PYMNTS.com June 27, 2024
Challenges in the retail environment and the pharmacy industry have led Walgreens Boots Alliance to consider closing as many as 25% of its U.S. retail stores.
These Walgreens stores do not contribute to the firm’s adjusted operating income, and the company expects that a “significant portion” of these underperforming stores will be closed over the next three years, Walgreens Boots Alliance CEO Tim Wentworth said Thursday (June 27) during the company’s quarterly earnings call.
For the remainder of those underperforming stores, the company will take measures to return them to profitability but may contemplate closing them too if their performance does not improve, Wentworth said on the call.
“While it is not an easy decision to close a store, we...
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