![]() ![]() CVS acquired health insurer Aetna, and Walgreens took a majority stake in primary care network VillageMD.īut this strategy requires fewer brick-and-mortar retail stores. “Theft appears to be hitting drug retailers more than other categories,” Silverman said.ĭrugstores are trying to pivot into the more lucrative health care industry in recent years and become primary care providers. But this has made the customer experience worse. Theft has become a problem for drugstores in some locations, and some stores have resorted to locking up products to prevent theft. ![]() “The pandemic was not a strong time for drugstores,” said David Silverman, a senior director at Fitch Ratings. Walgreens and other drug stores have closed thousands of stores in recent years. The front end of drugstores, where they sell snacks and household staples, also face pressure.ĬVS, Walgreens and Rite Aid are eliminating some locations as they face rising competition for these items from Amazon, big-box stores with pharmacies like Walmart, and Dollar General in rural areas.Īlthough drugstores benefited during the pandemic from people getting Covid-19 vaccines, fewer consumers visited stores to shop and prescription volumes fell because people were getting fewer elective procedures. But their profits from that segment have declined in recent years because of lower reimbursement rates for prescription drugs. The majority of drugstores’ sales comes from filling prescriptions. Rite Aid’s bankruptcy reflects long-term struggles in the retail pharmacy industry. It comes amid walkouts by Walgreens pharmacists and technicians around the country and at CVS stores in Kansas City over low pay and understaffed stores. Why Walgreens pharmacy workers are walking off the job ![]()
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |