This disaster was already in play before Roz took the position. The C-Suite , the board of directors, etc, and the majority stockholder already made the decision regarding the direction they wanted to go but did not put the right people in the right positions to steer the ship.
Walgreens played it too conservative for way too long. Additionally, waiting too long to invest in new technology put them so far behind that they had to do a digital transformation and a company restructuring at the same time in a panic. Yes. Amazon was and still is a threat to them and they discounted it. Now significantly reducing the retail side of the business and increasing medical offices (village md) at the same time is crazy and desperate.
Don't get me started on their customer support line. There is no target service level for support at all.
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If walgreens employees had any self respect, they would quit but most won't. Must be impressed with the current so called leadership and where this company is going. How sad.
Walgreens is done
They laid off people (corporate and stores) in order to cut costs because of what? Was it to buy more stores, the opi--d lawsuit or VillageMD or some other idea they are working on? What is is Walgreens?
Quite honesty, they should stop buying things and stabilize their current business structure before going and buying other companies. They don't have the money to do this if they can't keep their employees or upskill / reskill them.
Stock was at 26.61 last time I looked.
NOT ‘the same playbook CVS and Walmart are using’.
Stock price RB_Day1 v Today:
WBA $59 now $29
CVS $73 now $72
WMT $135 now $154
Hardly the same, not even close.
How does this individual or any of the traveling 🤡 show maintain 7 figure paying roles?? We all know how… we just can’t say it🤫🫣😉🙄
- I am shocked by the amount of wrong decisions one person can make. Roz is destroying the business
Also worth considering, we steadily open new stores. I haven't seen articles on that or it being mentioned.
I was responding to the original post about store closings - again normal business to close unprofitable stores or locations where lease costs become exorbitant.
I agree with you that the abysmal performance and steady downward stock decline is unacceptable by any measure and Roz's current playbook is, unfortunately, the same that Walmart and CVS are using. Nothing unique to benefit Walgreens in the short or long-term.
Not necessarily a fan of our current leadership but most of these opi--d lawsuits are left over from Greg Wasson's time when Walgreens was dispensing C2's with reckless abandon.
And the answer that it is regular business is a COP OUT answer. Is the stock going to $30 a share part of business?? The stock has fallen 21.75% year-to-date (YTD), hitting price levels not seen since 2010.
Walgreens shares have time traveled back 13 years. Is that part of regular business happenings too, along with all the lawsuits?? All the lawsuits part of regular business? Totally UNREAL.
Closing unprofitable stores is a part of regular business.