As the "not a recession" economic malaise continues in the U.S., drug stores are struggling. In this CNN article today (10/17/2023), we learn that Rite Aid went into chapter 11 bankruptcy this past Sunday. Hmmmm... I didn't see that on the news over the weekend. Nothing like a televised war and genocide to keep people from thinking about the U.S. economy. In the article, reading down a bit, we learn that Rite Aid plans to close 400 to 500 more stores, CVS plans to close 900 more stores, and Walgreens plans to close 150 more stores. I say more stores, because these chains closed a lot of stores in 2015-2020, and some stores since. That's a lot of stores.
I'm doing most of my writing on Substack now, check it out:
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