Walgreens will close 1,200 stores, hoping for a turnaround
Headline from Delaware Public Media
Walgreens says about a quarter of its stores are unprofitable. Big pharmacy chains are struggling with growing retail competition and lower prescription payouts.
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Walgreens says about a quarter of its stores are unprofitable. Big pharmacy chains are struggling with growing retail competition and lower prescription payouts.
New York (CNN) — Walgreens is closing approximately 1,200 locations as the drug store chain struggles to contend with online competitors and declining prescription drug payments. By 2027, about one in seven Walgreens currently open will close its doors.
Walgreens will close about 1,200 locations over the next three years as the drugstore chain seeks to turnaround a struggling U.S. business that contributed to a $3 billion quarterly loss.
The retail drugstore chain also said it plans to close roughly 1,200 stores over the next three years, which includes 500 closures in fiscal 2025 alone.
Pharmacy chain Walgreens is aiming for 500 store closures in fiscal 2025 and 1,200 over the next three years, parent company Walgreens Boots Alliance announced Tuesday.
Walgreens is planning to close around 1,200 locations, as the drugstore chain and its rivals struggle to define their role for U.S. shoppers who no longer look to them first for convenience.
The retail drug chain Walgreens on Tuesday reported growth within its businesses segments, but said it will shutter more than 1,000 stores over the next few years.
Walgreens announced Tuesday it will close about 1,200 stores over the next three years, including 500 stores in the current fiscal year. The plan, according to the company press release, would free up cash flow and help support adjusted earnings.
Walgreens Boots Alliance said Tuesday that it is shutting around 1,200 stores over the next three years, as the drugstore chain moves to turn around its troubled U.S. business.
Walgreens will close about 1,200 locations over the next three years as the drugstore chain seeks to turnaround a struggling U.S. business that contributed to a $3 billion quarterly loss.
