Rob Wile is a breaking business news reporter for NBC News Digital.
Walgreens is planning potentially sweeping store closures as it faces what its CEO called a “challenging” environment for pharmacies and U.S. consumers. The pharmacy chain on Thursday morning announced quarterly earnings that fell short of Wall Street expectations. Walgreens' stock quickly fell about 15% in pre-market trading. In an interview with CNBC, CEO Tim Wentworth said the company now forecasts weaker consumer spending for the rest of the year. ″We assumed...
“What that means is the others we take a hard look at, we are going to finalize a number that we will close.” The chain has contended with difficulties for years. It already announced a plan to close 150 U.S. stores last summer. Walgreen’s share price has seen steady declines for about a decade, dropping from a peak of more than $95 a share in 2015 to less than $15 today.
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