Will Smith Professes Eternal Help For Jada Pinkett Smith

Will Smith is making it clear where his loyalty and feelings lie regarding his estranged wife, Jada Pinkett Smith. As The Shade Room previously reported, on October 11, the actress revealed that she and Will have been separated since 2016.

Days later, Will Smith addressed his “emotional blindness” toward his wife. Additionally, he poked fun at Jada breaking the internet with her revelation.

Earlier this week, Jada Pinkett Smith updated the world on her current relationship with her estranged husband. The 52-year-old explained that her recent revelations have brought them “closer,” putting them in a space of “deep healing.”

RELATED: Jada Pinkett Smith Says Revealing State Of Her Marriage With Will Brought Them ‘Closer’: ‘We Are In A Deep, Healing Space’

Will Smith Speaks About Jada Pinkett Smith’s “Sacrifices” During A Lecture On Her New Memoir

On Wednesday, the Enoch Pratt Free Library welcomed Jada Pinkett Smith’s “Worthy” memoir to the Brown Lecture series. During the event, the actress shared a conversation with CNN’s Laura Coates.

According to the event docket, the 52-year-old reflected on her “childhood in Baltimore to her controversial life in Hollywood.” Additionally, the mother of two expanded on how she “navigates complicated, false narratives about her marriage, her family, and herself.”

The Baltimore Banner adds that before the discussion concluded, Smith was joined on stage by Will, their children, Willow and Jaden, and Will Smith’s eldest son, Trey.

According to the outlet, Will moved the event forward by sharing his support for Jada.

“I just really wanted to come out and just be here and hold it down for you the way you have held it down for me,” Smith reportedly told the 52-year-old before the pair hugged.

The 55-year-old described their relationship as “brutiful” (beautiful and brutal) and a “sloppy public experiment in unconditional love.” Additionally, the actor explained that he’s achieved all he’s wanted in life due to Jada’s “sacrifices.”

“…I stand here before you today, I am happier than I’ve ever been in my entire life. I have achieved every single thing I have ever wanted in my entire life… all of the awards, all of the money, the family — everything I’ve ever dreamed,” the actor told the crowd. “And those dreams were largely built on the foundation of Jada’s sacrifices. There were many times when Jada put her career aside so I could follow the dreams of mine.”

The Actor Credits Jada Pinkett Smith As His “Best Friend” While Professing His Undying Support

As the event continued, Will posed a question for the crowd.

“Could you love somebody forever no matter what?” the actor asked as the room filled with applause. “… Can you show up and love somebody for the rest of your life, even when you don’t agree with them?”

The 55-year-old proclaimed that Jada is the “best friend” he’s “ever had on this planet.” Furthermore, he pledged to “show up for her and support her for the rest” of his life.

Before the 55-year-old left the stage, he reportedly thanked the audience.

“Thank you all for being a place for Jada to find her voice,” the 55-year-old told them, per The Baltimore Banner. “Baltimore, coming home to you is really beautiful.”

Jada Pinkett Smith Opens Up About Writing Her Memoir & Being “Misunderstood”

The actress’s lecture event on Wednesday evening arrives on the heels of the publishing of her exclusive interview with Essence. During the conversation, Smith explained why she decided to reshape the “narrative” about her life.

“I was just thinking, the day that I’m gone, I don’t want my kids to have to defend me. You know what I mean? I don’t want my kids to have to tell that story, which they would’ve eventually had to do,” Smith explained. “And I didn’t write the book for that necessarily. It was just that wanting to really share my journey just for others that are going through similar difficulties. I mean, all of us are dealing with challenges in our life, right?”

Additionally, the 52-year-old even took accountability for the role she may have played in creating those “narratives.”

“It’s like you can’t expect to be in the public eye and your life not be of interest… And being misunderstood is part of it,” Smith explained. “…

And in knowing that, as I talk about in the book, I have to take responsibility for some of those false narratives out there and how I’ve participated in the distribution of a false narrative that actually contributed to other false narratives… I also have to take responsibility for my part and just understand that it’s just part of human nature… it’s actually nothing to take personally.”

RELATED: Jada Pinkett Smith Says It ‘Wasn’t Possible’ To Have A Romance With Tupac: ‘There Was No Chemistry’

GM to delay EV truck manufacturing at Michigan plant

UAW Local 5960 member Kimberly Fuhr inspects a Chevrolet Bolt EV during vehicle production on May 6, 2021, at the General Motors Orion Assembly Plant in Orion Township, Michigan.

