Dana Schulz is an experienced editor, writer, and content strategist who is just as likely to be crunching the latest housing market data as she is to be sharing all the best new kitchen gadgets at Target. She has written about real estate, apartment living, home decor, and history for more than 14 years.
Live your best life with expert tips and news on health, food, sex, relationships, fashion and lifestyle. Subscribe to Best Life's newsletter now.Our content is fact checked by our senior editorial staff to reflect accuracy and ensure our readers get sound information and advice to make the smartest, healthiest choices.
We adhere to structured guidelines for sourcing information and linking to other resources, including scientific studies and medical journals.Walgreens and CVS may be the two largest pharmacy chains in the U.S., but this doesn't mean they've been immune to thethat's been hitting brick-and-mortar stores since the pandemic. Retail theft, online shopping, and steep competition from discount sellers have all played a part. Since the spring of 2022, CVS has shuttered a whopping 900 locations, and in January, the company announced that it would also be, Walgreens shared that it would be closing 1,200 of its 8,600 U.S. locations, 500 of which are set to cease operations this year. However, this week, both pharmacies made major additional announcements that could affect how you shop and retrieve your prescriptions.After nearly 100 years as a publicly traded company, Walgreens Boots Alliance announced this week that it was being sold to private equity firm Sycamore Partners in a $10 billion deal. The move is an attempt to improve the pharmacy chain's financial position, which has weakened considerably over the past decade due to "lower prescription reimbursements and heightened retail competition," notes To this point, Walgreens' first-quarter results released in January showed a $245 million operating loss, compared to $39 million the year prior. And"While we are making progress against our ambitious turnaround strategy, meaningful value creation will take time, focus and change that is better managed as a private company," said Walgreens CEO. "Sycamore will provide us with the expertise and experience of a partner with a strong track record of successful retail turnarounds." But what does all this mean for customers? That remains to be totally seen, though going private means the company can make decisions without worrying about public markets., the roughly 5,000-square-foot locations will have traditional pharmacy counters and "health-related products such as over-the-counter cough and pain medications or first-aid care." All other items, including groceries, beauty supplies, and greeting cards, will be absent.To start, CVS will open 12 of these smaller pharmacies over the next year. Though they have not released location specifics, CVS spokesperson , "This work is really focused on introducing or adding pharmacy access in communities that are lacking." The newspaper gives the example that CVS would likely open such a store in a neighborhood where residents are already getting their household items at
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Live updates: Trump could announce tariffs on major trading partners todayDuring the AI Action Summit in Paris, Vice President Vance told world leaders that the U.S. would be ‘the gold standard’ in AI technology, adding that the emerging technology will make Americans ‘more productive, more prosperous and more free.”
Read more »
Major Companies Announce Layoffs in 2023Multiple companies across various sectors announce layoffs in early 2023, impacting thousands of employees. From tech giants like Meta and Blue Origin to energy companies like Chevron and retail giants like Kohl's, businesses are restructuring to meet evolving market conditions.
Read more »
Newsom to announce 'major economic initiative' in wildfire recovery processGov. Gavin Newsom is set to provide an update on California's fire recovery and rebuilding efforts following the devastating Palisades and Eaton fires
Read more »
LOOK: Cincinnati Reds Announce 50/50 Raffle and Major Giveaways Ahead of Opening DayLOOK: Cincinnati Reds Announce 50/50 Raffle and Major Giveaways Ahead of Opening Day. Opening Day tickets, game experiences and autographed jerseys and photos are all up for grabs for Reds fans leading up to and on Opening Day!
Read more »
Big Brother winner Mike 'Boogie' Malin arrested at CVS after allegedly shoplifting from another CVS'Big Brother' season 7 winner Mike 'Boogie' Malin was arrested at a CVS store after allegedly shoplifting from a different CVS location, according to authorities.
Read more »
As Walgreens Preps For New Owner, CVS Health Tries Smaller DrugstoresCVS Health is rolling out a new and smaller pharmacy format amid hundreds of drugstore closures across the retail pharmacy industry and investor pressure to boost profits.
Read more »