will the b.s. ever end?
Posted in the Walgreens Forum
#1 Jun 5, 2012
“We expect our number of prescriptions filled to be helped as employers and health plans take a variety of steps ranging from changing prescription benefit managers to changing language in new RFPs to provide continued access to Walgreens and our services,” Wade Miquelon, chief financial officer, said in a statement.
i dont expect these people to cry uncle, but christ, how long can you keep singing the same tune that flies in the face of objective reality and not expect people to grow tired of the b.s. they are all shoveling the crap a mile-a-minute. i wish they would just come out and say we goofed and here is how were are going to fix it. like it or not and plain and simple. no spin. i think i am so sick of the crap spewing out of their mouths, id probably punch them all in the face if they came into my store. i hope everyone wore their boots to that town hall because the amount of crap that was filling that room was palpable. and people still wonder if this company is gonna make it. HA.
#2 Jun 5, 2012
But we take Optum now, how can we lose?!?!?!
Seriously, folks...this place is getting scary. Anyone else see the email from Brenda Jackson? Hilarious!
#3 Jun 5, 2012
Is she related to Michael Jackson
Since: Mar 12
#4 Jun 5, 2012
It was spot on but also funny.
#5 Jun 6, 2012
I'm beginning to wonder if they CAN fix it, no one in their right mind would let this continue. Makes me think that they have tried and failed, and now have no choice but to spew the b.s.
#6 Jun 6, 2012
what a bunch of weak losers. Geez I can't believe you even work for wag. Hopefully they can weed out the likes of you. You wait until Jan when comps improve and more business comes our way. Mr. Wasson could have taken the easy road and let the company drift into distruction but he is making the tough decisions and taking the heat. I want him to know we are working hard on the front line and support his leadership.
#7 Jun 6, 2012
you sound like the "Hitler Youth" back in 1945
#8 Jun 6, 2012
esrx buying medco just means they have that much more business to lose. Why do you think esrx is one of the most shorted stocks on the nas? Why do you think GMT Capitol, one of the best hedges on the street is buy wag? Yes esrx was able to deliver some short pain but now its time for them to chew the wood as they lose business.
#9 Jun 6, 2012
ESRX according to yahoo finance has a short ratio
of 4.5% whereas WAG has 3.5%. 100 basis point isnt a big deal.
As far as GMT capital, they are a hedge fund. You want higher instititution and mutual fund holding. Look at yahoo finance, wag and esrx have 67% institutional and mutual fund holdings.
On another note, go ahead and graph the charts for ESRX vs WAG. ESRX has been and continues to kill WAG. ESRX is also much larger than WAG now. WAG is betting the company on this PBM selling season. GL!
#11 Jun 6, 2012
YOU wait till January annual shareholders meeting and let them decide about Wa$$ons' "tough decision making"!
Since: Mar 12
#12 Jun 6, 2012
From what I could find on-line, Walgreens filled 819 million prescriptions in fiscal 2011. Our leaders projected that we would have 97% to 99% of that prescription volume for fiscal 2012 which calculates out to be a range of 792.49 million to 810.81 million prescriptions.
There were 208 million prescriptions filled in fiscal 1st quarter reported on December 21, 2011.
There were 196 million prescriptions filled in the fiscal 2nd quarter reported on February 29, 2012.
I looked at the monthly sales numbers for March, April, and May 2012 but I can only find is comparable Rx script numbers as compared to a year ago which have decreased for all three months (9.5%, 7.8%, 7.6%). I can't find the number of prescriptions filled for any of those three months. I imagine the earnings for the quarter due out later this month will have that number.
So, 792.49 million - 208 million - 196 million = 388.49 million prescriptions that need to be sold from March - August, 2012 in the last two quarters of fiscal 2012 to meet the 97% target.
#13 Jun 6, 2012
Walgreen No Longer Fills the Prescription
Margin and revenue presssures press the sell signal button
Jun 6, 2012, 8:30 am EDT | By Louis Navellier, Editor, Blue Chip Growth
Ever since Walgreen (NYSE:WAG) decided to end its relationship with prescription benefits manager Express Scripts (NASDAQ:ESRX) in 2011, the stock has taken a hit. Now that Walgreen is no longer part of Express Scripts’ pharmacy network, can this company get on the right track in time for its third-quarter earnings announcement? Tuesday morning brought some telling sales data on this front, so let’s find out.
With over 110 years in the business, Walgreen is one of the largest and best established drug retailing chains in the U.S. Through the years, the company has changed much since the times when it sold lunch and malted milkshakes (which the company claims it invented) in its drug stores. Walgreen employs 176,000 across 8,300 North American locations. In FY 2011, the company brought in $72.18 billion in total sales.
