Walgreens Slashes Prices On 1500 Items As US Retailers Deal With Inflation

Walgreens Slashes Prices On 1500 Items As US Retailers Deal With Inflation

In a move possibly in line with those developments, American pharmacy retailer Walgreens has reportedly slashed its prices on various goods in its outlets.

Juviraj AnchilUpdated: Thursday, May 30, 2024, 11:30 AM IST
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Joe Raedle

The inflation numbers in the United States have been a hot-button topic for most facets of the society. But in an election year, it is even more important for the reigning government to reduce the numbers, and for the opposing entities to underscore the matter in the public domain.

Inflation Curbs US Customers

Inflation, in addition to consumer confidence, is an element, that drives the wheels of an economy. And the negative perception of the economy and the numbers, has percolated into the spending paradigm, hindering consumers' confidence, truncating expenditure.

In a move possibly in line with those developments, American pharmacy retailer Walgreens has reportedly slashed its prices on various goods in its outlets. The second-largest medical chain store in the US has brought about a reduction in the prices of as many as 1500 products.

For instance, according to a CNN report, the price of a packet of sour cream and onion potato chips will now cost USD 1.99. This is down from its previous USD 2.79. This comes at the back of a similar exercise by other American giants, including Walmart, Target, and even the e-tail behemoth Amazon.

 Walgreens lost 16.02 per cent of its value in the equity market. When we try to gauge the larger picture, the share of the company has nose-dived a massive 44.13 per cent in just the past past year.

Walgreens lost 16.02 per cent of its value in the equity market. When we try to gauge the larger picture, the share of the company has nose-dived a massive 44.13 per cent in just the past past year. |

Walgreens Struggle At Wall Street

The United States, despite its positive employment numbers and despite maintaining positive prospects for its economy, eluding recession, high interest rates and inflation, have remained a bottleneck for many in the North American giant. After a 2.9 per cent inflation rate in December, the rate jumped to 3.1, 3.4 and later 3.5 per cent in March before coming down to 3.4 per cent in April.

For Walgreens, particularly, it is trying to fight the slump that the company's fortunes have dawned in the recent past. This company has pegged a low number for the current year. In addition, the company's performance on the stock market has been lacklustre.

In the past month alone, Walgreens lost 16.02 per cent of its value in the equity market. When we try to gauge the larger picture, the share of the company has nose-dived a massive 44.13 per cent in just the past past year. The current value at the end of day's trade on May 29 closed at USD 14.89.  

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