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Hello everybody I'm John Fawcett with this Great America Show midday update for Tuesday, October 15th.

Baidenomics is not just hurting the ordinary American in their pocket, it's now hitting

retail giants.

Retail giant Walgreens announces they will close down 1,200 stores nationwide

to help stem billions in losses.

According to CEO Tim Wentworth, the move is part of a $1 billion cutting spree and a restructuring

effort after the company reported a $3 billion lost in the last quarter.

Wentworth insisted that any serious turnaround would take some time. In June, Walgreens announced that plans that they would close a significant number of

underperforming stores by 2027, although today's update marks the company's first

specific project on how many locations

will be shut down, a lot sooner than expected.

Walgreens isn't the only one having trouble.

Convenience Store Giant 711, which all of us probably frequent every now and then,

says they will be closing 400 underperforming stores in the US.

...