Steve Fecht for Chevrolet

DETROIT – General Motors said Tuesday it is delaying production of all-electric trucks at a Michigan plant by at least a year to “better manage capital investments” and implement improvements in an effort to make the new EVs more profitable.

GM now plans to begin construction of its next-generation EVs at Orion Assembly in suburban Detroit by late 2025, instead of next year. The factory currently produces Chevrolet Bolt EV models, which GM will cease producing at the end of this year.

The delay is the latest sign of potential trouble for the ambitious, multibillion-dollar plans of traditional automakers to move to electric vehicles. Adoption of EVs, which remain costly to produce and purchase, has been slower than many expected.

“General Motors today confirmed it will retime the conversion of its Orion Assembly plant to EV truck production to late 2025, to better manage capital investment while aligning with evolving EV demand. In addition, we have identified engineering improvements that we will implement to increase the profitability of our products,” the company said in a statement.

The change in plans is not connected to the company’s ongoing contract negotiations with the United Auto Workers union, according to a GM spokesman. However, the contentious talks do involve EVs, and current contract proposals by the company are expected to be more expensive than those in year’s past. The UAW, which represents workers at Orion Assembly, did not immediately respond for comment.

The production delay calls into question GM’s previously announced EV goals, including cumulative production of 400,000 EVs in North American from 2022 through mid-2024, which had already been pushed back. GM also has a goal to exclusively offer consumer EVs by 2035.

A GM spokesman late-Tuesday said there’s currently no change in plans to the company’s EV production targets.

New electric versions of the Chevrolet Silverado and GMC Sierra that were supposed to be produced at Orion Assembly will be assembled at GM’s Factory Zero in Detroit, the company said. Limited production of the Silverado EV is underway, while Sierra is scheduled to begin next year.

Alongside the Silverado EV, Factory Zero is currently building the GMC Hummer EV pickup and SUV and Cruise Origin shuttle.

In January 2022, GM announced it would invest $4 billion to convert Orion Assembly to produce electric trucks. The plant was expected to be its second U.S. assembly plant to exclusively produce EVs. GM said construction includes significant facility and capacity expansion at the site, including new body and paint shops and new general assembly and battery pack assembly areas. 

Roughly 1,000 hourly workers at Orion Assembly will have the option to transfer to other Michigan facilities until the retooling at Orion Assembly is completed.

Don’t miss these CNBC PRO stories:

Biden will journey to Israel on Wednesday as struggle drags into its second week

U.S. President Joe Biden gestures as he boards Air Force One at Delaware Air National Guard Base, in New Castle, Delaware, U.S., April 25, 2022. 

Tasos Katopodis | Reuters

WASHINGTON — President Joe Biden will travel to Israel on Wednesday in an effort to mitigate the expansion of the war between Israel and Hamas.

Secretary of State Antony Blinken, who has made two trips to Israel since the war broke out on Oct. 7, announced Biden’s upcoming visit during a press conference at the U.S. Embassy in Tel Aviv.

“President Biden will again make clear, as he has done unequivocally since Hamas slaughter of more than 1400 people, including at least 30 Americans, that Israel has the right and indeed the duty to defend his people from Hamas and other terrorists and to prevent future attacks,” Blinken said following a nearly eight-hour meeting with Israeli Prime Minister Benjamin Netanyahu.

Read live updates of the Israel-Hamas conflict

Blinken said Biden will also work to establish a plan for the safe passage of critical humanitarian aid to Gaza.

The United Nations said that none of its agencies have been able to bring water, food, medical equipment or fuel into Gaza since the war broke out.

“This has become hell,” Juliette Touma, Director of Communications for the United Nations Relief Works Agency, told reporters on a call. “The messages that we’re getting is get us out of this hellhole,” Touma added.

National Security Council spokesman John Kirby told reporters on a call Monday evening that Biden’s travel to Israel was thoroughly evaluated, adding that the “security situation is certainly tense.”

Earlier in the day, Blinken was forced to retreat to a bunker twice while meeting with Netanyahu in Tel Aviv due to air raid sirens. Over the weekend, a U.S. congressional delegation also sheltered in place.

Kirby said Biden will also travel to Amman, Jordan on Wednesday where he will meet with Jordanian King Abdullah II bin Al-Hussein, Egyptian President Abdel Fattah El-Sisiand and Palestinian Authority President Mahmoud Abbas.

