A Shot In The Arm For Their Bottom Line.  Walgreens Profit Margins Soar Thanks To COVID Vax.

FILE - In this June 26, 2006 file photo, window shoppers look at a Walgreens storefront in San Francisco. Walgreens says it will close five more stores in San Francisco next month because of organized retail theft. The drugstore chain has closed at least 10 stores in the city since the start of 2019. (AP Photo/Ben Margot, File)

Walgreens is in the news a lot.  

In liberal cities like San Francisco, New York and Los Angeles, there are almost daily reports of roaming bands of thieves who go into stores and clear out shelves.  They waltz in and just steal whatever they want and leave the store, with no resistance, because the district attorneys of those cities refuse to prosecute them. 

Thursday Walgreens issued earnings reports for the recent quarter, and thanks to the 13.5 million COVID vaccinations they administered in the quarter that ended August 31st, their sales soared to $34.26 billion, up almost $4 billion from last year. 

Profits are pretty strong too.  In 2020 during the same period they profits were $373 million. In 2021 it was $627 million. 

Outside of the total of 40 million COVID shots, Walgreen’s pharmacy sales are up 6.7%. 

If the company could somehow figure out a way to end the open season on robberies in their stores in certain cities, they could really have a nice celebration. 

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