Just found out my store will be closed in 2 months

[ancienbon]

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JUST RECEIVED AN EMAil from our district manager that our store will be closed on 04/5. They were in the process of negotiating the rent with the landlord and they did not agree on price! So they decided to close the store,as the cost of the rent would be too high to stay in business. Now everyone is worried as we are not sure where we are going!
Hopefully we will find out fate soon! Has anyone been in simular situation?

 

[Sine Cura]

That's a lot of lead time. Walmart gives like 3 weeks.

Seen 2 closures in the last couple of years in this area and those who wanted to stay with the company in the pharmacy got positions.

 

[Hels2007]

Good luck... when a store in the district I moonlighted at closed, they reassigned staff pharmacists to floating. That would be my expectation... but then again, that was a couple years ago, who knows whether the situation has changed. At least you have nearly three months notice, so you can start looking, and now is a pretty decent time to look for a new job...

 

[VeraJ]

Where is your store located? A store in my district closed 2 weeks ago. The PM is now my staff pharmacist, and the staff pharmacist from the closing store is floating. Techs were relocated to nearby stores.

I’m sorry this is happening. It’s such an uncertain time for all of us.

how many scripts was your store doing?
When the DL says they are closing your store, do they at least say why?

 

[confettiflyer]

Didn’t want to open a new thread, but:

The Pharmacist Is Out: Supermarkets Close Pharmacy Counters

Hundreds of regional grocery stores are closing or selling struggling pharmacy counters, as consumers make fewer trips to fill prescriptions and big drugstore chains tighten their grip on the market.

www.wsj.com

I always thought a grocery store pharmacy losing money didn’t matter (loss leader), since customers would make that up buying higher margin items in store...I guess this is not the case anymore.


Sent from my iPhone using SDN

 

[beautifulrobot]

Didn’t want to open a new thread, but:

The Pharmacist Is Out: Supermarkets Close Pharmacy Counters

Hundreds of regional grocery stores are closing or selling struggling pharmacy counters, as consumers make fewer trips to fill prescriptions and big drugstore chains tighten their grip on the market.

www.wsj.com

I always thought a grocery store pharmacy losing money didn’t matter (loss leader), since customers would make that up buying higher margin items in store...I guess this is not the case anymore.


Sent from my iPhone using SDN

Grimly informative article. Although I kind of burst out laughing at this:

"The biggest companies in health care now have pharmacists and doctors, they own medical practices, and they own urgent-care clinics," Baird analyst Eric Coldwell said. Grocery pharmacies "have none of this. They have a store to go into to buy lemons and bread."

What oddly specific and atypical items to list off to differentiate between grocery stores and drugstores. Are those the only things he buys at grocery stores? Or maybe he doesn't do grocery shopping and just listed a couple of random things that he thinks you would find at the grocery store only?

 

[VictorOfHungerGames]

What company?

 

[BMBiology]

Didn’t want to open a new thread, but:

The Pharmacist Is Out: Supermarkets Close Pharmacy Counters

Hundreds of regional grocery stores are closing or selling struggling pharmacy counters, as consumers make fewer trips to fill prescriptions and big drugstore chains tighten their grip on the market.

www.wsj.com

I always thought a grocery store pharmacy losing money didn’t matter (loss leader), since customers would make that up buying higher margin items in store...I guess this is not the case anymore.


Sent from my iPhone using SDN

The grocery business is already a low margin business. A loss in pharmacy would cause a noticeable hit on profit. I think they see the writing on the wall - low reimbursement, rise of mail order/amazon. They depend on well off, more educated customers to also buy grocery, not your typical Medicaid patients that independents depend on.

 

[deleted562805]

The grocery business is already a low margin business. A loss in pharmacy would cause a noticeable hit on profit.

Yeah and Amazon is squeezing out the grocery store business on grocery sales when they bought Whole Foods. I do not think middle of the pack stores like Kroger and Winn Dixie will last very long. But, grocery store supermarkets like Costco, Walmart, and maybe Publix will survive.

 

[Sine Cura]

Amazon can't even disrupt grocery, much less supplant the major players.

