All articles tagged with #falling sales
Some game makers, including a major company, are reportedly questioning the value of supporting Xbox consoles due to falling sales, as discussed by gamesindustry.biz's Chris Dring. This comes amidst reports of low physical sales of Xbox games in Europe, although the specific companies involved have not publicly confirmed these comments. Microsoft's future hardware plans with Xbox remain uncertain in light of these concerns.
Rite Aid has announced the closure of five stores in Northeast Ohio as part of its Chapter 11 bankruptcy filing, bringing the total number of store closures in Ohio to 10. The pharmacy chain cited falling sales and opioid-related lawsuits as reasons for the closures. The affected stores include locations in Fairlawn, Broadview Heights, Willoughby, Canton, and East Liverpool.
Rite Aid, a major U.S. pharmacy chain, has filed for bankruptcy and secured $3.45 billion in financing as it faces opioid-related lawsuits and declining sales. The company settled for up to $30 million in 2022 to resolve lawsuits alleging its pharmacies contributed to an oversupply of prescription opioids. Rite Aid plans to reduce its debt and position itself for future growth through a financial restructuring plan. The bankruptcy filing will help resolve litigation claims and significantly reduce the company's debt. Rite Aid has been burdened by underperforming stores and has closed over 200 locations in recent years. The company employs 45,000 people, including over 6,100 pharmacists, and fills nearly 200 million prescriptions annually.
Colorado's marijuana industry is experiencing its worst 4/20 sales in five years, with falling sales, business closures, and layoffs. Factors contributing to the decline include oversupply, lack of demand, increased competition in other states, dropping prices, a decline in cannabis tourism, and the allure of black market weed. In April 2021, total medical marijuana sales hit a record low since sales began in 2014, while retail marijuana sales reached their lowest point since April 2020.