There will be a new COVID vaccine this fall, but will people get it?
Because, if you don't get the vaccine, it is you who will be destroying people's livelihoods and the economy... Walgreens is Closing 150 Stores; Everyone Should Worry...
So... Businesses which weren't run efficiently yet took advantage of the "COVID crisis" are now having their chickens come home to roost and are hoping that continuing the 'crisis' or, at least, the 'scare' will allow them some breathing room to retrench?
Ummm...???
Last week, the Food and Drug Administration recommended that the next COVID-19 vaccine be targeted at the XBB.1.5 subvariant. That new shot is expected to come out this fall, leading public health experts to urge everyone to get vaccinated again before the possible fall-winter surge in COVID cases, which may coincide with the holidays and the retreat indoors during colder weather...
COVID-19 is still killing hundreds of Americans each week, according to the most recent data available from the CDC, and the unvaccinated are much more likely to be among them. The "bivalent" COVID vaccine booster shot released last fall combined the original vaccine with one targeted at the subvariants that were widespread at the time, Omicron BA.4 and BA.5. But that shot isn?t designed to specifically block XBB.1.5, the Omicron subvariant now most in circulation...
Experts say the government will need to educate the public about the benefits of the next shot and to underscore the seriousness of the risk of COVID...
COVID-19 is still killing hundreds of Americans each week, according to the most recent data available from the CDC, and the unvaccinated are much more likely to be among them. The "bivalent" COVID vaccine booster shot released last fall combined the original vaccine with one targeted at the subvariants that were widespread at the time, Omicron BA.4 and BA.5. But that shot isn?t designed to specifically block XBB.1.5, the Omicron subvariant now most in circulation...
Experts say the government will need to educate the public about the benefits of the next shot and to underscore the seriousness of the risk of COVID...
...In its recent third quarter earnings announcement, Walgreens significantly reduced its annual profit guidance, in part because of lower Covid-19 vaccine and testing volumes.
That certainly seems normal since the Biden Administration officially ended the country's national emergency response to the pandemic in April. Though Covid is still very much around, deaths and hospitalization rates have significantly fallen from 2020.
But Walgreens also warned that the economy is perhaps weaker than we assumed. Inflation, combined with reduced government stimulus and the resumption of student loan payments, is prompting consumers to cut spending...
Walgreens has already laid off corporate workers and reduced store hours. In the conference call, Brewer said Walgreens cut hours at 500 stores in the quarter, bringing the total number of stores with fewer hours to 1,100. Yet that figure represents only 12% of the nearly 9,000 stores the company operates in the United States.
In other words, Walgreens has plenty more room to close stores and cut hours.
Moreover, instead of using shareholder cash to expand, the company now talks of "disciplined, returns-based investment" in its core business, "portfolio simplification," and repurchasing shares and boosting the dividend.
All this suggests a retailer that?s looking to hunker down because of the worsening economy. The rest of the industry should take note.
That certainly seems normal since the Biden Administration officially ended the country's national emergency response to the pandemic in April. Though Covid is still very much around, deaths and hospitalization rates have significantly fallen from 2020.
But Walgreens also warned that the economy is perhaps weaker than we assumed. Inflation, combined with reduced government stimulus and the resumption of student loan payments, is prompting consumers to cut spending...
Walgreens has already laid off corporate workers and reduced store hours. In the conference call, Brewer said Walgreens cut hours at 500 stores in the quarter, bringing the total number of stores with fewer hours to 1,100. Yet that figure represents only 12% of the nearly 9,000 stores the company operates in the United States.
In other words, Walgreens has plenty more room to close stores and cut hours.
Moreover, instead of using shareholder cash to expand, the company now talks of "disciplined, returns-based investment" in its core business, "portfolio simplification," and repurchasing shares and boosting the dividend.
All this suggests a retailer that?s looking to hunker down because of the worsening economy. The rest of the industry should take note.
Ummm...???

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