Just a rumor but good source. The cuts begin Jan on hours . The support staffing when company combines, will be reduced by 75 percent. Districts will have increase in the number of stores and 35 percent of the new field leaders go back into stores. There will be no hours for administration asts unless DL steals from stores, which will be hard to do . Pic will schedule partner so Rx schedulers must go also . Field office will be a lonely place next year. Trainers reduced to half of current number. The cuts are primarily getting support staff streamlined so welcome back to the stores!
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Margin % in FS is as high as they've been in the past 5 years. Sales aren't growing as quickly as they have but margin dollars are growing year over year. 2018 is posting positive fs numbers. Rx is growing script count at nearly the same rate as fs sales however rx margin % is shrinking rapidly. Add on inventory control issues in the rx and we have a big problem. The focus will be changing to pharmacy manager accountability to protect our assets. Unfortunately we aren't doing a good job with managing the pharmacy. This is from AP meetings last week for 2019.
Yeah the market moved their stock to sell status...
Has anyone read about Walgreens lately, and what they intend to do to their F/S? If you haven't look it up. An interesting read on the Pharmacy industry.
This is probably a prelude to simply just shuttering the less profitable stores when the leases expire. Amazon has destroyed the profitability of all retail, and now online is threatening margins on the Rx side of things too, with Walmart/Costco offering lower bulk prices to d--g manufacturers as well. CVS has absolutely become Sears when it comes to operating efficient vs its peers with no easy way out.
Hope thats true because people in the stores deliver the results not the other fools.
Is your source coc--ne?