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, a growing list of grocery chains have been struggling with significant store closures in 2024. Walgreens is now the latest chain to join that list as it contends with declining earnings and mass layoffs.with investors, Walgreens CEO Tim Wentworth announced that the company plans to shutter a"significant portion" of underperforming stores over the next three years.
Wentworth warned that they may shutter even more underperforming locations in the future if their performance doesn't improve. "While it is not an easy decision to close the store, we will work to minimize customer disruptions. And importantly, as we have done in the past, we intend to redeploy the vast majority of the workforce in those stores that we close," he said.across the United States and the United Kingdom last summer after its net earnings fell by 60% in the third quarter of 2023.
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