Closures would depend on the location's profitability, being too close to each other or stores struggling with theft, the CEO said.
Thursday revealed the company is looking to close "certain underperforming U.S. stores" as it looks to reset., CEO Tim Wentworth said "a significant share of its roughly 8,600 stores" will close. He added the number of stores set to close has not been decided on.
Closures would depend on the location's profitability, being too close to each other or stores struggling with theft, he said. We continue to face a difficult operating environment, including persistent pressures on the U.S. consumer and the impact of recent marketplace dynamics which have eroded pharmacy margins," Wentworth said in a news release. "Our results and outlook reflect these headwinds.
According to the news release, Wentworth's main focus will be improving retail pharmacy which he said is "central to the future of healthcare."in a Washington D.C. neighborhood was forced to close after being the target of multiple retail thefts. The inside of the store looked like CVS was having a going-out-of-business sale, when in reality the shelves were empty due to thieves ransacking the drugstore."Through our experience managing Walmart Health centers and Walmart Health Virtual Care, we determined there is not a sustainable business model for us to continue," the company said in a
Stores Close Profitability Theft Wentworth Pharmacy Retail
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