Pharmacy chains are cutting pharmacy hours to compensate for staffing concerns.
The United States has been experiencing a nationwide labor shortage since the COVID-19 pandemic which has forced retailers to offer attractive incentives and pay increases. Walgreens Boots Alliance and CVS each raised their minimum wage to $15 per hour in 2021 while Walmart said last year it would increase the average pay of pharmacy workers to more than $20 per hour. Earlier on Friday, the Wall Street Journal first reported CVS Health Corp and Walmart were cutting pharmacy hours.
The Zacks Retail - Supermarkets industry participants are gaining on strong omnichannel initiatives, especially delivery services. Rising store traffic and online demand keep Walmart (WMT), The Kroger Co. (KR) and Companhia Brasileira (CBD) in good shape.