While in Jordan, Kirby said Biden will discuss regional security, the release of hostages held by Hamas and humanitarian needs for the people in Gaza.

“We certainly want to see that humanitarian assistance begin to flow as soon as possible,” Kirby said.

Goldman Sachs (GS) earnings 3Q 2023

David Solomon, chief executive officer of Goldman Sachs Group Inc., at the Goldman Sachs Financial Services Conference in New York, Dec. 6, 2022.

Michael Nagle | Bloomberg | Getty Images

Goldman Sachs is scheduled to report third-quarter earnings before the opening bell Tuesday.

Here’s what Wall Street expects:

  • Earnings: $5.31 a share, according to LSEG, formerly known as Refinitiv
  • Revenue: $11.19 billion
  • Trading revenue: fixed income $2.8 billion, equities $2.73 billion, per StreetAccount
  • Investment banking revenue: $1.48 billion

Is Wall Street deal-making on the mend?

Among its big bank peers, Goldman Sachs is the most reliant on investment banking and trading revenue.

While it’s made efforts under CEO David Solomon to diversify its revenue stream, first in an ill-fated retail banking push and later as it emphasized growth in asset and wealth management, it is Wall Street that powers the company. Last quarter, trading and advisory accounted for two-thirds of Goldman’s revenue.

That’s been a headwind as mergers, initial public offerings and debt issuance all have been muted this year as the Federal Reserve boosted interest rates to slow the economy down. With signs that activity has picked up lately, analysts will be eager to hear about Goldman’s pipeline of deals.

At the same time, Goldman has taken hits from two areas: Its strategic retrenchment away from retail banking has saddled the firm with losses as it finds buyers for unwanted operations, and its exposure to commercial real estate has resulted in write-downs as well.

Last week, Goldman said that its sale of lending business GreenSky will result in a 19 cents per share hit to third-quarter results.

Analysts will be keen to hear Solomon’s view on the investment banking outlook, as well as how the remaining parts of its consumer effort — mainly, its Apple Card business — fit in the latest iteration of Goldman Sachs.

Goldman shares have dropped 8.4% this year through Monday, a better showing than the 21% decline of the KBW Bank Index.

Last week, JPMorgan, Wells Fargo and Citigroup each topped expectations for third-quarter profit, helped by better-than-expected credit costs. Morgan Stanley posts results Wednesday.  

This story is developing. Please check back for updates.

Ceremony Assist information for chapter amid slowing gross sales, opioid litigation

Rite Aid filed for Chapter 11 bankruptcy protection in New Jersey on Sunday and said it would begin restructuring to significantly reduce its debt.

The company said it reached a deal with creditors on a restructuring plan that includes evaluating its retail footprint and closing underperforming locations.

Rite Aid also said lenders agreed to extend $3.45 billion in new funding to “provide sufficient liquidity” as it embarks on its restructuring plan.

The beleaguered drugstore chain has been grappling with slowing sales, mounting debt and a slew of lawsuits that allege the company helped fuel the nation’s opioid epidemic by oversupplying painkillers. 

During its most recent quarter ended June 3, revenue fell to $5.65 billion, down from $6.01 billion in the year-ago period. Its net loss widened to $306.7 million, or $5.56 per share, compared with a net loss of $110.2 million, or $2.03 per share, in the same period a year earlier. 

As a result of the rough quarter, Rite Aid lowered its fiscal 2024 outlook and warned investors it expects to lose between $650 million and $680 million for the full year, which is slated to end in late February.

Rite Aid’s retail pharmacy segment has long been a key growth driver for the company, but that hasn’t been enough to offset its mounting losses.

Plummeting demand for Covid vaccines and testing, a membership reduction in the company’s prescription drug plan, and a loss of customers from its Elixir pharmacy benefits business have contributed to a slowdown in revenue at the struggling drug chain.

On Sunday, the company appointed Jeffrey Stein as its new chief executive officer and chief restructuring officer as well as a member of its board. Elizabeth Burr had been serving as interim CEO since January and will remain on the company’s board.

Rite Aid Chairman Bruce Bodaken said in a statement: “Jeff is a proven leader with a strong track record of guiding companies through financial restructurings. We look forward to benefitting from his contributions and leveraging his expertise as we strengthen Rite Aid’s foundation and position the business for long-term success.”

