Walgreens CEO says company is using its stores and brand to boost health-care business

Walgreens CEO revealed plans to use its stores and brand to strengthen its growing healthcare business. The company has invested heavily in expanding beyond being a drugstore chain. While Walgreens has closed some stores to optimize its footprint, the CEO argued that the stores are already part of the healthcare business, citing millions of vaccines administered and thousands of interactions with customers. He emphasized the trust customers have in the brand, which Walgreens can leverage to build its health services business. The CEO previously served as the CEO of Express Scripts. Walgreens has faced challenges including declining demand for Covid products, low pharmacy reimbursement rates, online competition, and labor unrest. Despite beating earnings expectations, the company cut its dividend and saw its stock decline.