Walgreen is a member of the Drug Stores industry, which is made up of 11 companies. Of these, Walgreen Co. is second only to CVS Caremark (NYSE:CVS) in terms of market capitalization. This company also stands out in terms of its 3% dividend yield, which is the highest in the industry, and its return on equity, which is second highest in the industry.
But, when it comes to Price/Earnings to Growth ratio, earnings growth, sales growth and long-term growth rate, this is a middle of the road company. Walgreen’s biggest competitors are CVS, Rite Aid (NYSE:RAD) and Wal-Mart (NYSE:WMT). Of these four companies, Walgreens has the highest gross margin, the third highest operating margin but the lowest sales growth.
May Sales Rundown
Before the opening bell today, management announced that the company’s total sales for May as well as the third quarter declined due to increased competition from new generic drugs. Compared with May 2011, last month’s sales declined 1.6% to $5.98 billion.
Additionally, May same-store sales dropped 5.8%. The company has also been hurting lately because it is no longer part of the Express Scripts Inc. pharmacy network. Walgreens’ next earnings announcement is scheduled for before the opening bell on Tuesday, June 26.
The analyst community expects the company’s top- and bottom-lines to both contract by 3% in the third quarter. Walgreen’s has a mediocre track record of beating analyst earnings estimates; while the company was able to pull off earnings surprises in three of the past four quarters, it was only in the single digits.
Before you buy any stock, you should always run it through my free Portfolio Grader ratings system. Over the past 12 months, this company has steadily declined in my ratings system; this time last year, WAG was an A-rated stock. Since then, the company has posted a series of disappointing earnings announcements, so Walgreen’s has been hit in terms of sales growth, earnings momentum and its track record of topping earnings surprises. Walgreen’s is also shaky in terms of earnings growth and analyst earnings revisions; its only areas of strength are its operating margin growth, cash flow and return on equity.
WAG receives a C for its Fundamental Grade and an F for its Quantitative Grade (which measures current level of buying pressure for the stock).
Due to its shaky fundamentals and abysmal level of buying pressure, I strongly recommend that you stay away from this stock in the meantime.
Recommendation: Strong Sell
Sound Off: What do you think about WAG? Are you a buyer at current prices? Let me know what you think by posting on our wall on Facebook.
#14 Jun 6, 2012
wasson is a jackass--along with his boy kermit--really what dumbass off the street couldnt look at the esi deal and say geez, yeah will lose some money but hey better to get a portion back and retain the customer base then send them down the street where they will get their rxs filled and buy other crap in the competitor store--hell our workers over in the warehouse who are "challenged" could have made better decisions then the current regime--we all need to call in sick july 1--spread the word...
#15 Jun 6, 2012
Does anyone know where to find that email? My store didn't get it. About 1/2 of the other RXMs say they didn't get it either. People are afraid to forward it.
#16 Jun 6, 2012
As one of your fellow pharmacists, a customer, and a shareholder, I am
horrified by the direction the store has taken under your poor leadership.
When he opened his first store, Charles Walgreens announced,“"We believe
in working, not waiting; in laughing, not weeping; in boosting, not
knocking and in the pleasure of selling products."
That is no longer your philosophy. A good leader looks at both employees
and customers and tries to make the partnership workable and profitable.
Under your leadership, things have become progressively worse and you have
a lot of internal issues threatening the integrity of this company.
Your patients are not safe in your pharmacies. A five-year-old in Nashville
was given the wrong medication in spite of the pharmacy manager earlier
asking for more staffing to address the stress levels. Under your
leadership, medication errors have killed four patients and cost
shareholders more than $61,000,000 in verdicts against you. Throughout it
all, your staff is burned out and stretched to the max except you and your
board, sitting in comfortable chairs, calculating how many employees they
can afford to lose or how many patients can leave or die before things get
And while your latest victim was curled on the floor of his shower, dying
from a medication error, you rewarded yourself with a 36% raise.
That 36% raise also comes on top of Walgreens losing Express Scripts,
Anthem, Caremark, and soon Medco, and others, costing shareholders over
$6,000,000,000 in business. You are sadly willing to kiss off over billions
of dollars because other companies will not cater to you. What arrogance!
In front of the cameras, you tell pharmacists that there is no quota, there
is no pressure to rush through a prescription, but when the press leaves,
the pressure comes out to up the volume. Dollars cannot get into the cash
register fast enough to suit you, and there is absolutely no thought to
staffing needs, employee hours, or patient safety. Medication decisions are
not being made by pharmacists, they are being made by financial
bean-counters. They take raw data and decide that two minutes is a safe
amount of time to fill a prescription from data entry to pulling the
correct medication and counting the pills to pharmacist checking and
counseling the patient.