Stein said he has “tremendous confidence in this business and the turnaround strategy that has been developed in recent months.”

An existential crisis for drugstores 

Drugstores like Rite Aid have faced an existential crisis as shoppers increasingly turn to retailers like Amazon, Target, Walmart and others for toothpaste, shampoo and other staples — often at a cheaper price and with the convenience of delivery to customers’ doors.

Rite Aid has also struggled to keep up with its bigger rivals, CVS and Walgreens, as those companies have pivoted to a health-care focus and made sizable investments to match.

CVS has opened in-store Minute Clinics, which resemble walk-in urgent-care facilities, and turned more of its stores into HealthHubs, or locations with a longer list of medical services. 

It has expanded its reach in health care by acquiring Caremark, one of the largest pharmacy benefits managers, health insurer Aetna and, most recently, primary-care company Oak Street Health.

Walgreens has also struck pricey deals to expand its reach in health care. It’s become the majority owner of primary-care company VillageMD and plans to open up doctor offices next to many of its drugstores. 

Newer — and well-capitalized — health-care entrants have also intensified the competitive threat. Amazon closed its acquisition of primary-care provider One Medical in a $3.9 billion deal earlier this year and acquired online pharmacy PillPack in 2018. Walmart, which has pharmacies in its thousands of stores, has opened a growing network of medical clinics in parts of the country.

The opioid crisis 

Rite Aid’s financial position and competitive disadvantages are compounded by the many lawsuits it’s facing that allege the company contributed to the nation’s opioid epidemic by knowingly filling prescriptions for painkillers that did not meet legal requirements.

The Department of Justice filed a suit against Rite Aid earlier this year, claiming that it violated the Controlled Substances Act by filling thousands of unlawful prescriptions for controlled substances such as fentanyl and oxycodone.

Rite Aid has asked a court to dismiss the department’s lawsuit and denied allegations it filled unlawful opioid prescriptions.

— CNBC’s Christine Wang contributed to this report.

Kourtney Kardashian Fires Again at Criticism Over Her Being pregnant at 44

However, Kourtney—who also shares kids Mason Disick, 13; Penelope Disick, 11; and Reign Disick, 8, with ex Scott Disick—says this pregnancy is different from her other three.

“Physically I feel great,” she told the magazine. “I like being pregnant. I’m obsessed with the idea of ​​being pregnant! But this time, unlike the other three, I was followed by a different group of doctors who, in the first months, gave me many restrictions. No workouts, no Pilates, no caffeine, no plane trips. Even no sex!”

“Well, I think all this caution made me a little afraid because in the past I had never had to be careful,” she continued. “It took me a while to let go of the fear, I would say that right after the surgery I got to the point where I let go, I stopped worrying.”

Republicans Are Being Threatened And Informed Not To Work With Democrats On Electing A Speaker

After Steve Scalise dropped out, Republicans only have Jim Jordan running for speaker at the moment, but they have threatened moderate Republicans who may consider working with Democrats to elect a speaker.

The threat:

Despite all the chaos, conservative Republicans say they have no concern that some in their party may team up with Democrats to elect a speaker.

“That’s the thing that gets you beat in a primary,” says Rep. Kevin Hern.

“You’d get your ass beat,” says Rep. Tim Burchett.

— Sahil Kapur (@sahilkapur) October 13, 2023

Here is where things stand right now.

Jim Jordan is taking a crack at getting 217 votes, but the outlook is not good, so Republicans most likely don’t have a candidate for speaker and are waiting for someone to emerge. In reality, they are looking for a miracle.

Meanwhile, any Republican who might be thinking that it sure would be nice if they could do their job and pass legislation has been warned not to team up with the Democrats to elect a speaker or they will be primaried.

Any Republican who might want to work with the Democrats is a hostage.

The way out of this would be for a large group of House Republicans to walk away and form a coalition House government with the Democrats. Republicans can threaten to primary five members who might work with Democrats. It is much more difficult to primary 25 Republicans who work with Democrats.

The current situation can’t hold for much longer. Either Republicans find a candidate who can win, or people are bound to start looking at working with Democrats to elect a speaker.

Jason is the managing editor. He is also a White House Press Pool and a Congressional correspondent for PoliticusUSA. Jason has a Bachelor’s Degree in Political Science. His graduate work focused on public policy, with a specialization in social reform movements.

