Afternoon Briefing: Walgreens tightens outlook as shoppers cut back spending

Good afternoon, Chicago.

Calumet City 6th Ward Ald. James Patton announced today he will run for mayor next year, becoming the first announced challenger to a possible reelection bid from incumbent Mayor Thaddeus Jones, who is also state representative.

Since he took office in May 2021, Patton, a longtime city official, has been one of the most outspoken opponents of the Jones administration. He challenged whether Jones could simultaneously be mayor and state representative, questioned the way Jones’ handpicked city engineering firm Farnsworth led the city’s contract selection process and said Jones urged Democrats to avoid using his business when he questioned how the mayor ran a City Council meeting.

Here’s what else is happening today. And remember, for the latest breaking news in Chicago, visit chicagotribune.com/latest-headlines and sign up to get our alerts on all your devices.

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Charges announced in Rockford stabbing attack that left four dead and seven wounded

Officials from Rockford and Winnebago County said they have charged a 22-year-old man in a stabbing attack that left four dead and seven wounded. Read more here.

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• Yong Wha Kim, founder of the Korea Times Chicago, dies
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Walgreens tightens outlook as shoppers cut back spending

Walgreens has been finding ways to help increase cash flow as part of a broader strategy to invest more money into its pharmacy and health care businesses. Read more here.

More top business stories:

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5 takeaways from the Chicago Bulls’ 125-99 blowout of the Indiana Pacers, including Javonte Green’s return and Coby White’s shooting woes

White had another off-shooting night Wednesday in a 125-99 blowout of the Indiana Pacers at the United Center. Read more here.

More top sports stories:

• Breaking down the East Region matchups: No. 1 UConn vs. No. 5 San Diego State and No. 2 Iowa State vs. No. 3 Illinois
• Sign up for Cubs and White Sox Insider newsletters

Review: ‘Peter Pan’ at Nederlander Theatre smooths the rough edges of Neverland

The classic story of the boy who never grew up is being told for a new generation through a national tour of the musical, directed by Lonny Price. Read more here.

More top Eat. Watch. Do. stories:

• Southwest Symphony Orchestra concert features world premiere of ‘Desert Moods’
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Baltimore Key Bridge collapse minute-by-minute: Recordings, reports fill in timeline of disaster

Dispatch audio, Coast Guard reports, a National Transportation Safety Board summary of data from the ship’s voyage data recorder and video of the disaster offer a minute-by-minute account of the moments before and after the bridge’s collapse. Read more here.

More top stories from around the world:

• US changes how it categorizes people by race and ethnicity. It’s the first revision in 27 years
• Doctors visiting a Gaza hospital are stunned by the war’s toll on Palestinian children