Walgreens to close ‘significant’ number of underperforming stores

Becker's Healthcare June 27, 2024
Laura Dyrda, Jakob Emerson

Walgreens is planning to shutter “a significant portion” of its underperforming retail stores over the next three years.

The plan to close stores is part of the company’s footprint optimization program as it faces ongoing financial headwinds related to a challenging environment for consumer spending and pharmacy operations. Walgreens previously announced about 300 store closures, but the latest news has many more on the line.

“We continue to face a difficult operating environment, including persistent pressures on the U.S. consumer and the impact of recent marketplace dynamics which have eroded pharmacy margins,” Tim Wentworth, CEO of Walgreens Boots Alliance, said in a June 27 news release. “Our results and outlook reflect these headwinds, despite solid performance in both our International...

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