Awards and  Professional Memberships

Member of the Society of Professional Journalists and The American Political Science Association

The Iron Dome missile protection system, defined

Israel’s Iron Dome anti-missile system intercepts rockets launched from the Gaza Strip, as seen from the city of Ashkelon, Israel October 9, 2023.

Amir Cohen | Reuters

Israel is once again relying on its Iron Dome to fend off attacks from the Palestinian militant group Hamas, orchestrating its missile defense system to protect its citizens amid the ongoing conflict.

The strategic importance of the short-range system has been underscored in the wake of a devastating and coordinated assault from Hamas on southern Israel over the weekend.

Israel has responded by pounding Gaza with airstrikes, while the country is expected to launch a ground offensive in the region in the coming days.

Israel has also ordered the “complete siege” of the Gaza Strip, seeking to stop the supply of electricity, food, water and fuel to the already blockaded population of roughly 2.3 million people.

As a result of the persisting violence, at least 1,200 Israelis have been killed, with more than 2,700 injured, according to Israel’s military. Meanwhile, the Palestinian Ministry of Health says 1,203 people in Gaza have been killed, with 5,763 injured.

What is Israel’s Iron Dome?

The Iron Dome, or “Kippat Barzel” in Hebrew, is widely regarded as one of the most important tools in Israel’s arsenal. In part, that’s because it is thought to be highly effective.

Israel’s Defense Ministry claimed the Iron Dome successfully intercepted 97% of all Palestinian rockets fired during one weekend surge of Gaza fighting last year, while the system recorded a 95.6% success rate during a rocket attack by the Palestinian Islamic Jihad in May. The militant group, which seeks the destruction of Israel, has been designated a terrorist organization by Israel, the U.S., the European Union and others.

The mobile all-weather defense system, which became fully operational in March 2011 and has been upgraded several times since, is designed to protect Israeli citizens by launching guided missiles to intercept incoming rockets and other short-range threats in mid-air.

The system has been “tested consistently” since first being put to use in April 2011, Israel’s Defense Ministry says, and “successfully prevented countless rockets from hitting Israeli communities.”

Originally produced in Israel, the Iron Dome was developed by state-owned Rafael Advanced Defense Systems with U.S. backing — and Washington continues to provide funding for it today.

An Iron Dome launcher fires an interceptor missile as rockets are fired from Gaza, in Ashkelon, Israel May 10, 2023.

Amir Cohen | Reuters

Israel’s Defense Forces say the Iron Dome is a compilation of several features: the technology itself, the machinery used to intercept incoming rockets, the soldiers who operate the system and the commanders who supervise the network.

How does it work?

In practice, the Iron Dome uses radar to track incoming rockets and can determine whether the missile’s trajectory poses a threat to a protected area, such as a strategically important site or populated center.

If the rocket does pose a threat, a command and control center can respond by launching its own Tamir missile to intercept it. The system is not configured to fire on rockets outside of a protected area, meaning these are ignored and left to land harmlessly elsewhere.

A Congressional Research Service report published in early March described the Iron Dome as a mobile anti-rocket, anti-mortar and anti-artillery system that can intercept launches from 2.5 to 43 miles away.

It is estimated to have at least 10 batteries deployed nationwide, each of which is designed to defend a 60-square-mile populated area. Each battery is equipped with three to four launchers and each launcher contains up to 20 Tamir interceptors.

The Center for Strategic International Studies, a U.S. think tank, has previously estimated that a complete Iron Dome battery costs roughly $100 million to produce.

Prior to Hamas’ Oct. 7 attack, the U.S. was estimated to have provided nearly $3 billion to Israel for Iron Dome batteries, interceptors, co-production costs and general maintenance. U.S. lawmakers have repeatedly voted in favor of providing funding to Israel’s Iron Dome’s in recent years.

“Thanks to the Iron Dome, we have not sustained tremendous casualties from the rockets that have been fired,” Lt. Col. Jonathan Conricus, a spokesperson for Israel’s Defense Forces, said Saturday in a video statement posted via X, formerly known as Twitter.

At the time of that broadcast, the IDF’s Conricus said the overwhelming majority of the casualties Israel had sustained had been the result of “close-contact fighting” and “cold-blooded killings” of civilians and soldiers.

The Iron Dome has its weaknesses, however, and analysts have warned that the defense system could encounter challenges when responding to heavy rocket fire.

