The abundance of Walgreens and CVS Health stores makes them convenient for whenever Shriya Raghavan, a research associate based in Philadelphia, needs to pick up necessities like gum, deodorant and soap. But she said she often has to wait for employees to unlock cabinets or stand in lengthy lines to pick up prescriptions as pharmacists juggle tasks. Those are just some of the ways Walgreens and CVS are falling out of favor with consumers, in a trend that has hit their profits and stock prices and forced them to reconsider their strategies. They are symptoms of deeper issues plaguing retail pharmacy chains, which pivoted from years of store expansions to shuttering hundreds of locations across the U.S. to shore up profits.
Read the full article: Here’s Why Walgreens and CVS Retail Pharmacies Are Struggling — And What They’re Doing to Fix It //
Source: https://www.cnbc.com/2024/08/18/why-walgreens-cvs-retail-pharmacies-are-struggling.html