Walgreens May Close 25 Percent of US Stores Amid ‘Difficult Operating Environment’

Published on June 27, 2024

Walgreens Boots Alliance announced plans to close a significant number of its underperforming U.S. stores over the next three years, as revealed during an investor earnings call on June 27. This decision comes amid financial challenges and an evolving retail pharmacy landscape which the company outlined in the call regarding the company’s third-quarter 2024 earnings. Tim Wentworth, the company’s CEO, highlighted the company’s commitment to navigating these tough times by focusing on its core strengths and making strategic adjustments in the call. “While this quarter’s results were not in line with our expectations,” he said, “I’m at Walgreens today because I believe in the future of retail pharmacy, and particularly in our future. We are motivated by the trust Americans place every day in their Walgreens pharmacy, and the experience we provide them in our stores and with our digital offerings is important in their lives.”...

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