DIRS.INFO The most relevant business & tech news

☆ Walgreens says it will close 1,200 stores by 2027, as earnings top estimates
▼ + stars: | 2024-10-15 | by ( Annika Kim Constantino | ) www.cnbc.com time to read: +3 min

A person rides past a Walgreens truck, owned by the Walgreens Boots Alliance, in Manhattan, New York City, on Nov. 26, 2021. The retail drugstore chain also said it plans to close roughly 1,200 stores over the next three years, which includes 500 in fiscal 2025 alone. The company said those closures will be "immediately accretive" to its adjusted earnings and free cash flow. In June, Walgreens said it intends to close a "significant" number of its underperforming stores by 2027. Walgreens anticipates adjusted earnings per share of $1.40 to $1.80 in the coming fiscal year.

Persons: Tim Wentworth Organizations: Walgreens, Walgreens Boots Alliance, LSEG, Wall Street Locations: Manhattan , New York City, U.S

☆ Locked-up merchandise is turning off shoppers at CVS, Walgreens, and other big drugstores
▼ + stars: | 2024-08-11 | by ( Alex Bitter | Dominick Reuter | ) www.businessinsider.com time to read: +6 min

Read previewDrugstores like CVS, Walgreens, and Rite Aid have long been the spots where you can pick up essentials like a can of soup or some Tylenol in addition to your prescriptions. Another appears to show a Rite Aid store with an even wider selection of locked-up merchandise, including tortilla chips and microwavable ramen. Rite Aid did not immediately respond to a request for comment. She said she even avoids taking orders that involve shopping at one particular Walgreens store due to all the locked-up goods there. Do you work at CVS, Walgreens, Rite Aid, or another drugstore chain and have a story idea to share?

Persons: —, that's, Neil Saunders, Saunders, Duane Reade, Walgreens execs, Tim Wentworth, GlobalData's Saunders, dreuter@businessinsider.com Organizations: Service, Walgreens, Rite, Business, Global, CVS, Rite Aid, Companies, Walmart, Target Locations: Brooklyn , New York, Nevada

☆ Why your local pharmacy may be closing
▼ + stars: | 2024-06-28 | by ( Dominick Reuter | ) www.businessinsider.com time to read: +3 min

Read previewThursday's news that Walgreens will close a "significant" number of underperforming stores threw a spotlight on struggles facing the retail pharmacy industry. Related storiesIn short, regardless of which national pharmacy brand you pick, there's a fair chance the location in your neighborhood could close, if it hasn't already. For starters, retail pharmacies make money in two key ways: by dispensing prescription medication and ancillary medical services, and by selling an assortment of merchandise in their "front of house" retail stores. But even if things were going well for Walgreens, Wentworth suggested there would likely still be quite a few closures. "I think most of us knew — when I was in the PBM [pharmacy benefit management] business — I knew that retail pharmacy was largely overbuilt for where the future was going to be."

Persons: —, Tim Wentworth, Wentworth, Manmohan Mahajan, execs, Neil Saunders Organizations: Service, Walgreens, Business, CVS

☆ CNBC Daily Open: Roaring Kitty, Nike flops, inflation on deck
▼ + stars: | 2024-06-28 | by ( Abid Ali | ) www.cnbc.com time to read: +3 min

A trader works on the floor of the New York Stock Exchange (NYSE) during morning trading on March 4, 2024 in New York City. This report is from today's CNBC Daily Open, our international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. Nike warningShares of Nike plunged 12% in extended trading after the sneaker giant slashed its full-year guidance, anticipating a 10% drop in sales for the current quarter. Roaring Kitty, back againChewy shares experienced a rollercoaster ride on Thursday, soaring as much as 34% following a cryptic post by meme stock influencer Roaring Kitty, before falling back into negative territory.

