Walgreens is closing stores; CVS is announcing layoffs. Here’s why
*Too many stores, too much junk
https://www.npr.org/2024/10/16/nx-s1-5154129/cvs-and-walgreens-closing-stores-why
And their corporate over-extension will be touted as economic woe.
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Big picture: Drugstores have pinned their struggles on the rise of online retailers like Amazon and population decline. But an FTC report also lays some blame on the three giant pharmacy benefits managers—companies that act as middlemen to negotiate drug prices—for “squeezing” pharmacies by lowering reimbursement rates.—MM
S: Morning Brew