time I'm at a drugstore, I essentially need a personal shopper to follow me around. https://t.co/zPtjxtYJCw
It's a big part, and stores have to do that because shoplifters are costing them billions, too.
Walgreens is closing around 1200 stores in North America over next 3 years. 7-Eleven is shutting down almost 450 stores… https://t.co/CPfs7lAhNI
— Carol Roth (@caroljsroth) October 15, 2024
This is fine. Totally fine.
I'd be the least bit shocked if the Walgreens near me is one of the 1200. They have the most inconvenient pharmacy hours to begin with (10-6 Mon-Fri only) so it's only inevitable IMO https://t.co/ISxvIua6n2
— What the Mel?! (@piney61) October 15, 2024
This writer has also run into problems at Walgreens, specifically times when no pharmacist was available, so she couldn't pick up prescriptions because of Wisconsin law.
Cue the wails of " racist policy" as some communities lose the drug stores they shoplifted for years https://t.co/aZHp0tnk28
— Classified (OG) ™️ - (@classiflied77) October 15, 2024
Yeah, that's probably coming.
It turns out that you dont actually need a walgreens and cvs at every intersection https://t.co/gNBWbgXaxm
— The CEO (@AntiYankeeGFY) October 15, 2024
Back in the late 1990s, this writer worked at Walgreens and during orientation, it was made clear a Walgreens on every corner was the goal.
Even as a teenager, she knew that was an unsustainable idea.
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