Persons: Matthew Friend, Nike's, Tim Wentworth, Kitty, CNBC's Michelle Fox Organizations: New York Stock Exchange, CNBC, Dow Jones, Nasdaq, Micron, Nvidia, Treasury, Nike, Walgreens, BCA Research Locations: New York City, U.S, Israel, Lebanon, Greater China, China

☆ Walgreens slashes profit guidance, citing 'challenging' environment for consumers and pharmacies
▼ + stars: | 2024-06-27 | by ( Annika Kim Constantino | ) www.cnbc.com time to read: +2 min

A person rides past a Walgreens truck, owned by the Walgreens Boots Alliance, in Manhattan, New York City, on Nov. 26, 2021. Walgreens on Thursday reported fiscal third-quarter earnings that fell short of expectations and slashed its full-year adjusted profit outlook, citing a "challenging" environment for pharmacies and U.S. consumers. Still, Walgreens topped revenue estimates for the quarter on strong performance in its health-care segment. The company reported a net income of $344 million, or 40 cents per share, for the quarter. The company has not offered that guidance since October, when it said it expected $141 billion to $145 billion in sales.

Persons: Tim Wentworth, we've, Wentworth Organizations: Walgreens, Walgreens Boots Alliance, CNBC, LSEG Locations: Manhattan , New York City

☆ Walgreens CEO says 'human interface' will help the chain beat Amazon
▼ + stars: | 2024-03-28 | by ( Julie Coleman | ) www.cnbc.com time to read: +2 min

Walgreens CEO Tim Wentworth told CNBC's Jim Cramer his retail pharmacy chain can rival Amazon because of its human-to-human interactions with customers. Wentworth said he loves Amazon, and the online retail giant has set the bar and driven innovation in the industry. But he emphasized that its consumer presence is really what makes the company competitive against Amazon. Over the past few years, Walgreens' business has been hurt by decreasing demand for Covid products, low pharmacy reimbursement rates, competition from online retailers and discontent from pharmacy staff. He also said Walgreens is decreasing pharmacists' "low-value work," such as pill counting, by using micro-fulfillment centers.

Persons: Tim Wentworth, CNBC's Jim Cramer, Wentworth Organizations: Walgreens, Consumers, Amazon Locations: U.S

☆ Walgreens is following Mark Cuban's blueprint as it embarks on a big strategy shift for prescription drugs
▼ + stars: | 2024-01-05 | by ( ) www.businessinsider.com time to read: +5 min

Pharmacies are changing how they get paid, and Walgreens wants a piece of the action. It's a departure from the traditional, complicated way drugs are paid for, and proponents say it could make drug pricing more transparent and predictable. It's not a given patients will pay less for drugs at the pharmacy counter under this kind of model. These companies are taking cues from Mark Cuban's Cost Plus Drugs, which is starting to gain traction in the market. The big question is whether Walgreens can compete with CVS and other pharmacies in delivering those extra pharmacy and healthcare services.

Persons: Tim Wentworth, Mark, Wentworth, Borja, Hojas, they're, Caremark, Brian Tanquilut, Tanquilut, CVS, Cigna, Mark Cuban's, It's, Rosalind Brewer Organizations: Walgreens, Business, CVS Health, Getty, CVS, Jefferies, Health Locations: California

☆ Walgreens is cancelling corporate bonuses as big pharmacies face increasing difficulties
▼ + stars: | 2023-11-02 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +7 min

Walgreens on Tuesday sent out a notice to staff announcing that annual bonuses would not be funded. Tuesday was the second day of a planned three-day series of scattered walkouts by Walgreens pharmacy staff. A Walgreens representative clarified to CNN that only managers were eligible for bonuses at pharmacies. “We are building on the company’s pharmacy strength and trusted brand to evolve healthcare delivery. Stefano Pessina, the former Walgreens CEO and current executive chair of the board, worth nearly $7 billion, made more than $8 million in compensation last year, according to Walgreens compensation filings with the Securities and Exchange Commission.

Persons: Manmohan Mahajan, ”, Fraser Engerman, Tim Wentworth, Neal Sample, Rosalind Brewer, Vincent Alban Vincent Alban, Reddit, Stefano Pessina, Shane Jerominski Organizations: New, New York CNN, Walgreens, Employees, CNN, Walgreens Boots Alliance, ”, Rite, CVS, REUTERS, Reuters, Securities and Exchange Commission, Labor, Reuters Labor, Workers, American Pharmacists Association Locations: New York, Deerfield , Illinois, U.S, Southern California, Deerfield, Il, Arizona , Washington , Massachusetts, Oregon

☆ New Walgreens CEO Needs to Cut the Dividend
▼ + stars: | 2023-10-12 | by ( David Wainer | ) www.wsj.com time to read: 1 min