The Center for European Policy Analysis, a U.S. think tank, said in June 2021 that should militants successfully identify and achieve the saturation of Israel’s Iron Dome, “critical updates to the system may not be achievable.”

A saturation attack is designed to overwhelm the Iron Dome shield with simultaneous missile attacks from various directions to impair the system’s ability to sufficiently respond.

Walgreens (WBA) earnings This autumn 2023

A man walks near a Walgreens pharmacy on March 09, 2023 in New York City. 

Leonardo Munoz | Corbis News | Getty Images

Walgreens on Thursday offered soft profit guidance and reported fiscal fourth-quarter earnings that fell short of expectations, as demand for Covid vaccines and tests sinks in the U.S. 

The retail pharmacy giant – squeezed by the transition out of the pandemic, a leadership shakeup, its wobbly push into health-care and recent labor pressure from pharmacy staff – has now underperformed Wall Street’s adjusted earnings expectations for two straight quarters. The last time Walgreens posted a consecutive earnings miss was nearly a decade ago.

Walgreens said it expects adjusted earnings per share of $3.20 to $3.50 in the coming fiscal year, which is lower than analysts’ estimate of $3.72. The company expects lower Covid-related sales, along with a higher tax rate and lower sale and leaseback contributions, to offset earnings growth. 

Walgreens also sees revenue for the year at $141 billion to $145 billion. Wall Street analysts estimated sales of more than $144 billion.

Here’s what Walgreens reported compared with what Wall Street was expecting, based on a survey of analysts by LSEG, formerly known as Refinitiv:

  • Earnings per share: 67 cents adjusted vs. 69 cents expected
  • Revenue: $35.42 billion vs. $34.78 billion expected

The company reported a net loss of $180 million, or 21 cents per share, for the fiscal fourth quarter. That compares with a net loss of $415 million, or 48 cents per share, during the same period a year ago. Excluding certain items, adjusted earnings per share were 67 cents for the quarter. 

Walgreens booked sales of $35.42 billion in the quarter, which is up roughly 9% from the same period a year ago due to growth in its U.S. retail pharmacy and international business segments. 

Sales in the company’s U.S. health care division also grew. Walgreens noted in a release that it is “intently focused on accelerating” that segment’s profitability moving forward. 

The quarterly results come two days after Walgreens named health care industry veteran Tim Wentworth as its new CEO following the abrupt departure of the company’s former top executive, Roz Brewer, last month. Wentworth, who will take over on Oct. 23, is tasked with steering the retail pharmacy giant out of a rough spot. 

Walgreens has made significant investments to transform from a major drugstore chain to a large health care company. But the pharmacy chain is facing a number of challenges in that transition, including a profit squeeze due to softer consumer spending and declining demand for Covid products as patients emerge from the pandemic.

Walgreens is also facing an open revolt among pharmacists and pharmacy technicians, several of whom staged a three-day walkout this week to protest chronic understaffing and other poor working conditions. 

Shares of Walgreens have dropped more than 39% for the year, putting the company’s market value at $19.51 billion. 

Three segments post sales growth

Walgreens’ U.S. retail pharmacy segment generated $27.66 billion in sales for the fiscal fourth quarter, an increase of 3.7% from the same period last year. Comparable sales at individual locations rose 5.7%. 

Pharmacy sales for the quarter increased 6.4% compared with the fiscal fourth quarter of 2022, with comparable sales up more than 9% due to price inflation in brand medications and mix impacts.

Total prescriptions filled in the quarter, including immunizations, decreased by 0.5% to 279 million. Walgreens cited a weaker respiratory virus season this fall, which is blunting demand for medications and vaccines. 

Retail sales for the quarter decreased 4.3% compared with the same period a year ago, and comparable retail sales fell 3.3%. 

Meanwhile, the company’s international segment racked up $5.78 billion in sales for the fiscal fourth quarter, which is up more than 12% from the same period a year ago. 

Sales in Walgreens’ U.S. health care segment came in at $1.97 billion, up from $622 million for the same period last year. Its operating loss narrowed to $294 million from $338 million.

Primary-care provider VillageMD, which includes urgent care provider Summit Health, saw revenue grow by 17%. Walgreens said that reflects “existing clinic growth and clinic footprint expansion” of VillageMD, which has a network of hundreds of full-service doctors offices across the U.S. 

Sales at CareCentrix, which coordinates home care for patients after they’re discharged from the hospital, increased 24% due to additional service offerings and expansion into additional markets. 

