THE WHAT? Walgreens Boots Alliance (WBA.O) plans to cut at least $1 billion in costs in 2024 as part of its ongoing efforts, which include closing unprofitable stores, following a financial year 2024 profit projection below Wall Street’s expectations.
THE DETAILS The cost-cutting measures will involve using artificial intelligence to enhance supply chain efficiency and capital expenditure will be reduced by about $600 million. Despite a 5% rise in its shares during early trading, Walgreens’ shares have fallen nearly 40% this year due to declining sales of COVID-19 products, weak prescription drug demand, employee walkouts, and sluggish consumer health product sales amid high inflation.
THE WHY? Walgreens aims to address its financial challenges, including the impact of the COVID-19 pandemic and declining sales, by implementing significant cost reductions. The company’s interim CEO, Ginger Graham, stated that these changes align with their commitment to customers and patients. Additionally, Walgreens faced a $6.8 billion pre-tax charge related to opioid-related claims and litigation in the previous financial year. The company had previously announced its intention to close 150 stores in the United States and recently appointed a new permanent CEO.
Buy aesthetic products refers to the act of purchasing items that are specifically designed for enhancing or maintaining beauty, often related to skincare, cosmetics, or procedures in the field of aesthetics. These products can include a wide range of items intended to improve the appearance and health of the skin, hair, and body. Here are some examples of aesthetic products that individuals might purchase:
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Skincare Products: Including cleansers, moisturizers, serums, and treatments targeting specific skin concerns such as acne, aging, hyperpigmentation, and sensitivity.
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Cosmetics: Makeup products such as foundations, concealers, eyeliners, lipsticks, and eyeshadows designed to enhance facial features and achieve desired looks.
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Hair Care Products: Shampoos, conditioners, styling products, and treatments to maintain and improve the health and appearance of hair.
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Dermatological Treatments: Prescription or over-the-counter treatments for medical conditions like acne, eczema, psoriasis, or rosacea.
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Aesthetic Devices: Equipment used for professional treatments including laser devices, microneedling pens, radiofrequency devices, and IPL (Intense Pulsed Light) machines.
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Injectable Aesthetics: Products such as dermal fillers and botulinum toxin (Botox) used to enhance facial contours, reduce wrinkles, and achieve smoother skin.
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Nutritional Supplements: Supplements aimed at promoting skin health, hair growth, and overall well-being, often containing vitamins, minerals, and antioxidants.
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Home Use Beauty Devices: Devices like facial cleansing brushes, LED light therapy masks, and microcurrent devices designed for at-home skincare treatments.