This copy is for your personal, non-commercial use only. Distribution and use of this material are governed by our Subscriber Agreement and by copyright law. For non-personal use or to order multiple copies, please contact Dow Jones Reprints at 1-800-843-0008 or visit www.djreprints.com. https://www.wsj.com/business/retail/new-walgreens-ceo-needs-to-cut-the-dividend-d69bb2e4

Persons: Dow Jones Organizations: walgreens

☆ Incoming Walgreens CEO doesn't mention walkouts as he praises pharmacy staff
▼ + stars: | 2023-10-12 | by ( Annika Kim Constantino | ) www.cnbc.com time to read: +3 min

Incoming Walgreens CEO Tim Wentworth on Thursday briefly praised the company's pharmacy staff, but made no mention of the three-day protest walkouts they held this week over poor working conditions. The walkouts reflect rising dissatisfaction among pharmacy employees, who have complained for years about having to grapple with understaffing and burdensome work expectations imposed by corporate management. The experiences he's had with employees made his decision to join Walgreens "frankly, an easy one," Wentworth added. A Walgreens spokesperson touted the company's pharmacy teams in the statement, noting that they work "tirelessly to serve our communities." Walgreens is engaged and listening to the concerns of pharmacists and pharmacy technicians, the spokesperson said.

Persons: Tim Wentworth, Wentworth, he's, reimbursements Organizations: Walgreens Locations: Rochester , New York, Rochester

Stores are starting their busiest time of year as customers look for help with colds and the flu. Some drugstores have addressed their challenges by adding employees at busy hours. Chris Adkins said he left his job as a pharmacist with a major drugstore chain a couple years ago because of the stress. Labor strife and staffing shortages in health care are not isolated to drugstores, as the recent Kaiser Permanente strike shows. All told, CVS touts in a pharmacy counter brochure that the company can offer more than 15 vaccines to customers.

Persons: haven’t, Chris Adkins, Adkins, ”, “, drugstores, Richard Dang, Dang, John Staed, Rosalind Brewer, Brewer, Jonathan Marquess, Marquess, Jen Cocohoba, ” Cocohoba, Josh Funk Organizations: University of Southern, California Pharmacists Association, Customers, CVS, Walgreens, Labor, Permanente, National Community Pharmacists Association, University of California San, AP, Associated Press Health, Science Department, Howard Hughes Medical Institute’s Science, Educational Media Group Locations: University of Southern California, Pelham , Alabama, Georgia, University of California San Francisco

☆ Walgreens says cooler screens caught fire and showed the wrong prices in its stores
▼ + stars: | 2023-10-02 | by ( Alex Bitter | ) www.businessinsider.com time to read: +3 min

Cooler Screens, the company behind the displays, planned to roll out the screens in hundreds of Walgreens locations. Walgreens had authorized Cooler Screens to install the technology in 700 stores, according to the Wall Street Journal. TikTok users have posted videos over the past couple of years showing problems with Cooler Screens displays at stores. Cooler Screens sued Walgreens in June, saying the retailer violated its contract with the startup. Cooler Screens told Insider that the issues were caused by "Walgreens' outdated and poorly maintained electrical system."

Persons: —, Walgreens, Roz Brewer's, Brewer Organizations: Walgreens, Service, Wall Street, CVS

☆ Stocks making the biggest moves midday: Tesla, Nike, Carnival, Nvidia and more
▼ + stars: | 2023-09-29 | by ( Brian Evans | ) www.cnbc.com time to read: +3 min

Tesla — Stock in the electric vehicle company added 1.5% in midday trading Friday. Canaccord Genuity reiterated a buy rating on the EV stock on Thursday ahead of vehicle deliveries data. Elsewhere, Citi remained neutral on Tesla and reduced its vehicle delivery forecast to 450,000 from 468,500. Bumble — The online dating platform added 3% after Loop Capital Markets upgraded the stock to buy from hold. Corcept Therapeutics — Shares slumped 17% in midday trading as the firm contends with ongoing litigation against Teva Pharmaceuticals.

