Emily (Gilbert) Mulac’s Post

Charles Walgreen III the then CEO of Walgreens called a meeting and said, "Look in five years we are going to be out of the restaurant business completely." At the time, Walgreens had over five hundred restaurants. "We want to be the best in the world running drugstores not restaurants. From now on our focus will be on drugstores not restaurants." "You could have heard a pin drop in the meeting," said, the other executives. The restaurants were a major revenue stream for Walgreens. But Walgreens III wanted the company to be focused on one thing and one thing only. Too many people fail from broken focus. Yes my friends, Walgreen III knew that many people fail by attempting too many things than by attempting few things. Never dilute your life by spreading it too thin. Those who try to do too much will eventually lose focus of their core purpose, dilute their life and eventually burn out and crash. Don't allow yourself to chase too many things it's a sign of double mindedness. The Bible says, "A double minded man is unstable in all his ways." Today Walgreens is one of the largest drugstore in America with over 9000 stores. Focus is the great accelerator. It leverages time, effort, energy and resources. Every situation that arises does not deserve your attention. You must focus your concentration on what's important. Too many people fail because of broken focus. They are either distracted by a battle that deserves none of their attention or by chasing too many things. @Mindfood_01 Morning Charge 🌄 https://lnkd.in/gNGzeMe

The local Walgreens near us has long lines at the pharmacy, difficulty in getting through on the phone, and frequently shelves of merchandise that are not fully stocked. Continual "help wanted" signs. In other words, not the best retail environment. In a competitive ecosystem with other chains (e.g., CVS Health) filling prescriptions and all kinds of stores selling the food and merchandise Walgreens also sells, differentiation becomes essential. Years ago I wrote "Competitive Advantage Through People," a book that talks to the service-profit-value chain of differentiation through human resource practices. The poor customer experience has caused me to move every prescription I can to mail order and the one I can't to CVS Pharmacy, which is also far from perfect, not as convenient, but generally better. Simply put, as is the case for many retailers, a downsized workforce that is frequently plagued with vacancies is not up to the task of competing in today's retail environment. People are still filling prescriptions and buying what Walgreens is selling--they are just not doing it there. #retail #pharmacy #humanresources #talent #customerservice

Breaking #RetailNews: Walgreens to Close Many Stores as Profits Tumble 📉 Walgreens will shutter a significant portion of its 8,600 U.S. locations over the next three years, citing unsustainable pharmacy models and a challenging retail environment. This move follows industry trends of store closures and rising competition. Our industry expert Michael Blackburn covered this and more in today’s 3Q earnings update, available to #RetailStat subscribers. https://lnkd.in/exHyviB5 #Walgreens #Pharmacy #RetailNews #BusinessUpdate #IndustryTrends #Retail #PharmacyDeserts 4o

Walgreens is set to reshape its U.S. operations by potentially closing hundreds of its underperforming stores over the next three years. This decision impacts approximately 25% of its over 8,600 locations nationwide. For Hoosiers, this could mean fewer local Walgreens stores, affecting convenience for many and potentially altering job landscapes in affected areas. This strategy highlights the challenges faced by traditional retail pharmacies and marks a significant shift as Walgreens strives to adapt to a rapidly changing market environment. Learn more inside this WTHR-TV article ⬇ https://lnkd.in/gsGZ5Cqh #Walgreens #RetailChanges #IndianaBusiness

🛒The Walgreens Marketplace🛒 In my last post, I mentioned I would have some interesting stats on the market for Walgreens. Here are those stats: ON-MARKET 🏷️Number of Walgreens on the market in the last 3 months: 138 🏷️Average Price: $4,795,570 🏷️Average Cap Rate: 6.84% CLOSED 🤝Number of Walgreens that have closed in the last 3 months: 30 🤝Average Price: $4,483,280 🤝Average Cap Rate: 7.35% (Source: Crexi) Relevant, real time data. A 51 basis point difference in cap rates between a closed and on-market Walgreens. Wow. If you have been following me, I have put out a Dollar General Marketplace and a Shopping Center Marketplace. The Q3 versions will be delivered in September. There has been a lot of great feedback on these and I am ambitious to continue to make them. The Walgreens Marketplace will be out soon enough! Stay tuned… #walgreens #marketplace #realestate #realestatestats

Walgreens Boots Alliance (WBA) reported disappointing third-quarter earnings for fiscal 2024, missing analyst expectations and prompting a downward revision of its annual profit forecast. The company announced plans to close a significant number of underperforming stores over the next three years as part of a broader strategy to address ongoing challenges in the pharmacy industry and adapt to changing market conditions. Key financial highlights include... Earnings: Walgreens reported adjusted earnings of 63 cents per share, falling short of the 68 cents per share expected by analysts. Revenue: Despite the earnings miss, revenue for the quarter rose nearly 3% to $36.35 billion, surpassing the anticipated $35.9 billion. Net Income: The company posted a net income of $344 million, or 40 cents per share, compared to $118 million, or 14 cents per share, in the same quarter last year. ** Revised Guidance Annual Forecast: Walgreens lowered its adjusted earnings guidance for fiscal 2024 to a range of $2.80 to $2.95 per share, down from the previous forecast of $3.20 to $3.35 per share. https://lnkd.in/g8SKzMuV #healthcare #HealthcareOperations

Retail Today / Retail Renaissance: What is happening in the Drugstore retail sector? The new multibillion dollar opportunity in retail, Healthcare. As we touched on last week WalMart continues to be aggressive in this area, utilizing their 5,000 stores as a springboard. Walgreens, Rite Aid and CVS dominate the Drugstore market, however post-Covid store visits and profits are down significantly. Walgreens strategy has been to build and acquire Heathcare Centers. Now it’s finding leadership to execute the Board’s Vision. #retail #healthcare #drugstore #pharmacy #retailindustry #retailtrends #retailstrategy #retailexperience #brickandmortar #brandexperience #stores #shoppingexperience #healthcarecenter #walmart #wallstreet #walgreens #cvs #riteaid

Interesting comment from Walgreens’ CEO in this article, “Walgreens is focused on engaging with a consumer where she or he wants to engage with the company. If she wants to drive through the drive-thru today, or she wants to order online and pickup in store next week, or she wants to order online and have it delivered to her home or she wants to come in the store and have a good experience. We have got to be able to deliver on all four of those well from a technology-supported perspective.”

Walgreens Boots Alliance Inc (NASDAQ:WBA) reports its fourth-quarter and full-year 2023 results ahead of the opening bell on October 12, 2023, and analysts are bracing for another sharp decline in earnings. The #drugstore operator has had to contend with a weak consumer environment, as well as increased competition from #OnlinePharmacies. Its results come a day after a two-day staged walkout by employees to protest what they describe as unsafe working conditions that compromise customer health. Interim CEO Ginger Graham and interim CFO Manmohan Mahajan will deliver this week’s results and field questions from #investors in a pre-market conference call. More at #Proactive #ProactiveInvestors #NASDAQ #WBA http://ow.ly/J77J104XfCP

Avoid overpaying for a property just because it has a great lease. The factors that make the lease attractive can change or disappear. If you can't secure the same rent from another tenant quickly, consider the potential impact if the current tenant goes bankrupt. Think about what happened to brands like Rite Aid, WeWork, Family Dollar, 99 Cents Only Stores, and Bed Bath & Beyond in the last two years.