Walgreens Closing Stores in “Winning Economy”!

After reading this morning’s business news and seeing that Barneys New York is closing all of its stores except the one on Madison Ave in New York and filing chapter 11 AND Perkins & Marie Callender’s LLC is filing for chapter 11 and trying to sell off assets…I thought…well we are still over stored and have too many restaurants in that mid-tier…a little thinning of the herd so to speak. sigh but…

Now comes news that in the president’s robust, winning, best economy ever, Walgreens is paring 200 stores from its portfolio.

Walgreens plans to close approximately 200 U.S. stores, the company announced Tuesday in an SEC filing.

Granted, Walgreens is probably over-stored in the US…they certainly seem to be in Milwaukee…but this isn’t a good sign in what we are being told is a booming economy!

Just more winning [sarcasm]!

P.S. CVS closed 46 stores earlier this year.


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2 thoughts on “Walgreens Closing Stores in “Winning Economy”!

  1. Walgreen’s plan was to place a drug store on every corner to gain market share. The stores they are closing are their “low performing” stores. All brick and mortar stores are facing the same problem, no one is shopping in the stores. Internet shopping has taken over. UPS, Fed Ex and Amazon trucks are constantly stopping at homes on our block due to online shopping. Yes, the economy is booming!!!

  2. I’m thoroughly enjoying my ringside seat watching Corporate Retail America implode – the end game of its greedy quest for ever greater “market share.” S’pect the internet shopping craze also will fade. I, like many others, having been burned a few times, am learning to distrust that which I cannot see before purchase. Hopefully this will leave room for a resurgence of the time-honored model of local merchants serving, being served by and being a part of their communities. It can’t happen soon enough.

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