 

[LivingMyBestLife]

JUST RECEIVED AN EMAil from our district manager that our store will be closed on 04/5. They were in the process of negotiating the rent with the landlord and they did not agree on price! So they decided to close the store,as the cost of the rent would be too high to stay in business. Now everyone is worried as we are not sure where we are going!
Hopefully we will find out fate soon! Has anyone been in simular situation?

I know where you are going.

<spoiler> The unemployment line </spoiler>

Sorry friend. Look it as a good chance to dust off your resume.

 

[LivingMyBestLife]

Didn’t want to open a new thread, but:

The Pharmacist Is Out: Supermarkets Close Pharmacy Counters

Hundreds of regional grocery stores are closing or selling struggling pharmacy counters, as consumers make fewer trips to fill prescriptions and big drugstore chains tighten their grip on the market.

www.wsj.com

I always thought a grocery store pharmacy losing money didn’t matter (loss leader), since customers would make that up buying higher margin items in store...I guess this is not the case anymore.


Sent from my iPhone using SDN

Loved reading that article in the WSJ. Good stuff.

 

[MilknCheerios]

While it may sound terrible to be uprooted from your current position, try to look at it from a fresh perspective: perhaps something better will open up for you. Hopefully, it's pharmacy-related, but if it isn't, maybe it was meant to be. You've got a few months to prepare so good luck.

 

[overnightrph_]

Does anyone know how they determine tech hours? My store is still 24 hours and we have 20 less hours when we’re projected to increase in volume (stores in the vicinity close at 8 PM instead of 10 PM now and 3 stores converted to non 24 hours).

 

[lane one]

Didn’t want to open a new thread, but:

The Pharmacist Is Out: Supermarkets Close Pharmacy Counters

Hundreds of regional grocery stores are closing or selling struggling pharmacy counters, as consumers make fewer trips to fill prescriptions and big drugstore chains tighten their grip on the market.

www.wsj.com

I always thought a grocery store pharmacy losing money didn’t matter (loss leader), since customers would make that up buying higher margin items in store...I guess this is not the case anymore.


Sent from my iPhone using SDN

Brian Cornell killed that idea when he took over Target and started asking questions. Pretty sure it went like this:

Boss Man: "Why do we lose so much money in the pharmacy?
Pee-on: "It's called a loss leader. We lose money but it generates store traffic"
Boss Man: "But we have a coffee shop in our store too, we don't lose money on that right?
Pee-on: "That's because Starbucks runs it, we actually charge them rent to be here and people love it"
Boss Man: "Interesting...somebody get Larry on the phone!"

 

[Momus]

I have seen a lot of store closures due to rent hikes. If you are good, they will keep you for another position. But it's CVS, you can always go back to CVS coz their turnover is like 100%. Within 1 year, you will see 5-10 people leaving as soon as they find another job offer. You get to live another day slaving for them. You will be OK.

 

[mentos]

Didn’t want to open a new thread, but:

The Pharmacist Is Out: Supermarkets Close Pharmacy Counters

Hundreds of regional grocery stores are closing or selling struggling pharmacy counters, as consumers make fewer trips to fill prescriptions and big drugstore chains tighten their grip on the market.

www.wsj.com

I always thought a grocery store pharmacy losing money didn’t matter (loss leader), since customers would make that up buying higher margin items in store...I guess this is not the case anymore.


Sent from my iPhone using SDN

Grocery stores have low profit just like pharmacy. Some grocery stores can't even stay in business these days.

What oddly specific and atypical items to list off to differentiate between grocery stores and drugstores. Are those the only things he buys at grocery stores? Or maybe he doesn't do grocery shopping and just listed a couple of random things that he thinks you would find at the grocery store only?

Makes even less sense since drugstores sell bread.

 

[beautifulrobot]

Makes even less sense since drugstores sell bread.

Some even sell lemons, too! Usually next to the margarita mix or other non-alcoholic mixers (or actual liquor if it's a CVS in California).

 

[JustFillIt]

Grimly informative article. Although I kind of burst out laughing at this:



What oddly specific and atypical items to list off to differentiate between grocery stores and drugstores. Are those the only things he buys at grocery stores? Or maybe he doesn't do grocery shopping and just listed a couple of random things that he thinks you would find at the grocery store only?

Milk and bread would have made a whole lot more sense... I only buy lemons when there is a specific need.

Maybe the author is an alcoholic and uses lemons in his mixed drinks?