Walgreens plans store closures as CEO says consumers ‘stunned’ by prices ...Middle East

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Walgreens plans store closures as CEO says consumers ‘stunned’ by prices
source : NY Times News ( Middle East ) () 45
Walgreens is planning potentially sweeping store closures as it faces what its CEO called a “challenging” environment for pharmacies and U.S. consumers. The pharmacy chain on Thursday morning announced quarterly earnings that fell short of Wall Street expectations. Walgreens’ stock quickly fell about 15% in pre-market trading. In an interview with CNBC, CEO Tim Wentworth said the company now forecasts weaker consumer spending for the rest of the year. ″We assumed…in the second half that the consumer would get somewhat stronger” but “that is not the case,” Wentworth said.  “The consumer is absolutely stunned by the absolute prices of things, and the fact that some of them may not be inflat

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