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Walgreens plans to close 450 stores by 2025.
Approximately 1,200 stores will close over the next three years.
Walgreens continues to close stores as part of its restructuring plan.
Walgreens stores are being thinned out. Walgreens said it plans to close about 1,200 underperforming stores across the U.S. in October 2024 as a strategy to offset declining profits due to low drug reimbursement rates and weak retail sales.
Walgreens Boots Alliance CEO Timothy Wentworth said in a June 2024 conference call with investment analysts about the company's quarterly financials that about 25% of Walgreens stores are “currently in our This strategy makes sense because it does not contribute to the long-term strategy of
Walgreens said those 1,200 stores will close over three years, with about 500 stores scheduled to close in the company's fiscal year 2025, which ends in August 2025.
The company closed 70 stores in the first quarter of fiscal 2025, ending Nov. 30, 2024, Wentworth said on a conference call with analysts Friday. Walgreens plans to close about 450 additional stores by the end of 2025, he said.
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