Persons: Elon Musk, Canaccord Genuity, Tim Wentworth, Roz Brewer, Bumble —, Cushing, Teva, — CNBC's Pia Singh, Alex Harring, Michelle Fox, Hakyung Kim, Darla Mercado Organizations: U.S, Senate, Intelligence, Capitol, Washington , D.C, Citi, Barclays, Anheuser, Busch InBev — U.S, LSEG, Cruise, Wonder Group, Nvidia —, Blackwell, Nvidia, Nike —, Nike, Walgreens, Bloomberg, Therapeutics, Teva Pharmaceuticals, Texas, Northcoast Research Locations: Washington ,

☆ Digital screens are covering cooler doors at stores like Kroger, CVS, and Walgreens, and they're driving TikTokers nuts
▼ + stars: | 2023-09-18 | by ( Alex Bitter | ) www.businessinsider.com time to read: +3 min

Retailers like Kroger and Walgreens are installing screens on cooler doors to display ads. Many are created and installed by Cooler Screens, a company founded by a former Walgreens CEO. Cooler Screens says it plans to reach 200 million customers with its digital doors by the end of this year. Cooler Screens, CVS, and Walgreens did not immediately respond to a request for comment on the TikTok videos from Insider. AdvertisementAdvertisementHave you encountered digital cooler screens while shopping?

Persons: cinema_singularity, trevercarreon, aren't, donwitmadness, You've, there's Organizations: Kroger, Walgreens, Service, CVS, Walgreens CEO, Wall Locations: Wall, Silicon

☆ Walgreens just made another big bet on healthcare, weeks after its CEO exited. A top exec shares how the company plans to partner with doctors.
▼ + stars: | 2023-09-12 | by ( ) www.businessinsider.com time to read: +5 min

In an interview with Insider, the head of Walgreens Health shared his vision for the business. It spent $5.2 billion to buy a majority stake in the primary-care company VillageMD and invested $3.5 billion to help the clinic chain acquire an urgent-care company. The company reported in June an operating loss of $1.4 billion in its Walgreens Health business in the first nine months of its fiscal year. Walgreens pharmacists could work with VillageMD doctors to better care for patients with chronic health conditions, he said. Integrating Walgreens' healthcare businessesWalgreens' strategy for how it would tie its growing number of individual healthcare businesses together hasn't been clear, but Driscoll gave some clues.

Persons: Rosalind Brewer, Brewer, James Kehoe, John Driscoll, Walgreens, Driscoll, Pearl Organizations: Walgreens, Walgreens Health, Shields Health Solutions, Pearl Health, CVS, Health, Amazon, Walmart Locations: Shields, Pearl

☆ Walgreens CEO steps down
▼ + stars: | 2023-09-01 | by ( Parija Kavilanz | ) edition.cnn.com time to read: +2 min

New York CNN —Walgreens Boots Alliance on Friday said that CEO Rosalind Brewer has stepped down less than three years after taking the helm at the pharmacy chain. Walgreens’ board named Ginger Graham, a member of the board, as interim CEO as the company launches a search for a permanent CEO. Walgreens slashed its full-year profit guidance in June, warning of softening consumer spending and a pullback in demand for Covid vaccines. Under Brewer, Walgreens had implemented cost-saving measures in an effort to boost profitability in its healthcare segment. Walgreens says it’s a digital-first experimental store to benefit customers and not designed to deter theft, Walgreens says.

Persons: Rosalind Brewer, Brewer, Ginger Graham Organizations: New, New York CNN, Walgreens Boots Alliance, Fortune, Walgreens, Roosevelt, Dick’s Sporting Goods Locations: New York, United States, United Kingdom, Chicago

☆ Walgreens CEO Brewer steps down less than three years into job
▼ + stars: | 2023-09-01 | by ( ) www.reuters.com time to read: +2 min

Pigeons are seen resting on signage for Walgreens, owned by the Walgreens Boots Alliance, Inc., in Manhattan, New York City, U.S., November 26, 2021. REUTERS/Andrew Kelly/File Photo Acquire Licensing RightsSept 1 (Reuters) - Walgreens Boots Alliance (WBA.O) said on Friday CEO Rosalind Brewer has stepped down less than three years since she took the top job at the pharmacy chain operator. The company's board and Brewer had mutually agreed that she would step down, Walgreens said, without providing further details. Brewer, a former Starbucks (SBUX.O) executive, joined Walgreens in 2021. Walgreens' shares have lost about 47% of their value since March 2021, when Brewer became CEO.

