Mark Cuban Cost Plus Drug Company, PBC’s Post

📈 Subscribers, our EVP Michael Blackburn has the scoop on Walgreens : Despite challenges 2Q24 sales surged by 6.3%, but with a twist! Dive into the details of the roller-coaster quarter, from improved pharmacy sales to surprising setbacks. https://shorturl.at/mvRZ4 🛒💊 #Walgreens #WBA #QuarterlyResults #RetailPharmacy #Healthcare #EarningsReport

In their March 28th call, Walgreens (WBA) discussed some of the challenges with VillageMD and their closures of 160 stores. Our Expert Insights include a call with a former VP at Walgreens from last July giving their perspective on the challenges of scaling and overall thoughts on the industry. Call Summary: 1. In the expert's opinion, pharmacy reimbursement is very challenging and there are few cost cuts available to offset 2. Believes WBA has ~2,000 too many stores 3. Thinks there will be challenges with scaling VillageMD

You may have heard of The VMC Pharmacy Program and Buying Group, but did you know that that VMC is a subsidiary of Associated Wholesale Grocers - the largest cooperative wholesaler to independently owned supermarkets? Learn more about us at vmcpharmacyprogram.com or AWG at awginc.com! #independentpharmacy #associatedwholesalegrocers #pharmacybuyinggroup #pharmacyprogram Bob Pessel Adam Salus Tyler Woods PharmD Erica Fett

Should shoppers be able to sue grocery chains that close stores (without notice)?   Before you answer: * Would you exclude single-unit operators? Where would you draw the line for grocery chain size? * Is six months enough notice? Too much? * And couldn't the same argument be made for pharmacies?

Check out this article on Five retail pharmacy trends for4 2024 from DSN. A quick recap of the article: The pharmacy retail industry faces a challenging 2024 with labor pressures and the closure of store locations, yet there's optimism due to potential economic improvement and hopeful legislation for prescription drug pricing transparency. Despite expectations of a slowing economy, analysts predict no recession, citing factors like low unemployment and decreasing consumer goods prices boosting confidence. Pharmacy labor issues remain as the industry seeks to balance wage pressures with the need for additional staffing to improve working conditions. Additionally, trends to watch include the expansion of healthcare services by retail pharmacies, evolving store formats, and legislative efforts aimed at reforming pharmacy benefit managers (PBMs) to make drug pricing more transparent. Five retail pharmacy trends for 2024 | Drug Store News https://bit.ly/3Os8jDQ

People ask how on earth these big retailers go broke ?! here is the answer: 1. they don't operate for care which will lead to profit , they operate purely for the "profit now concept"(it is not in a CEO dictionary to go long term plans because their contracts are very short and they want to make the biggest amount of bonuses in few years ) 2. they cut expenses at the bottom = less patient care ,more burnout , extremely high turnover and consequences are known . 3. they rely on deals like #pbms so they can secure business unethically and crush small independent pharmacies as a way to secure volume that would keep alive for only short term ( the irony is ,it is still legal in Canada except #Quebec) 4. they inflate prices of medicine in thier supply chain and they charge more for insurance ( who they have deals with already ) and the patient is the one paying for all this from their premiums . 5. they convince officials that they can do more for less leading to extremely wrong decisions for reimbursement that kill more pharmacies because the cost of filling is way more than what these companies claim they can afford the business 6. when they reach a stage that they don't make same amount of money , they close many branches and by this they not only killed competition but also shoot themselvs in the foot. it is about greed and control not about #patientcare , and the #public as well the #profession are the loosers in this . that is why #corporate pressure and #pbms are the most dangerous thing on our profession in #Ontario and in #Canada . Health | Santé Ontario Health | Santé Ontario Ontario College of Pharmacists Sylvia Jones Ontario Government | Gouvernement de l’Ontario #Pharmacists #healthcare

Top 10 "Class A" Customers Total coverage of more than 800 points The map only shows the Top 10 Class A customer coverage which is 89 point of sale locations whereas the total coverage of B2B customers is in the excess of 800 point of sale locations ranging from Hypermarkets, supermarkets, pharmacies, cold stores, HORECA and more.

They created their own pharmaggedon. Only a few short years ago, drugstore chains were expanding across the country, while the broader retail landscape was mired in an economic dystopia. Now, CVS, Walgreens and Rite Aid are closing hundreds of stores, and we probably should've seen this coming. A few years ago, big box stores like Best Buy started expanding beyond electronics. Alongside the bigger-than-my-wall TVs and the latest why-do-we-need-smart dryers and washers were hair dryers, toy robots and candy and soda pop aisles. Frankly, it was a hodge-podge of stuff that traditionally wasn't found in a mid-range electronics store. While this was going, drugstore behemoths were not only opening stores faster than you can say "acetaminophen and folic acid, please", they were also becoming healthcare providers. Their aim was to disrupt the industry, and they did. Just not the way they expected. The most obvious is the competition. With discount and big box stores now offering more services and products, drugstores have been negatively impacted. The absence of foot traffic outside of the overrun pharmacy is deafening. Walk into a Walgreens or CVS on any given day, and you're more likely to hear the rustling that comes from the lonely bag of Funyuns you're holding than you are from customers in other aisles. And, ecommerce has certainly taken its toll. The most notable is Amazon Pharmacy, which now controls the corner of Cheap and Convenient, a turf war that drugstore chains are losing. The corner of Happy and Healthy is now the alley of Down and Out. What has been more detrimental has been the pivot into healthcare services. Providing health screenings, vaccinations, and nutrition counseling with an emphasis on preventive care has been ambitious. Unfortunately, running and staffing a business focused on delivering accessible health services is completely running a retail drugstore. Understaffing along with the need to increase wages has been an ongoing issue for the drugstore chains. Existing workers are overwhelmed by the demand for health services. Couple that with a pharmacist shortage, and you have a prescription for declining working conditions and burnout. The consequences of national drugstore closures have a major side effect. Many of the small, independent mom-and-pop pharmacies were run out of town when the national chains came marching into town. With these new closures, that's left many communities without a nearby pharmacy. Sadly, we can read this script https://lnkd.in/egQwFEQ3 #drugstore #pharmacy #realestate #healthcare #retail #ecommerce

In retail, with every trend emerges the rise in demand of one category affecting the sales of another category. A recent interesting development has been Walmart's weight loss drug Ozempic impacting snack category demand. The retailer used anonymized data on shopping patterns, based on customers who pick up prescriptions and buy groceries at its stores. #CategoryAnalysis #Retail https://lnkd.in/dqMrZnsM