Walgreens plans to cut $1 billion in spending over 3 years
December 21, 2018
Walgreens Boots Alliance — still in the process of integrating over 1,900 stores into the organization acquired from Rite Aid in a $4.38 billion deal last year — says it will consolidate warehouses and close stores with a goal of cutting $1 billion in expenses over the next three years. The company’s UK stores are in a tenuous state due to uncertainty over Brexit, and global sales are down 5.9 percent from a year ago. U.S. same-store sales have fallen 3.2 percent.
Recent News
TikTok Suspends TikTok Lite Rewards Program in the EU
A TikTok service offering rewards such as gift vouchers for watching videos has been suspended by the social media site.
FCC Votes To Restore Net Neutrality Rules
The Federal Communications Commission (FCC) voted 3-2 on Thursday to reinstate net neutrality rules that were rolled back during the Trump administration.
Blackstone To Buy Tropical Smoothie Cafe
Alternative asset manager Blackstone is set to buy the restaurant chain Tropical Smoothie Cafe.
Ford’s Total EV Sales Post $1.3 Billion Loss in Q1
Ford’s EV division, known as Model e, faced a tough start to 2024.