Persons: Andrew Kelly, Rosalind Brewer, Brewer, Ginger Graham, Manas Mishra, Shounak Dasgupta Organizations: Walgreens, Walgreens Boots Alliance, Inc, REUTERS, Starbucks, Thomson Locations: Manhattan , New York City, U.S, COVID, Bengaluru

☆ Walgreens CEO Roz Brewer steps down after more than 2 years in the role
▼ + stars: | 2023-09-01 | by ( Mike Calia | ) www.cnbc.com time to read: +1 min

Walgreens Boots Alliance said Friday that Roz Brewer had stepped down as the company's chief executive. Brewer and Walgreens were in a rough patch leading up to Friday's announcement. In June, the company reported fiscal third quarter earnings that missed Wall Street expectations for the first time since July 2020. Walgreens said it is searching for a new CEO. A veteran of Walmart and Starbucks, Brewer had led Walgreens since March 2021.

Persons: Roz Brewer, Brewer, Ginger Graham Organizations: Walgreens Boots, Walgreens, Walmart, Starbucks

☆ Senate Democrats urge Walmart, Costco, Albertsons and Kroger to sell abortion pill mifepristone
▼ + stars: | 2023-03-14 | by ( Spencer Kimball | ) www.cnbc.com time to read: +4 min

Erin Hooley | Tribune News Service | Getty ImagesSenate Democrats called on Walmart , Costco , Albertsons and Kroger to sell the prescription abortion pill mifepristone and clearly let customers know how to get it at their pharmacies. The companies have not publicly stated yet whether they plan to sell mifepristone at their pharmacies. The 17 senators told Walmart CEO Doug McMillon, Costco CEO Craig Jelinek, Albertsons CEO Vivek Sankaran and Kroger CEO Rodney McMullen that they are frustrated the companies have not yet publicly indicated whether they will sell mifepristone. Major retailers in the U.S. have been thrust in the middle of the nation's deep divisions over abortion as they weigh whether to sell mifepristone. Walgreens has come under fire after it told the GOP attorneys general that it would not sell mifepristone in their states.

☆ Walgreens CEO Bets on Doctors Over Drugstores in Search for Growth
▼ + stars: | 2023-02-19 | by ( Sharon Terlep | Photographs Taylor Glascock For The Wall Street Journal | ) www.wsj.com time to read: 1 min

Deerfield, Ill.—A year into her job as Walgreens Boots Alliance Inc.’s chief executive, Rosalind Brewer realized the company’s board wasn’t entirely sold on her plan to save its ailing drugstore business. So she took directors on the road.

☆ Walgreens CEO Roz Brewer wants to make getting healthcare as easy as going to your neighborhood pharmacy
▼ + stars: | 2022-12-28 | by ( Marguerite Ward | ) www.businessinsider.com time to read: +5 min

Brewer, 60, is chasing a new first of sorts in her role at Walgreens: turning the $33 billion pharmacy chain into a destination healthcare company. After stepping into power at America's second-largest pharmacy during the deadliest disease event in US history, Brewer has been pursuing a wide-ranging strategy to remake the company. The company's larger rival, CVS Health, is following a similar strategy of making healthcare a bigger part of its business. "Dispensing of pharmaceuticals is not going to be our long-term growth avenue," Brewer said at a 2022 healthcare-industry conference, according to FierceHealthcare. But healthcare is complex and even the company's long-standing pharmacy business comes with challenges.

☆ Walgreens beats sales expectations, as it expands its health-care business
▼ + stars: | 2022-10-13 | by ( Melissa Repko | ) www.cnbc.com time to read: +4 min

Walgreens Boots Alliance on Thursday exceeded fiscal fourth quarter sales and earnings expectations, as the drugstore chain turns itself into a more health-care focused company. At the end of the quarter, Walgreens had a total of 334 doctor offices with VillageMD. Covid vaccines, which boosted Walgreens' sales and foot traffic, have fallen off significantly. It had fourth quarter sales of $5.1 billion, a drop of 6.6% from the year-ago period. Its U.S. digital sales growth grew 14% in the fourth quarter, on top of an 82% increase in the year-ago period.

Search resuls for: "Walgreens CEO"

22 mentions found