You are a pharmacist. Can you even pretend that two minutes is adequate
time? When was the last time you actually set foot in a pharmacy, let alone
worked at one? You have traded in your lab coat for a three-piece suit,
wiped the dust off your feet, and never looked back to see how the company
functions – or fails to function. Who are you serving? Are you serving the
shareholders, who have suffered billions in lost business and wrongful
death lawsuits? Are you serving the staff, who are burned out beyond
functioning? Are you serving your customers, many who have survived
medication errors – and some who have not?
I met you once – and I am sure you have no recollection of that meeting. I
was totally unimpressed with your lack of leadership. I asked a simple
question and you responded that you would have to get back to me. The same
is true for company meetings. You insist upon questions beyond provided in
writing ahead of time. Has anyone ever gotten a straight answer from you
without your handlers cuing the teleprompter? And how does someone run a
company with absolutely no knowledge of it?
#17 Jun 6, 2012
Please do not try to pass this off with some pre-worded answer about
rewiring for growth. Anyone in business knows that successful growth means
more customers and more employees, not round after round of employee cuts
and customers taking their no-longer-accepted insurance plans to your
competition. The Pharmacy That America Trusts is quickly turning into The
Pharmacy That America Avoids.
You have brought the Walgreens family name down and have a moral obligation
to resign. You have cost people their jobs, and you have put customers at
risk. Let someone lead the company who can bring employee morale to higher
levels, provide courteous service to customers, and grow the business as Mr. Walgreens intended, treating customers with decency and fairness, not
passing off a cut-rate job, and treating employees the way you would want
to be treated.
Someone Who Cares
#18 Jun 6, 2012
Wooowwww Julie, are you related to Mr. Wasson????....REALLYY do you believe all Mr. Wasson B.S.!!!!! You know you are right we are working hard on the front line but my question to you is for what???....hummmmm let me see, maybe to loss more hours or perhaps to get demote.....oooh wayy if forgot my favorite excuse to give Mr Wasson and all the way down to the store managers a bigger and fatter bonus cheeckkk!!!.....Julie This company doesn't give a crap about how hard you, me and everyone else work, all they care is how they can reverse the stupid decisions they made in the past. So your loyalty is going to be paid with less hours, with Krono a new time clock that is tracking every second you breath in a walgreens store and firering you and hiring a new employee making $3 dollars less than you so the can save more money and spend it in their next vacation or the famous every year big and important Las Vegas meeting!!!!!
Pay attention and Start saving all my walgreens friends and co-workers because the best surprices are yet to come from Julie big and great leader Mr. Wasson. he is saving the best for lassssttt!!!...It is reallyy reallyy sad and a shame but this is Walgreeens ending path, a one time the best retail companies to work for. Heyyy Julie don't say that no one told you so. goood luckk!!!!
#19 Jun 7, 2012
I would like to shake the hand of whoever wrote that letter. It says just about everything, I think, that we'd all like to say to Wasshole, Kermie, and Wagner.
Our new motto should be:
Walgreens where our cuts can kill
or some variation of that.
Obviously that little trick to boost the bottom line backfired in huge ways: Death, Grief for all parties involved, and huge loss of $$.
Wasson, Kermit and Wagner ALL need to pull the ripcords on their golden parachutes and float the fuck away. Looks like their (Wasson & Wagner) only correct decision this last year was
to take their bonuses in cash instead of the usual stock options
#20 Jun 7, 2012
What are you smoking-snorting-injecting-dri nking? I haven't met anybody that supports these retarded decisions.
Wasshole lost his pissing contest with Express Scripts and the workers in the field are the ones paying the price. This JackHole doesn't deserve a salary. Actually, he should RETURN that bonus from last year. That will cover some of the judgements against us caused by lack of staffing from his Rx cuts.
Do you remember one of those "We will be fine" Wasson statements on Wag-TV where he talked about his mother finding out we were no longer taking her insurance as of 1/1/12? She found out from her local Wags pharmacist. Her son, the CEO of the company, didn't even bother to pick up his phone (or a company phone) and tell her of the upcoming change.
If he treats his own mother this way, do you think he gives a shit what happens to you or anyone else that works here?
Wake up !!!
#21 Jun 7, 2012
What an incredible letter. The difference between the individual who wrote this letter and (most of)the characters that are in Walgreens executive suite is gigantic. If only Wasson etc. had a smidgen of the intelligence and integrity of this letter writer. How is it that the jerks of this world manage to get ahead? Makes you want to cry. My hat is off to this letter writer, if only they were in charge of Walgreens it would be a better world.
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