The health care segment took a loss of $30 million in the quarter before interest, tax, depreciation and amortization, compared to a loss of $133 million during the same period a year ago. Walgreens said that “improvement” was driven by growth at CareCentrix and Shields Health Solutions, a specialty pharmacy company included in the health care segment. 

Walgreens will hold an earnings call with investors at 8:30 a.m. ET on Thursday.

–CNBC’s Robert Hum contributed to this article.

‘Shark Tank’ star Daymond John hosts Black Entrepreneurs Day

Daymond John attends the 2023 Vanity Fair Oscar Party Hosted By Radhika Jones at Wallis Annenberg Center for the Performing Arts in Beverly Hills, California, on March 12, 2023.

Leon Bennett | Filmmagic | Getty Images

“Shark Tank” star Daymond John is looking to give Black business owners a boost for the fourth year running.

The FUBU CEO’s Black Entrepreneurs Day, billed as a celebration of Black business, will return Nov. 1. The event will feature a lineup of celebrity guests such as Whoopi Goldberg and Shaquille O’Neal and insights from top Black business leaders.

Eight winners of a $25,000 entrepreneurship grant will also get the opportunity to appear alongside John during the event. The event will take place at the Apollo Theater in Manhattan and will also be broadcast online via livestream.

This year marks the fourth year of the event, which was first created in part to address “frustration over injustice” after the murder of George Floyd in 2020. Black Entrepreneurs Day was launched later that year to “celebrate” Black business owners amid a focus on systemic racism and economic inequities.

“I remember when Rodney King happened,” John told CNBC. “I did not go and burn businesses — I built one.”

Early support wanes

Since 2020, Black Entrepreneurs Day has attracted big-name corporations including JPMorgan Chase‘s Chase for Business and Shopify.

As the event enters its fourth year, enthusiasm among corporate sponsors has not matched what it was in 2020, when it launched on the heels of the Covid-19 pandemic and widespread Black Lives Matter protests pushing for racial equity.

“It was very easy [to get corporations on board] the first year,” John said. “I said, ‘Will you stand by me and say that you are on the right side of this discussion?'”

Many of the companies standing behind Black Entrepreneurs Day have launched initiatives to support the Black community. Chase allocated $30 billion as part of a racial equity commitment in 2020, which has since been used to deploy 15,000 small business loans, among other initiatives.

John said companies need to show continued support for Black businesses beyond a one-time commitment.

“If you don’t have people in your organization that look like the ones you are serving, then you’re going to chase what’s shinier every day,” John said. “You may think that the systemic issues were solved” by the donation you gave.

John lauded brands including Chase, T-Mobile, The General Insurance and Shopify, which he said have stayed on the “right side” of the issue. He said the companies don’t just hand over money, but also go the extra mile to invest in the Black community.

This year, Black Entrepreneurs Day will feature a star-studded guest list including Goldberg, O’Neal, Cedric the Entertainer, Anthony Anderson and Rick Ross, to discuss their journey as Black entertainers and entrepreneurs.

“People want to know what they did at their lowest point and how they got out of circumstances that many of us have been in or are currently in,” John said.

Grants up for grabs

Black Entrepreneurs Day will partner with the NAACP to give eight entrepreneurs $25,000 issued through the NAACP Powershift Entrepreneur Grant. Business owners who apply and win one of the eight grants will be able to get mentorship from John and join him during the event broadcast.

The grant gets tens of thousands of applications, even outpacing the entries submitted to “Shark Tank,” a globally recognized show, John told CNBC.

The Shopify Pitch Competition will return to this year’s Black Entrepreneurs Day. Current Shopify merchants will have the chance to pitch to three judges live during the broadcast. Winners will be awarded $25,000 and mentorship from John.

Black-owned businesses were hit especially hard by the Covid-19 pandemic, and when federal assistance became available, Black business owners saw less of that money than their white counterparts.

“When the money was issued throughout Covid, a lot of Black farmers and African American businesses got a very small percentage of it and it took them much longer to get it,” John said.

Paycheck Protection Program loans largely failed to reach areas with the highest concentrations of Black-owned businesses, CNBC reported in 2020.

Several businesses have flourished with the money and mentorship provided by the grant, John said, and some business owners are now able to keep their businesses open due in part to the grant funds.

Programming note: John will appear on CNBC’s “Mad Money” at 6 p.m. ET on Tuesday.