CEO Tim Wentworth said in an interview with the Wall Street Journal that the store closures would make up a “meaningful percent” of the quarter-or-so locations that are underperforming.
Walgreens is planning to close a significant share of U.S. stores, CEO Tim Wentworth of parent company Walgreens Boots Alliance told the Wall Street Journal.
Walgreens, which operates more than 8,600 stores across the United States, is finalizing a plan to fix its business. The strategy may involve shuttering a significant portion of its underperforming stores.
The struggling drug store chain, which closed 150 US locations last year, cut its profit forecast ahead of reporting its quarterly earnings -- sending the company's stock plummeting by nearly 25% in mid-day trading.
Walgreens is set to close a substantial number of its roughly 8,600 locations across the United States as the company looks to reset the struggling pharmaceutical chain
Walgreens announced last Friday they plan to shut down a substantial number of their pharmacies in an attempt to cut costs and close underperforming stores.
Walgreens is planning to close a significant share of U.S. stores, CEO Tim Wentworth of parent company Walgreens Boots Alliance told the Wall Street Journal.
CEO Tim Wentworth told analysts Thursday morning that “changes are imminent” for about 25% of the company’s 8,600 stores, which he said were underperforming.
Walgreens is finalizing a plan to fix its business that could result in the closure of hundreds of additional stores in the next three years. CEO Tim Wentworth told analysts
By Jordan Valinsky, CNN New York (CNN) — Walgreens is set to close a substantial number of its roughly 8,600 locations across the United States as the company looks to reset the struggling pharmaceutical chain’s business.
Walgreens and competitors like CVS and Rite Aid — which is going through a bankruptcy reorganization — have already closed hundreds of stores the past few years.
Walgreens announced Thursday that it's planning to close a number of underperforming stores as it contends with a tough economic environment and declining margins.
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Walgreens to close 'significant' number of stores, CEO says | Since Then
