Walgreens Stores Closing
Drugstore chain Walgreens Boots Alliance will close 200 stores as part of a plan to cut $1.5 billion in expenses over the next three years.
Walgreens is looking to cut costs primarily in the company’s U.S. retail pharmacy division. The store closures will help accomplish this. Walgreens operated 8,330 stores in the U.S., Puerto Rico and the U.S. Virgin Islands as of the end of November, so the store closures are fairly minimal. Even with the store closures expected, Walgreens posted second-quarter sales of $21 billion, up 7.4% from a year ago. Same-store sales climbed 6.9%.