(MT Newswires) -- Walgreens CEO Tim Wentworth discusses consumer caution on retail spending, saying consumers are looking for value and are willing to shop in bulk. He notes that some retailers are doing better than others, particularly those that offer great value. Wentworth explains that Walgreens is revamping its customer experience, products and pricing strategy to attract and retain customers. He predicts that the situation will not worsen in the second half of the year and hopes that consumers will once again prefer Walgreens. The company has, however, reduced its forecasts for the 2024 financial year.

It also highlights the importance of Walgreens' digital offerings, citing significant increases in same-day delivery, with 80% of deliveries made within an hour. The collaboration with DoorDash is highlighted, with Wentworth praising their communication and effective partnership.

On artificial intelligence (AI), Wentworth is cautious, avoiding buzzwords and focusing on the practical use of AI for specific applications such as load balancing and stock management. He also mentions a collaboration with Palantir to explore meaningful applications of AI in business.

Finally, Wentworth talks about Walgreens' pharmacy strategy, stressing that it goes beyond just providing medicines. He mentions the introduction of services such as testing and treatment, as well as changes to workflows to free up time for pharmacists to consult with patients, marking a significant difference in Walgreens' approach.

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