Revenue Agenda
  • Investing
  • Latest News
  • Editor’s Pick
  • Economy
  • Investing
  • Latest News
  • Editor’s Pick
  • Economy
No Result
View All Result
Revenue Agenda
No Result
View All Result
Home Editor's Pick

Walgreens announces price cuts on 1,300 items amid ongoing consumer spending fatigue

by
May 30, 2024
in Editor's Pick
0
Walgreens announces price cuts on 1,300 items amid ongoing consumer spending fatigue
0
SHARES
8
VIEWS
Share on FacebookShare on Twitter

Walgreens announced Wednesday it would continue to cut prices on 1,300 items — making it the latest company to pivot to value amid signs U.S. consumers are experiencing spending fatigue.

The pharmacy chain said in a statement announcing a ‘summer of savings’ that the lower prices were in response to consumers’ ongoing struggles with elevated inflation rates that continue to bedevil the U.S. economy.

“Walgreens understands our customers are under financial strain and struggle to purchase everyday essentials,’ said Chief Customer Officer Tracey D. Brown, Walgreens’ president of retail. ‘We continue to be committed to our customers by lowering prices on over a thousand additional items, something we’ve been doing since October of 2023.’

Walgreens previously pointed to a ‘challenging’ retail environment when it announced its quarterly earnings in March.

Among the price cuts the company highlighted:

Prices may be different based on your location.

Walgreens’ announcement follows others by retail giants that also indicate greater awareness of consumers’ price sensitivities. Last week, Target announced lower costs for thousands of items in its stores , while Walmart recently unveiled an entire new line of food items costing $5 or less.

The post-pandemic economic recovery is showing signs of splitting into a ‘K’-shaped one, with more well-off people able to sustain consistent levels of spending, even amid inflation rates that continue to hover above 3%. Lower-income consumers have been cutting back more substantially.

In its monthly consumer confidence report, released Tuesday, the Conference Board business group said those making over $100,000 per year expressed the largest rise in confidence, higher overall than that of lower-income groups.

“The lower-income consumer in the U.S. is stretched … [and] is strategizing a lot to make their budgets get to the end of the month,” PepsiCo CEO Ramon Laguarta told analysts on the company’s conference call last month.

Meanwhile, other areas of the economy more closely tied to wealthier consumers continue to outperform, especially travel. Even as American Airlines announced Wednesday it was cutting growth plans, analysts said the changes did not reflect a broader pullback.

“American’s diminished [outlook] speaks far more to its flawed initial forecast than any broad-based shift in passenger demand,” JPMorgan airline analyst Jamie Baker said in a note about the airline Wednesday.

This post appeared first on NBC NEWS
Previous Post

American Eagle profit soars, but sales grow slower than expected

Next Post

Inflation pressure lingering from pandemic is keeping Fed rate cuts on pause

Next Post
Inflation pressure lingering from pandemic is keeping Fed rate cuts on pause

Inflation pressure lingering from pandemic is keeping Fed rate cuts on pause

  • Trending
  • Comments
  • Latest
Top 10 Potash Countries by Production (Updated 2024)

Top 10 Potash Countries by Production (Updated 2024)

August 21, 2024
Top 10 Phosphate Countries by Production (Updated 2024)

Top 10 Phosphate Countries by Production (Updated 2024)

August 1, 2024
Top 10 Uranium-producing Countries (Updated 2024)

Top 10 Uranium-producing Countries (Updated 2024)

November 6, 2024
7 Biggest Lithium-mining Companies in 2024

7 Biggest Lithium-mining Companies in 2024

September 18, 2024
RemSense Capital Raising

RemSense Capital Raising

0
New Hampshire Gov. Sununu signs $15.2B ‘miracle’ budget into law

New Hampshire Gov. Sununu signs $15.2B ‘miracle’ budget into law

0

Pennsylvania House clears tax credits for new teachers, nurses, police officers

0
Evers signs bipartisan sales tax bill aimed at sparing Milwaukee from bankruptcy

Evers signs bipartisan sales tax bill aimed at sparing Milwaukee from bankruptcy

0
RemSense Capital Raising

RemSense Capital Raising

August 4, 2025
OTCQB Venture Virtual Investor Conference Agenda Announced for August 7th

OTCQB Venture Virtual Investor Conference Agenda Announced for August 7th

August 4, 2025
Tech 5: Tesla and Samsung Strike Deal, Palo Alto to Acquire CyberArk

Tech 5: Tesla and Samsung Strike Deal, Palo Alto to Acquire CyberArk

August 3, 2025
Eric Sprott Announces Securities of Summa Silver Corp.

Eric Sprott Announces Securities of Summa Silver Corp.

August 2, 2025
Enter Your Information Below To Receive Trading Ideas and Latest News

Error: Contact form not found.

Your information is secure and your privacy is protected. By opting in you agree to receive emails from us. Remember that you can opt-out any time, we hate spam too!

Recent News

RemSense Capital Raising

RemSense Capital Raising

August 4, 2025
OTCQB Venture Virtual Investor Conference Agenda Announced for August 7th

OTCQB Venture Virtual Investor Conference Agenda Announced for August 7th

August 4, 2025
Tech 5: Tesla and Samsung Strike Deal, Palo Alto to Acquire CyberArk

Tech 5: Tesla and Samsung Strike Deal, Palo Alto to Acquire CyberArk

August 3, 2025
Eric Sprott Announces Securities of Summa Silver Corp.

Eric Sprott Announces Securities of Summa Silver Corp.

August 2, 2025
  • About us
  • Privacy Policy
  • Terms & Conditions
  • About us
  • Privacy Policy
  • Terms & Conditions

Copyright © 2025 revenueagenda.com | All Rights Reserved

No Result
View All Result
  • Investing
  • Latest News
  • Editor’s Pick
  • Economy

Copyright © 2025 revenueagenda.com | All Rights Reserved